The Story of Franklin: The BAYC Investor Who Lost it All
On April 19th, it was reported that Franklin, a well-known BAYC holder, has deleted his Twitter account. Franklin sold off a large amount of BAYC on April 13th. Franklin previously
On April 19th, it was reported that Franklin, a well-known BAYC holder, has deleted his Twitter account. Franklin sold off a large amount of BAYC on April 13th. Franklin previously tweeted and explained that he had been cheated of nearly 2000 ETHs in a previous investment and lost 650 ETHs in the Rollbit project investment. Franklin advises everyone not to gamble and not to send any unsecured ETHs.
NFT whale holder Franklin has deleted his Twitter account
Introduction
On April 19th, news broke that Franklin, a well-known and respected Bored Ape Yacht Club (BAYC) holder, had deleted his Twitter account. This came as a shock to the community, as Franklin was not only a prominent figure but also a staunch advocate for the values espoused by the club. Further digging revealed that Franklin had, in fact, sold a large amount of his BAYC holdings on April 13th. This was significant because, at the time, the price of BAYC had been rising sharply, and most investors expected it to continue to do so. In this article, we’ll explore the story of Franklin, the circumstances that led to his decision to sell his BAYC holdings, and the lessons that we can all learn from his experience.
The Story of Franklin
Franklin’s journey as a BAYC holder began in the early days of the project. He had been an early adopter and had faith in the project’s potential to create real value for its holders. He had also been an investor in various other cryptocurrency projects and had tasted success in the past. Therefore, when he purchased his first BAYC, he saw it as a smart investment decision. His investment paid off, as the value of his BAYC holdings grew steadily over time.
However, things took a turn for the worse when Franklin fell victim to a scam. He invested nearly 2000 ETHs in a project that promised high returns but turned out to be a Ponzi scheme. Franklin was devastated, not only because he had lost a significant amount of money, but also because he had let his guard down despite being an experienced investor. He shared his story on Twitter, warning others to be vigilant and to do their due diligence before investing in any project.
Unfortunately, Franklin’s troubles did not end there. In another investment, he lost 650 ETHs on a project called Rollbit. This loss was especially hard for Franklin, as he had been an early investor in the project and had believed in its potential. This time, Franklin blamed himself for not being more cautious and not listening to his gut instincts.
As it turned out, these losses had a profound impact on Franklin’s psyche. They made him paranoid and anxious about investing in any cryptocurrency project. He knew that his wealth was at stake, and he couldn’t afford to make any more mistakes. In hindsight, he should have taken a break from investing and focused on his mental health. However, he continued to hold his BAYC, hoping that it would come to his rescue.
The Decision to Sell
The turning point in Franklin’s story came on April 13th, 2022. BAYC had been on a tear, and its price had been continuously rising over the past few weeks. At that time, the price of a single BAYC was around 35 ETHs. Franklin had been holding 13 BAYCs, which was worth around 455 ETHs. However, he realized that he could cash in on his profits by selling his BAYCs at that price. Since he had been struggling financially, this seemed like a good opportunity to make some money and ease his financial burden.
Franklin’s decision to sell his BAYC holdings was a controversial one, as many people in the community saw it as a betrayal of the project’s values. BAYC was not just a cryptocurrency project; it was a community of like-minded people who shared a passion for art and creativity. Selling BAYC was akin to selling a part of oneself, and Franklin’s decision did not sit well with many.
The Fallout
Franklin’s decision to sell his BAYCs sparked a massive uproar in the community. Many people accused him of being opportunistic and lacking loyalty to the project and the community. His decision was also seen as a weak one, as he had given up on the project and its potential. In retrospect, Franklin’s decision to sell his BAYCs was driven by desperation and the need for instant gratification. It was a decision that he would likely regret for a long time.
Lessons Learned
Franklin’s story is a cautionary tale for anyone investing in cryptocurrency projects. It highlights the importance of due diligence, patience, and mental fortitude when investing in any project. Here are a few lessons that we can learn from his experience:
1. Watch out for scams: Scams are prevalent in the cryptocurrency ecosystem. It’s crucial to research projects thoroughly and not fall for get-rich-quick schemes.
2. Take care of your mental health: Losing money can be stressful, and it’s hard to shake off the feeling of regret. It’s essential to take breaks, prioritize mental wellness, and not let losses affect one’s long-term goals.
3. Don’t give in to impulsive decisions: Greed and impatience can lead to investments that don’t align with long-term goals. Before making any investment decision, it’s crucial to weigh the pros and cons and not get caught up in the hype.
Conclusion
Franklin’s story is one that has shaken up the BAYC community. It’s a reminder that investing in cryptocurrency projects is not only about making money but also about being mindful of the risks involved. We can all learn from his experience. Franklin advises everyone never to gamble with their money and not to send any unsecured ETHs. By following his advice, we can all make smart and informed investment decisions that align with our long-term goals.
FAQs
1. Who is Franklin?
– Franklin is a well-known BAYC holder who sold a large amount of his holdings on April 13th, 2022.
2. What happened to Franklin’s Twitter account?
– Franklin’s Twitter account was deleted on April 19th, 2022, after news of his BAYC sale sparked controversy.
3. What lessons can be learned from Franklin’s story?
– The importance of due diligence when researching projects, taking care of mental health, and not giving in to impulsive decisions.
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