If you've read my previous article, you might think I always seem to be making money, but that's not the case.

I've always wanted to write this, because I don't want those who come later to only see the glamorous side.

Four years ago, I lost a whole $400,000 USD on NFTs.

It was the summer of 2021, the height of the NFT craze. Whether it was X (Twitter), Discord, or crypto groups, everyone was talking about NFTs every day.

Even the official Twitter profile picture of Adidas was changed to an NFT.

doodles, Azuki, BoredApeYC, TheSandboxGame land, Jay Chou's PhantaBear, RTFKT's CloneX

Each one seemed like a golden key to financial freedom.

At that time, one \u003cc-32/\u003e was 4000U.

I usually buy NFTs for 6-10 \u003cc-77/\u003e each, which is about 24,000 to 40,000 US dollars.

At the time, I didn't feel like I was taking a risk at all.

Because everyone around me was saying

"This is a historic moment."

"NFTs are the next wealth code."

"If you miss it, you can never go back."

Moreover, I just made a fortune in the DeFi bull market, and my confidence was bursting.

I really did make money at the beginning. Some NFTs doubled or tripled in floor price after I bought them.

That kind of market made you feel like you could do anything.

I also used to stare atopensea at two or three in the morning, rushing to Mint popular projects. The moment the trading volume skyrocketed felt like gambling in a casino.

Everyone was chasing that feeling of excitement, until one day, everything started to change.

In early 2022, the NFT craze began to fade.

The \u003cc-52/\u003e price also fell all the way from four thousand US dollars to three thousand, two thousand.

NFT projects fell to the floor one after another. Some projects that were once called "blue chips" couldn't hold on at all.

The NFTs I once bought at high prices have almost all fallen by more than 80%.

The wallet list on OpenSea reminds me with every NFT: You lost tens of thousands of dollars on this NFT.

At that time, the most painful thing was not losing money, but self-doubt.

I started to think:

Was I too greedy?

Was I too trusting of the market's enthusiasm?

What's most glaring is that some of the people who were frantically buying NFTs together during the bull market have disappeared, while others are still stubbornly insisting in the community: 'Diamond Hands! You won't lose if you don't sell!'

But I can't 'Diamond Hands' anymore.

Because I know that many NFTs will never return to that high point.

I lost about $400,000 USD in total during that NFT craze.

But later I thought, this is another lesson the market gave me: Never All in when emotions are at their peak.

Always remember that liquidity means it's an asset only if it can be sold.

That's why, even though I've made $900,000 USD, I don't dare call myself a 'crypto guru'.

Because I know that the market is always stronger than us.

If anyone thinks I only write stories about making money, today I want to say: I've lost money too, and quite a bit.

But the lesson of these $400,000 has also made me more calm and more in awe of the market than before. I am still on this path.

And I also want to share this path, which is not just about earning, but also full of blood, with you.