Metaverse is my worst investment in blockchain so far. Whichever way I look at it, I'm now facing a hefty 90% loss, it's too late to sell.
I clearly bought too high, but this sounded like it could rival Neo et al way back when their notional market cap was $140m. What a joke that is now.
So I'm just taking this time to try and learn whether or not I got scammed here, misunderstood something, or suffered bad luck.
I might be blind but I'm still inclined to think now that the team at least tried to make this project work technologically but they didn't have the required skill set or motivation to reward retail investors in the way that other projects have done? Maybe they thought that their market valuation wasn't ever justified at $140m?
Question now, is it too late to get some serious commercial applications coveting their blockchain? And in doing so, to create some demand for their token where the money is? And can the communication and marketing channels ever wake up and get noticed properly?
There's a crypto lesson to be learned from this experience -- refrain from buying stuff at the peak of its hype, or if you must, only nibble. There are so many cryptocurrencies that you don't have to fall in love with the idea of one. Sure you'll miss out on some things that will continue to go up, but you'll miss out on everything that's going to crash really hard as well, so it's an overall safe strategy. Thus, you should target things you like where the price has stabilized to some degree or has at least pulled back substantially from a peak.