Cryptocurrencies and blockchain technology have exploded into mainstream consciousness in the past few years. Cryptocurrencies like Bitcoin and Ethereum are experiencing wild popularity as a way to serve as a new value store by offering some impressive gains. With the emergence of blockchain, companies are starting to explore using it in other industries like music, art, and games.
NFTs are the next big step in the evolution of blockchain technology, and many have benefitted from its growth. But the industry is still in its infancy, and many parts of the ecosystem need improvement. The early players who dominated the market were fueled by speculation, but the tide changed. And with the new wave of competition in the industry is new hope for success through prudent investment and pioneering innovation.
Chasten Hamilton, a 24-year-old graduate student from Indianapolis, took a unique path to become one of the early adopters. He started investing in cryptocurrency in 2017 when the market was still on its downward trend. At the time, he had about $300 worth of cryptocurrency. Through following the hype on Twitter and Reddit, he was able to catch a late-stage run-up in meme stocks like GameStop and AMC. The gamble paid off, and he saw profits.
Hamilton, ambitious and already working toward his doctorate in physical therapy, decided to get started with his crypto investments. But his next step was at least as risky as the first—looking for more gains. He bought a Bored Ape from another seller, a popular platform connecting cryptocurrency buyers and sellers. With $300 in his crypto wallet, he purchased the Bored Ape. A Bored Ape at the time sold for 55 Ether. Then his investments kept growing, and he decided to support them.
Hamilton has been investing in NFTs since 2017 and is now one of the wisest investors in the industry. He can buy and sell assets at a profit and has found success by going against conventional wisdom, making different choices from others who want to capitalize on the blockchain. He advises his fellow investors to be prepared to make different choices to succeed.
He believes that NFTs are made for investors with a long-term mindset. With NFTs, investors can get in and out of opportunities faster than most other blockchain investments. NFTs are a great way to diversify one’s portfolio but can only work for those with a vision for the long term. As more people enter the market, they need to be prepared to make informed decisions to create their own success stories.
Hamilton has been cautious with his investments. He started with a small amount of money and increased each time he gained more knowledge, making informed decisions. He is one of the few investors growing their investments during this bull market. Investors who want to succeed need to understand what they are doing and why they are making the choices they are making. Hamilton says investors should do their research, find projects that interest them, and not be afraid to take risks and try things out.
