- Man who used to work as a petrol station attendant on weekends became a multi-millionaire when he invested on cryptos early
- Daniel Maegaard was earning just N6,500 hourly when he decided to buy cryptos before the boom happened
- After his investment, Maegaard decided to turn his N1.6 million investment into NFTs and earned over N40 billion
Daniel Maegaard earned just N6,500 per hour working as a filling station attendant on weekends while he studied psychology at the University.
Maegaard was accumulating cryptocurrency while he worked and studied but a combination of skill in technology and luck made him an almost overnight billionaire.
He stumbled on Non Fungible Tokens (NFTs) years before they became what they are now. This allowed him to become a millionaire in the last decade.
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One lucky purchase of CryptoPunk NFT in May 2022 cost him N7.4 million at the time and the value has since surged to more than NN20.7 billion for the digital artwork.
Early Bitcoin investor
The shrewd man, who has made a trip to more than 50 countries, says it all began when he first about Bitcoin in 2013, eight years ago.
He said he was procrastinating on his assignment. He said he never wanted to be a psychologist, according to New Zealand Herald.
According to the jetsetter, he stumbled on a BBC story talking about the supersonic rise of Bitcoin, going from a mere N8,300 to over N20, 700.
Maegaard was studying law after finishing his degree in psychology when the cryptocurrency boomed in 2017.
He said he made enough money in 2017 to be comfortable walking away from everything.
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The Queensland resident invested in blockchains including Bitcoin, PP coin, Lite Coin and Ripple XRP.
His return on investment leapt by 1000 per cent as Ripple performed better than Bitcoin that year, up by 36,000 per cent within a year.
He said older generation gave crypto a bad name and reputation.
Early 2017, Maegaard began with crypto investments worth almost N50 million. In April of 2017, he had become a multi-millionaire.
Maegaard said he never felt more alive as his heart was going like saucepans.
He set his sight on his crypto portfolio and invested even more. By the end of 2017, his N41.5 million had surged to N8.3 Billion.
It was good timing, Maegaard said.
Cashing out big
He cashed out his N4.1 billion and put the money into an Australian commercial and residential property.
At this point, the investor had N74.7 million in passive income flowing into his accounts from tenants.
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He had purchased CryptoPunk 8348, or the "seven traits CryptoPunk", which is valuable because of its rarity.
CryptoPunks are an NFT collection on the Ethereum blockchain launched in 2017 by the Larva Labs studio.
There are only 10,000 unique CryptoPunk tokens and the artworks are entirely "on-chain", meaning nobody can alter the code which also means there will never be more than 10,000 punks.
Student turns hobby into a multi-million dollar business
Meanwhile, Legit.ng has reported that Two years, ago MBA student, Wilglory Tanjong from Senegal, launched her bag business for fun.
Now, she sells her bags everywhere, including Nordstrom and Revolve and also got pop singer, Beyonce to endorse her bags on Instagram.
Amina Iris, as her bag business is known, has made over N290.5 billion in lifetime revenue since launching in 2020 with about N250.5 million in 2021 alone. Her company has recently earned about N41.5 million revenue every month.