“Get in on “Crypto IPOs”

The MIM is back in town.

Don’t feel out-of-the-loop if you’ re not familiar with The MIM. I’ve just now made up that acronym.

It’s short for Magical Internet Money.

I’ve told you about this money before.

The real term is “airdrops”—when a crypto company dumps a bunch of free tokens into your wallet. I liken it to the crypto version of an initial public offering, or IPO.

The only difference—and it’s a huge one—is that I don’t have to buy the shares initially. The crypto project gives them to me for free for having used their services over months or years… or days, as the case may be.

Last week… well, it was a very good week for El Jefe (that’s me).

Two airdrops landed in my wallet.

One is called Ethena; the other, Wormhole.

I picked up Ethena because I had converted one stablecoin called U.S. Dollar Coin, or USDC, into another stablecoin called USDe, an Ethena-built stablecoin. (Stablecoins are basically crypto that are structured to maintain a 1:1 peg with the dollar. Crypto traders/investors use stablecoins to either earn yield, much like a savings account, or to sit in cash without having to turn crypto into fiat currency.)

As for Wormhole, it’s kind of exactly what it sounds like. A “hole” through the cryptosphere that allows traders to send a cryptocurrency from one blockchain to another blockchain, where it converts into a crypto usable on that blockchain. (You see, sort of like how a wormhole would take a starship from one part of the galaxy to another in Star Trek.)

So, for instance, if I need Ethereum in one of my crypto wallets, but all I have is Solana in another wallet, then I would use Wormhole to send my Solana from the Solana blockchain and have it arrive as Ethereum on the Ethereum blockchain.

Sounds like high-fallutin’ techy stuff, but in the simplest of terms it’s practically no different than asking your bank to send $10,000 to Europe and have it show up as euro in a European bank account. That happens through a SWIFT network transfer.

Wormhole is the SWIFT of crypto.

I’ve used Wormhole numerous times over the last couple of years to move crypto from one chain to another for various needs.

Because I’ve used Ethena and Wormhole in my daily crypto activities, both services airdropped tokens to my crypto wallets last week.

The value of the Ethena drop is, as I write this, just under $1,700.

The value of the Wormhole drop: $6,553.

So, two airdrops for a combined value of just over $8,250. Not a bad week, really.

And I’m not even counting the drop I’ll receive from Hava Coin, a so-called meme token that tries to play off, well, a popular meme. I’m in line to collect about 5.4 million Hava Coins, but I have no idea yet what they’re worth.

Oh, and I just looked at a spreadsheet and forgot that I collected another airdrop last week from another meme project called Puff the Dragon. (Yeah, I know: Goofy names. But you can call a token Blue Haired Grannies on Crack for all I care. This stuff has real value. The Puff drop is currently worth more than $1,400.)

So, I received nearly $10,000 in two weeks.

All these drops are just another example of the flood of money that’s printing these days in the cryptosphere.

Every time I share these stories with friends and colleagues, they all use the same adjectives: “insane,” “crazy,” and “bonkers” are the three that show up most in the replies.

I get that.

This kind of money raining down from the crypto heavens is very much insane, crazy, and bonkers. There’s really no other way to describe it. I mean, I can tell you why it happens, but that doesn’t make it sound any less “Bizarro World” to those of us used to traditional finance.

The short version: The cryptosphere is a very egalitarian space. A core belief among crypto investors and project owners reflects a saying popular in the South, where I grew up: “You go home with the girl who brung ya’ to the dance.” And for crypto projects, that means giving back to your users when it’s time to “go public,” rather than selling out solely to institutional investors.

Projects want their users to benefit from the efforts their users put into the project’s success. It’s a very “Gen Z” and “millennial” approach to money and equality.

Despite being Gen X, I’m certainly not finding any fault with that philosophy. Not when it’s raining crypto down on me!

I do wish I had the power to convince everyone that they really need to be exposed to crypto.

That’s a heavy lift because so many people are unnerved by an asset they cannot see, based on a technology they do not understand, using a lexicon that to a lot of people could just as easily be Klingon.

And yet the money flows and flows and flows… and flows some more.

I am already telling members of my most advanced crypto service (Frontier Fortunes) about how to get in on specific airdrop plays, as well as some of the hot sectors that are booming in crypto right now, including crypto’s take on AI. (If you saw my dispatch yesterday about the person close to me who collected more than $815,000 in a single day—that money came from a new AI-focused crypto.)

We are still at the dawn of what I call a once-in-a-species shift as money morphs from paper into electrons.

Miss this moment, and you miss the wealth it’s already creating. It’s wealth that—assuming my statistics are right—about 96% of the world still doesn’t know about.

You do know about it. Now’s the time to make use—and make wealth—of that knowledge.