Two weeks ago I wrote an article where I pointed out that a little unknown company to most was doing wonders in the Crypto/DeFi space, that company being Kryptonite 1, otherwise known as KR1. Well that company has once again shown the kind of magic they are able to pull of with a 52 bagger investment and more people need to be aware of what they are doing!
KR1 originally made an investment in Nexus Mutual back in early 2018 where they purchased 110,775 NXM tokens for approximately $2.28 each. A year later, the company decided to make an additional investment as Nexus Mutual launched to the wider public. The additional investment was for a further 29,182 tokens at a price of $2.53 each.
The investments has paid off big time. Currently a Nexus Mutual Token trades for $121 each, a total gain of over 5000%. Outstanding capital appreciation in such a short period of time. The original $200k investment is now worth in total over $10m, which is slightly lower than it could have been but they sold over 30,000 tokens in July 2020.
So, who are Nexus Mutual? NXM are trying to recreate the mutual insurance company model on a global scale, by bringing people together to share risk, without the need for an insurance company. Built on Ethereum, the NXM project currently offers cover for an array of popular smart contracts and is becoming a crucially important element in the rapidly expanding Ethereum DeFi (“Decentralised Finance”) ecosystem.
The team behind KR1 mange to pull of some absolutely fantastic investments in the DeFi space. The Nexus Mutual investment is just one of a handful where management have been able to see value where other can’t. Massive congratulations to anybody invested in them and to the company itself for pulling off such a massive win.
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