So I thought of writing down my very own story on how I got into Monsta and why I loved every day so far — yes I think I will get wealthier out of it but most importantly I will put this investment in my CV and I will leverage the crazy network of smart money I met for life.
I work in VC and was looking into DeFi and what projects out there could become a reference to learn and educate myself about it — I truly believe in learning by doing, or in my case — investing.
Someone mentioned Cake Monsta as one of the most intriguing deflationary experiments with the ambition to link NFTs gamification with a complex core protocol, these buzz words were enough to make me read the WP. It was really intriguing — I would not bother you here with the protocol specs, you are all free to look into it if interested (Whitepaper) and make your decisions about investing or not — so I went on and joined the socials channels and observed for a bit (1–2 weeks), the chat, the twitter account the mods tone, the core team attitude, the overall community vibe. I was asking questions and basically educating myself on the protocol mechanics and the overall logic model behind this gamified token.
I started reading through the chat and then started building my own model to understand protocol mechanics, to challenge the numbers I was getting from some of the dedicated core community contributors (budddog mainly — you will hear about him often if you join the community at some point) and made up my mind to invest in. Price was just right after what I now understood was the second ‘cycle’ or ‘leg’, around 50m USD Mkt cap — just as a reference. I did some math and basically realized that I could almost fully hedge my investment against expected dividends (in the next 18 months where ‘first cycle ends’). This sounded pretty awesome to me as I am always looking for asymmetrical returns’ investment — you can lose up to x but can earn up to 10–1000x.
The community was going through a not so bullish period, the price was just going down from an ATH which led to something around 100–200 mUSD mkt cap, so few in the chat — I would assume — may have been down if entered or bought in at higher prices. After I invested, I came out clean to the community and explained my rationale for the investment as per the above with some more details indeed (which at the time was in the range of 75k USD, so not a small one but not necessarily something which disrupt the daily volume).
The community really welcomed me — not really for the investment but for the trust I put in the project being it both the protocol and the community who stands behind it. But this is fine right? some green on the graph helps the morale and I thought ‘ok — this is nice but I am helping with price so it makes sense’.
Then something completely unexpected happened. One guy from the community gifted me an NFT minted for 0.2 bnb with same rare traits so most likely worth much more as a welcome gift. I could not believe it. Why he did it? What just happened?
This is when things changed and from a pure investor, I felt like I started to belong to Cake Monster community and really wanted to give back to the community and the more time I spend in the chats and try to support the team and the other community members heavily involved in this the more I understand what an amazing community or, I don’t know, crazy-committed-individuals-willing-to-make-things-work-out this project managed to gather around. I also met in real life some of them and I am planning of building something out of this for the project and beyond the project.
To conclude and not repeat myself too much — I am pretty sure the project will evolve and will have a bright future, the investment thesis I bought in still holds true and can only improve down the line but again I think my investment paid back already as I believe I am now part of a very valuable network of smart money and really dedicated individuals within this project.
That’s why I strongly suggest anyone which is searching for something like this — where she/he can contribute and help build something amazing with already strong foundation — to give this a shot and just invest some time reading through the WP, the medium articles, twitter, main chats, etc. It’s worth the time — for me it was and I am confident it will even more with time, you are welcome if you pass by, you can find me as ‘B’ in the TG chats.
Opinions or ideas expressed in articles published in the Cake Monster Guest Column are of the respective authors and do not represent those of the Cake Monster Team.
About Cake Monster
Cake Monster ($MONSTA) offers a multitude of great features aimed at building a flexible, multifaceted, and automated dividend yield and reward system for participants without compromising the sustainability or security of the protocol ecosystem, and combines this with smart design, creativity, and organic growth, resulting in a very vibrant and engaged community.
About Monsta Party
With Monsta Party NFTs you will earn Party XP (PXP), level up your own algorithmically generated NFTs and compete with others for the hottest spots on the dance floor as you climb the leaderboards to earn the sweetest buffet rewards! With over a million possible combinations, the Monsta Party NFT collection includes 150+ custom properties (e.g. headpieces, glasses, hairstyles, accessories, clothing, etc.), 20+ super rare NFTs and about 10 animated deluxe traits!
Everything is handmade and designed with crazy love by our incredibly talented Monsta designers! What is a great Monsta Party without fresh and funky looking Monstas!