Twitter user spent 0.1 ETH on an NFT and earned a 290x return

Twitter user Alex Reyes sold the NFT he won in a raffle for 29 ETH (over $93,000).

Holy shit my dream came true. I sold one NFT today for 29 ETH ($93,000.39)

I can pay off my student loans!!! pic.twitter.com/D4jwF3pXX2

— Alex Reyes (@alexreyes243) August 29, 2021

He said he has been into cryptocurrencies since 2019 and has earned a little ether from various entertainment projects.

Since 2019, Reyes has bought about 11 NFTs, including a non-fungible token from the Blitmap collection, created by the artist dhof and a company.

“I liked the style. Two months ago I paid 0.1 ETH for it ($198 at the time)”, the user said.

Recently dhof held a lottery among Blitmap holders and raffled off an NFT from his new project. Alex Reyes was among the winners and received one of 16 copies of the Pluto’s Quill token (Pluto’s Quill).

“I was on cloud nine. The previous price of Pluto’s Quill stood at 20 ETH. I calculated that if I could sell it for 29 ETH, after taxes I would have enough to pay off my student loans,” Reyes wrote.

With little hope he listed the token for sale and on August 29 learned that Pluto’s Quill had been purchased by a user going by the handle zoink.

“Honestly, I have no idea how that happened. I was just incredibly lucky,” Reyes admitted.

The move yielded 290x more cryptocurrency than he invested. The fiat value at current rates has surpassed the initial outlay by 470x. Reyes plans to use it to pay down the loan. However, commenters advise him not to sell the cryptocurrency or to reinvest the funds.

HODL, wait for debt jubilee. Is the interest on your loans greater than ETH appreciation?

— Jesse Powell (@jespow) August 29, 2021

“HODL! Is the interest rate on your loans outpacing ETH appreciation?”, they ask.

Earlier ForkLog reported that a British schoolboy earned about $350,000 from pixel-whales NFTs.

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