6 Celebrities Who Lost Millions In The NFT Crash
The NFT market has crashed in recent months, and celebrities have not been spared. Here are the top 6 celebrities who have lost millions in NFTs.
Justin Bieber: Bieber purchased a Bored Ape NFT for $1.3 million in January 2022, but it is now worth an estimated $59,000.
Logan Paul: Paul spent over $2.5 million on NFTs in 2021, but his collection has now lost over 60% of its value.
Steve Aoki: Aoki has lost a significant amount of money on his NFT investments, including his eight Bored Ape NFTs.
Snoop Dogg: Snoop Dogg spent $7.09 million on an NFT called Right-click and Save as Guy, which is now worth significantly less.
Neymar Jr.: Neymar Jr. spent over $1 million on two NFTs from the Bored Apes Yacht Club, but their value has now declined by over $700,000.
Marshmello: Marshmello purchased an NFT called KajuKing #1680 for $1.4 million AUD in October 2021. This NFT is now worth an estimated $2,000 AUD.
In addition to the celebrities listed above, it is also worth noting that nearly 60% of NFT trading volumes in 2022 were wash trades. Wash trading is a type of market manipulation in which a trader buys and sells a security to simulate increased trading volume and activity in the market.
Whether its tulip bulbs, the Nifty-Fifty, Japanese real estate, dotcom stocks, beanie babies, the housing bubble, or NFTs, there will always be another investment fad right around the corner.
