- Tyler Stockfield (he/him), 28, an NFT trader and influencer best known by his Twitter handle @NFTsAnonymous.
- After a career as a used car salesmen Stockfield has made a killing buying and selling some of the most famous NFTs.
- This as-told-to essay is based on a conversation with Tyler Stockfield by Alex Lockie.
This as-told-to essay is based on a conversation with Tyler Stockfield (he/him), 28, an NFT trader and influencer best known by his Twitter handle @NFTsAnonymous. Stockfield explains his NFT hustle, and breaks down his meteoric rise, his investing philosophies, and the dangers of the largely unregulated $40 billion space. It has been edited and condensed for clarity. These transactions have been verified by Insider.
I got hooked on nonfungible tokens in January 2021 after my NBA Top Shots NFTs, the league’s official digital trading cards, went from $3,000 to $30,000 almost overnight. My friends and family begged me to take profits. I became a true believer and spent most of my time scouring
servers for promising new projects and meeting other NFT traders and Web3 mentors who would change my life.
Before NFTs I had lost almost all direction in my career. I was a decently successful used-car salesperson, but the soulless work was burning me out. As an immunocompromised person, when COVID-19 started making headlines, I took the opportunity to quit my sales job and try to find my purpose. After failing badly at retail trading on Robinhood during the GameStop-AMC craze, I finally found NFTs with Top Shots.
Ever the sports fan, I immediately invested my Top Shots windfall into a Zed Run NFT virtual racehorse, which ended up winning some races. I was also one of the earliest collectors of the iconic Bored Ape Yacht Club NFTs. I could tell there was a special energy around them. I moved on one of rarest apes for $3,000, which was about 12 times the original mint price. I sold it a month later for $165,000 — shattering the previous Bored Ape Yacht Club sale record and sparking a bull run on the collection.
Here’s how I spend my days trading NFTs
Since having my success with NFTs, I don’t participate as regularly on the Discord channels. I also don’t tend to seek out “white lists,” or priority access to certain NFT collections that help people avoid the high “gas” fees of transacting on the ethereum network. White-list projects expect people to spend dozens of hours hyping projects in chats or volunteering labor for the right to buy into the community. But I do start every day at 10 a.m. and can trade well past 4 a.m. at night.
At this point, I don’t trade every day. When I do, I’ll spend $9,000 to $15,000 in a day. Some days, I’ll easily spend over $40,000 and not think twice. If I sense an opportunity, I’ll go for it.
With my high-profile portfolio, I’m a constant target for scams
On Christmas Eve, I excitedly threw $100,000 into what looked like a new coin offering from the popular crypto wallet MetaMask. It turned out to be a scam that hackers had set up to look like a legit venture, and my money was among about $1.8 million lost.
At one point, I got so jaded with the huge sums of money that I gave away a CryptoPunk and a Bored Ape, each worth about $400,000, while promoting my own project, which has yet to succeed.
This is my best advice for new traders
All in all, I have more than 1,000 NFTs, which are worth more than $1 million. I approach NFT trading like a hedge fund and sprinkle the seeds into 10 or 20 projects and hope five grow into giant trees.
My best advice for new NFT traders is don’t trade above your means. Web3 is exciting, but remember to balance your physical, financial, and mental health because 80% of you won’t make it trading if you don’t have tons of
to play with. Think beyond trading, figure out what you’re passionate about and don’t mind doing every day, and contribute that to the space. Look for projects that do the same and prioritize real community over spamming Discord and Twitter.
What gives me the most satisfaction for my money, fiat or crypto, is putting it back into the space. Web3 needs investors. It needs consumers, marketers, creators, but it also needs visionaries — people who can speak to the theoretical side, who can identify sociological occurrences and figure out what value we can derive from them. After all I’ve been through, it’s imperative to me that everyone has an opportunity in Web3 so that everyone can have a voice to empower themselves and the chance to change their lives like I did.