This investor bought a Bored Ape NFT for $1,700 in 2021 and plans to HODL. He explains why the crypto meltdown didn't stop him from quitting his job to work in Web3.

When he bought his first Bored Ape Yacht Club non-fungible token in May of last year, he paid less than $500 and was certain to flip it for a profit.

Martin lost on his first trade.

He bought another one for around $1,700, or 0.64 ETH, this time, determined to hold onto it, given his belief in the prospects for the digital assets market.

Martin told Insider at the NFT.NYC conference that after he sold, he immediately bought another one for more money.

One ether token was worth $2,700. It has fallen victim to a vicious decline in cryptocurrencies this year and is now worth about 1,100 dollars. The Bored Apes NFT is worth $111,000 at the moment. Insider reviewed Martin's transactions.

Martin said there wasn't a lot going on back then. There were only a few new projects a year ago. A lot of people were saying that Bored Ape would be the nextCryptoPunks and I bought one.

Martin co- founded a marketing company. He had a passion for digital assets when he got into NFTs.

He quit his job at the company he helped launch and is now working for Tribe, a Web3 company, because of his passion for the NFT sector.

There's no better time to get involved in the future of NFTs than now, he said.

While he started off as an investor and trader, he now considers himself more of a collector because he doesn't want to sell his favorite NFTs.

Martin said that he sees Web3 as the future and that the work he is doing for Tribe is more exciting than before.

He said that NFTs may seem like they're only about art and profile pictures, but they're underpinned by sophisticatedBlockchain technology.

NFTs are going to disrupt the industry. "Look where some of the smartest people are going, big time developers, anyone in the computer science space?" The smartest people are moving into this area. That makes me feel better.

Data from NonFungible.com shows that weekly sales have declined by more than 80% from a January peak of nearly $1 billion. After surging past $3 trillion last year, the market cap for Cryptocurrencies has recently fallen below $1 trillion.

Despite the bear market, Martin plans to keep buying more NFTs and buying more coins.

He asked himself if his son was already using virtual screens. Is it better for him to get a bar of gold or a virtual currency? The answer seems clear to me.