Pay to play

There’s so much FOMO right now in the web3 world of crypto and NFTs. People are minting NFTs and they are promptly 5-10x’ing in price in a short time frame. It’s hard not to have FOMO.

I’m definitely guilty of this myself. I’m part of 4 Discord servers in which I have bought into and another 4-6 at any given moment of projects I’m lurking. Each notification has me jumping up from my seat hoping for the magic word, “whitelist”.

I don’t know how this will all end. I do know that when I’ve seen this happen in the past, things don’t necessarily end well for most. Perhaps this time things will be different as we’re looking into a whole new asset class, or perhaps we’ll all be left holding a bunch of JPEGs that we paid thousands of dollars for.

I’ve come to terms that most of the projects I buy into will likely not end well for me. At least it won’t end up making me rich as I know some others are hoping for. That’s okay - I’m viewing these projects as pay to play. This is similar to how I view a casino… I know the odds are against me, but I still love going there and having fun. Plus there’s the chance that I do win big.

I’m having a lot of fun dabbling in web3. I do need to keep myself in check from time to time. At the end of the day, I’m still spending thousands of real dollars to buy into these projects.