Money. Earn it. Keep it. Grow it.

Long ago, someone I highly respected summarised money management using those seven words.

You are probably good at maybe one or two of them, but few people are skilled at all three.

Why?

Because it takes consistency and discipline, which is challenging, especially when it comes to money.

If you want to thrive and not just survive in the NFT space, you need to be good at all three, and if you don’t know how, spend time learning from the best.

Here are 8 lessons I learnt from the best NFT investors and how they keep and grow their money.

1. Re-invest profits into stablecoins and earn interest that outperforms inflation.

2. Invest in fewer projects and double-down on high conviction plays.

3. Find quality projects that have yield without having to sell the underlying.

4. If it all goes to zero, have enough capital on the side that your lifestyle does not change.

5. Set aside an amount for taxes.

6. Always have liquidity to buy crypto-currency when prices adjust.

7. Have a list and a budget for projects you want to invest in across blue-chips, mid-chips, and low-caps.

8. When you are successful, celebrate the moment and remember to be grateful.

Underneath the noise of the NFT markets, there are key money management lessons, however, NFTs and DeFi have a steep learning curve and it is not for the faint hearted.

The barrier to entry is curiosity and knowledge. Still, once you embrace the challenge, your world perspective will never be the same.

As Jim Rohn said, “success is nothing more than a few simple disciplines, practised every day”.

*None of the above is financial advice.There are risks associated with investing in NFTs.