It’s been a couple months now since my last VeVe update, and I’ve now invested a significant amount of time and money into the app.
I’ve put in about $20,000 (!) of my own money to purchase NFTs and collectibles within the app, and I’ve invested another $10,000 into the OMI token, which is the crypto token which underpins the transactions within the app.
And so far the gains have been significant, at least on paper.
My investment in OMI so far is up around 40% despite the current crypto bear market, and my investment in the NFTs has ballooned to $110,000 floor value at its height (now down to around $100K).
The developers still haven’t released MTL cash out for the app, but it’s in development and looks to be released soon.
All of this has made me very bullish about the project. The combination of their strong IP, ease-of-use and rabid fanbase have lead to rapid growth even from when I first joined just a few months ago.
The VeVe team are also working on some major projects this year including migrating their token to IMX (an Ethereum layer-2), building out a staking program for their token called OUP, and dipping their toes into the metaverse with their own metaverse project (called the VeVeVerse).
This app has become an incredibly addictive habit, and has been the most fun I’ve ever had investing money.
I’ve even been inspired to start working on a new website project related to VeVe, and I spent the past weekend coding most of the site up. More details coming soon, but I’m excited to continue along my journey with this exciting NFT project!