Neymar, Eminem, Madonna, and Logan Paul Lose Millions

NFT

Movie star NFTs: Neymar da Silva Santos Júnior, or ‘Neymar’ as he’s extra generally recognized, is a Brazilian professional footballer. Whereas he’s an incredible footballer, his investing abilities might not be so stellar.

The soccer star is at the moment nursing a lack of roughly $700k after buying NFTs after which subsequently watching them bottom-out.

Neymar and NFTs

Neymar entered the world of non-fungible tokens (NFTs) in January of this yr. On the time, the Paris Saint-Germain star shelled out about $1m to purchase two NFTs from the Bored Ape Yacht Membership (BAYC) assortment. On the time, he proudly put considered one of his apes as a profile image on his Twitter account.

Neymar’s two Bored Apes are at the moment value lower than $350,000.

Neymar’s different ape sits in his pockets known as EneJayVault.

Supply

Movie star NFTs: Taking losses

Neymar is just not the one celeb who has had large losses with regards to NFTs. Thought-about one of many biggest rappers of all time, Eminem has additionally suffered monetary harm from his NFT purchases. In January, he purchased the Bored Ape 9055 for 123.45 ETH, about $462,000 on the time.

Supply

Since then, the token’s value has dropped to $140,000. Not even the actions taken by the singer across the BAYC ecosystem had any impact. In June, alongside Snoop Dogg – he launched a music video the place the 2 rappers convey their Bored Apes to life.

Regardless of followers praising the initiative and the video having greater than 56 million views on YouTube, BAYC costs continued to fall. The corporate behind the gathering has taken a number of initiatives to develop the ecosystem across the Apes. However the assortment’s gross sales quantity continues to hit new lows.

Different celebs

Neymar and Eminem are in good firm with their losses. Different celebrities who determined to accumulate a BAYC, as is the case with Madonna, are additionally sporting large losses with their NFTs.

One other musician who has accrued losses is DJ Steve Aoki.

Aoki, along with being a collector, has minted his personal non-fungible tokens. On the time, he famously mentioned that he earned more cash from NFTs than he did from his music.

Aoki additionally invested round $350,000 within the Doodles assortment just a few months in the past. Presently, the NFTs in his possession are value lower than $50,000, in line with DappRadar.

Movie star NFTs and losses: $623,000 turned $10

Probably the most symbolic case involving a star and their losses with NFTs is that of Logan Paul. The well-known influencer and YouTuber purchased an Azuki NFT for $623,000 earlier this yr. This asset is at the moment priced at simply $10.

Supply: OpenSea

Paul’s assortment on OpenSea, which additionally contains NFTs from CryptoPunks and World of Ladies, has dropped considerably since his unique buy.

The sharp devaluation of movie star NFTs quickly went viral on social media, with many utilizing this instance to assert that NFTs are a fraud or haven’t any actual worth. Nevertheless, this section could come again to prominence as soon as the present crypto winter thaws.

For Logan Paul nonetheless, his climb out of the damaging zone has further obstacles. He claims that he additionally has a lack of half 1,000,000 {dollars} on his investments in Bitcoin and altcoins.

Will Neymar, Eminem and the opposite celebrities simply have to attend for the following upswing available in the market? Will they see their NFTs shall be value the identical quantities that they have been on the peak? Let’s control the scenario.

Opinions seen on this web site shouldn’t drive any monetary selections from readers.