The Day I Minted an Ugly Elephant for 0.5 ETH

I minted an ugly elephant for 0.5 ETH. It sounds absurd, and trust me, it was. But if you’ve been in the Web3 space long enough, you probably have your own “What was I thinking?” moments. This is one of mine - and while it still makes me laugh, it also taught me a few valuable lessons about navigating the madness of the NFT world.

2021: When Minting Was a High-Stakes Game of Speed

If you were part of the NFT craze in 2021, you know what I’m talking about. It was pure chaos. New collections were dropping every day, and my friends and I were constantly messaging each other with the latest “alpha” tips. It wasn’t about strategy - it was about speed. Blink, and the 10k collection would sell out in seconds, with gas wars draining your wallet faster than you could react. But the potential rewards? Those kept us hooked. A quick flip could 10x or 50x your investment if you were lucky.

I was riding high on a few early wins, feeling invincible, when one night, I got a message: “Mint this.” No details, no context - just this one liner.

I acted immediately in a true degen fashion. Within seconds, I had minted several NFTs, spending 0.5 ETH without knowing anything about the project.

And what did I get? Well, take a look.

A bunch of ugly elephant NFTs. But it gets worse. Half an hour later, I discovered that the project was run by a complete amateur who didn’t even know how to build a proper website. The entire thing was a disaster. Yet, I still own those elephants somewhere in the depths of my wallets.

What Really Matters: Understanding the Web3 Mindset

Now, you might think I walked away from this regretting every second - but I didn’t. In Web3, mistakes are part of the game. The key is not to let them drag you down.

Here’s the truth: Web3 is not a space for constant wins. Like any other market, one success doesn’t create a pattern. You can’t assume that just because you struck gold once, you’re destined for repeat success. The environment is fast, unpredictable, and driven by hype, and sometimes you get caught up in it. But that’s when you need to pause, breathe, and be rational.

I realized that I could have avoided minting those elephants with one simple step: asking myself, “Do I actually know what I’m about to mint?” That moment of reflection could have saved me from diving into the unknown without a plan. It’s a lesson in self-awareness -understanding that it’s okay not to know everything but crucial to recognize when you don’t know enough.

The Web3 mindset isn’t about avoiding risks - it’s about taking informed risks. It’s tempting to chase every opportunity, especially when you see others making quick gains, but staying grounded means knowing when to step back. You don’t have to know everything; you just need to be aware of when you don’t know enough and act accordingly. No regrets, just lessons. With that mindset, you lower the chances of making the same mistake twice.

Share Your Degen Stories with Me!

So, what about you? Have you ever minted something that made you cringe later? Or maybe you had your own wild ride during the 2021 bull run? I’d love to hear your stories. Ping me on X, share your experiences, and let’s laugh (or cry) about it together.