A 15 year old turned $0 into $17M selling NFTs...

Gm. Allstar here with another newsletter, where for 2 minutes and 31 seconds, you can know what's happening in crypto. So you have the rest of the day to figure out why you’re on this planet.

In today’s email we’re touching on:

• 💸 A 15 year old turned $0 into $17M selling NFTs.

• 🔰 ApeCoin announces polygon integration.

• 🏰 Dubai sinking their feet in the Sandbox

A 15 year old turned $0 into $17M selling NFTs.

We've all heard the crazy success stories that crypto has produced, people literally turning nothing into something. The NFT holder with the name Rashad, shared his story on Twitter of how he went from $0 and turned it into $17M in profits. 

Rashad's NFT journey began with something everyone has access to, knowledge. A young boy, only 15, took an interest in graphic design and code, using his savings to learn more about the topics. He built a solid foundation, and without even knowing it, that was his first introduction to NFTs.   

Being the GenZ, he is, one day, he came across the term cryptocurrency and, in the summer of 2020, had his first go at the digital asset. 

Having experience in coding, he used his knowledge to create a crypto sniping bot, and by August 2020 it had made a few successful trades amassing him around $200k and sold both of the bots for $14k.

In comes NFTs 

Reshad decided to join the Murakami Flowers' public raffle of 6571 whitelisted spots by simply submitting 126 841 entries, eventually winning him 923.

This gave him the confidence to join YugaLab's newest release of Otherside.

Long story short, Reshad ended up buying 114 wallets for 1 ETH each to maximize his chances. Using an NFT spinning bot, he successfully managed to mint on all the wallets. He is now the second biggest holder of Otherside, The first being the YugaLabs wallet, and within less than a month, almost 50x his profits. 

It's incredible to hear the lives that are changed through this space and technology, and we could be seeing the most significant transfer of wealth of our time. After posting the thread and going viral, it was soon deleted along with all his socials. The conspiracy: he leaked info about some projects he shouldn’t have. 

The story was  confirmed by a popular member of the crypto community zachxbt, who used Etherscan to verify several claims made by reshad.

What can we get out of this? Other than the fact this kid made more in 2 years selling NFTs than some people do in their whole life. If you're knowledgeable enough about a subject, you can leverage that knowledge to your advantage. Keeping up with news and understanding fundamentals can take you a long way.

ApeCoin announces Polygon integration.

After the mess in gas fees following the Otherside drop( check here where we talk more about that), Apecoin announced its integration into the polygon ecosystem, making it available for 19 000+ dApps and games. 

With this announcement people were enraged, speculating it was a marketing stunt, highlighting a problem that the Ethereum chain had and providing a solution (the announcement of their own chain). But ApeCoin DAO member Yat Siu says this was not the case. 

On another note, the Otherside mint allowed 55 817.39Ξ(~$158M) to be burned, setting the new ATH of 70 000Ξ.

Dubai sinking their feet in the Sandbox

Dubai’s Virtual Assets Regulatory Authority (VARA) makes a groundbreaking move to establish a headquarters in The Sandbox.

This move establishes Dubai’s belief in the digital asset. VARA was established to ensure a stable framework for the asset to grow with and protect the market and investors. 

Speaking at the inauguration of Vara MetaHQ on The Sandbox, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, said:

“Today, VARA joins the Metaverse to become Dubai’s – and the Metaverse’s – first government authority.” 

“Vara’s acquiring land in The Sandbox is symbolic of our belief in this sector. The onus is on us as government to be the bridge that allows investors and consumers to adopt safely and collaboratively scale the economy.”

Full thread here 

Does this solidify the space as stronger governments acknowledge the changes to currency happening globally? Will we see other countries setting their foot in the Metaverse? Let us know what you think!

So do you think that ApeCoin will announce their own Network that will make gas fees cheaper? Or will they remain in the Polygon ecosystem where they could thrive? Was it an honest mistake that they lost that much money in gas fees or was it all a planned marketing stunt? Let us know what you think of these stories by replying to this email! That’s all for today! Allstar out! 🤘