An increasing number of individuals from outside the blockchain space are eager to delve into Web3 for learning and investment. However, the phrase 'tuition for entry' has deterred many. Yet, as the saying goes, learning from others' experiences is more valuable than heeding their advice. TZ, an early cryptocurrency investor, what experiences and investment logic are worth learning from?

In our seventh dialogue, we are delighted to have TZ, the Founder of LittleMami, share insights about Web3 based on their own experiences.

Q: Welcome, TZ. Could you please share your own experiences and the catalyst that led you to enter this space?

A: My journey into the cryptocurrency world can be traced back to two main factors. The first was my father's unwavering belief in Bitcoin. He began accumulating Bitcoin in 2012 and has held onto them ever since, never selling a single one. His strong faith in Bitcoin had a profound impact on me. He once shared a profound insight with me, essentially saying, 'Your generation won't be able to accumulate wealth through traditional means like buying houses or land, but through blockchain, you have numerous opportunities to achieve your goals.' This motivated me to start exploring cryptocurrencies, and my very first transaction took place via QQ, where I sent 1 million to the recipient.

My second reason for getting into this space was my deep love for NFTs. As one of the founders of the BAYC Chinese Community and a proud Bored Ape Yacht Club (BAYC) NFT owner, my passion for NFTs is undeniable. We organized the very first BAYC meetup in China, and its success led to a series of subsequent offline events.

My entry into the world of Web3 was primarily driven by my understanding of Bitcoin and my passion for NFTs. The idea for my current project, LittleMami, also emerged from these interests. Reflecting on my journey into this space, I would describe myself as a rather cautious individual.

Q: As someone who got into cryptocurrencies very early, you've probably invested in numerous projects. Could you share which investment or project has been the most profitable for you during your time in the crypto space?

A: In the early days, I primarily assumed the role of an investor, and due to my limited knowledge of the market, my investment mindset was relatively casual. I participated in numerous projects, with mixed results, but overall, I made money. However, this approach is actually closer to the market. Only by fully understanding the dynamics of the market can one thrive in this industry. Consequently, my role as an investor gradually evolved into that of a co-builder. Since entering space, I have been primarily involved in first and second-tier projects, as well as DeFi initiatives. Later on, I delved into more DApps on platforms like Uniswap, and I also gained significant returns of over 20 times on second-tier assets such as Shiba, Gala, and DOT.

My most successful investments have been in Bitcoin (BTC) and Ethereum (ETH). My first BTC purchase was at 890 Chinese yuan, and I continue to hold a strong belief in Bitcoin. Part of this belief stems from my father's influence, and it's further reinforced by my experience in the crypto market, where I've witnessed Bitcoin's pivotal role as the foundation of the entire industry.

Q: Webers often said, 'You must pay your dues to get in and grow.' TZ, have you experienced any particularly steep learning curves or dues to pay since entering space? Do you have any advice for the new Web3er to help them minimize their learning costs?

A: Due to the wide variety of investments I dabbled in early on, I did face some significant setbacks. I invested in mining operations, but due to a lack of due diligence, I lost over 10 million yuan to a service provider. I also ventured into GameFi and witnessed the value of my investments drop from $20 to $1. The Luna incident followed, resulting in a sudden 100x drop in my funds. Not to mention my experiences with quantitative trading and the FTX rug pull, among others. Early on, I certainly encountered my fair share of pitfalls. However, these experiences taught me valuable lessons, and as a result, I've become more cautious in my later investments. I only get involved when I have a deeper understanding of the project or its founders.

My advice is straightforward. Firstly, concentrate on your strengths and expertise. Fully utilize your skills to research and comprehend a project before making an investment decision. For instance, if you have a deep understanding of financial concepts, delve into its economic model. If you possess a wide network, get to know the founders comprehensively. Alternatively, if you excel in marketing strategies, analyze their promotional methods. When you have a profound understanding of a project, you'll be better equipped to determine its potential for profit.

The second point is also the most crucial: you must prioritize investment risk management and ensure a well-balanced allocation of your funds. Never put all your investments in one place, as there's no such thing as a 100% guarantee. When your investments encounter challenges, it's essential not to lose heart. I consistently advise my friends to allocate a substantial part of their investments into BTC or ETH and reserve a smaller portion for exploring potential and suitable projects to invest in.

If you're fortunate enough to earn a substantial income, be sure to create cash reserves. Cash is king! You'll appreciate having this during a bear market.

Q: As one of the founders of the Chinese Ape Club, how do you view the future of BAYC? Has its recent price drop affected your perspective, and do you see this as a buying opportunity?

A: When we originally founded the Chinese Ape Club, it was driven by our genuine love for NFTs. From my observations, many of my friends have held onto their BAYC tokens, even during significant price declines. The prevailing sentiment is that the BAYC community remains composed, unaffected by FOMO or panic. This is largely rooted in our deep sense of identification with BAYC and the trust we place in our community partners. As of now, BAYC continues to be one of the most prominent and representative NFTs, with the potential to exert influence on the broader NFT market.

So, in terms of its future, I remain very optimistic. I see the current state of BAYC as akin to early BTC in 2013. Every asset has its cycles, and considering BAYC's uniqueness with only 10,000 in existence, it's irreplaceable and one-of-a-kind. Price drops may be somewhat disappointing, but, as I mentioned earlier, I've implemented my risk management strategies. These price fluctuations only impact my NFT investment returns. With the current price being incredibly affordable, it's entirely feasible to purchase one without affecting your daily life.

Q: Earlier, you mentioned that your current project, LittleMami, stems from your understanding of Bitcoin and your passion for NFTs. Could you elaborate on this?

A: Years of both unsuccessful and successful investments have taught me a profound truth: in both bear and bull markets, the power of a community is crucial for a project's success. Recently, we introduced new gameplay in LittleMami, and the continuous co-building efforts and high enthusiasm in our community have driven LMC to achieve historic all-time highs. Therefore, my initial motivation for getting involved in LittleMami was simple: I wanted to create an enjoyable system for our community members. There's no need to rigidly separate the crypto world, the NFT world, or other domains, nor do we need to establish strict boundaries. I believe that in the future, tokens will bring more value to NFTs, and NFTs will empower tokens. The market's understanding and development direction largely align with this trend.

Tokens and NFTs are powerful tools, and the key is to use them correctly. By connecting these elements through foundational code to create a business ecosystem, we can integrate our own and the community's valuable ideas into this ecosystem. In the early stages, our role might be more guiding, but ultimately, this ecosystem belongs to all its members and creators.

I believe that working together with everyone to accomplish this will be really awesome.

Q: As a Web3 entrepreneur, do you find yourself more inclined toward anxiety or excitement in your everyday emotions? Alternatively, do you believe that maintaining a particular emotional state is more likely to secure a place in the Web3 space?

A: Personally, I usually lean towards excitement. In the entrepreneurial journey, two things are vital: consistently generating innovative ideas and the practical groundwork needed to bring them to life. So, when I stumble upon a highly innovative or promising idea, it tends to make me excited. However, once that idea has undergone a thorough assessment and shows a high potential for positive outcomes, I might dial down my excitement because the practical execution process demands diligence and a down-to-earth approach.

I've always believed that there's a solution to any problem, and the only difference lies in the degree of difficulty. So, I don't tend to get too anxious. In Web3, there are numerous talented and hardworking individuals. The fact that I can work in the same industry as these people, even if my role is relatively small, excites me. What's most important is to focus on doing your best. The only moment we have control over is today, the present.

Believe in yourself, and by doing your best, you will carve out a place for yourself.

Epilogue

Thanks so much for TZ's sharing, and I hope that every Web3er can do their best, seize the moment, and find their place in Web3.

We look forward to seeing what’s next for them and how their plans unfold in the years ahead. Stay tuned for our next engaging conversation with another prominent Web3 leader.