With the help of his brother, entrepreneur Adam Tan, Chen decided to turn it into a business, establishing a company called Freedom Nation that “bridges and provides resources for people of all levels to prosper in the inevitable migration into the metaverse”.
In three months, he claimed, they have generated S$500,000 of value, based on the value of SLP at average market price, and they are on track to hit a million dollars in the next three months. He values the company at S$12 million.
His wife “used to give me a lot of shit for playing games, mainly passive aggressively,” he laughed. “But now, when she sees me playing games, she gets me tea or snacks, and asks me not to work too hard. Gotta love blockchain gaming!”
Chen said he dived deep into educating himself on blockchain and cryptocurrency, watching lots of explainer videos and reading books and white papers.
“I lost a decent chunk of money at the start, but I took it as school fees,” he said.
In the not-so-distant future, he said, people will spend more time in the digital space than in the physical world.
“I don’t see it as a good or bad thing, I think it’s a natural progression, just like radio to TV to Netflix. The younger generation are already living in Fortnite and Roblox. It is just us old folks who are still fearful of this change.”
In his case, adversity bred innovation. “I think I would never have been able to do (this venture) if I had been healthy and had enough money,” he said. “Being down and out has its perks!”
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