His investing skills might not be good despite being a good football player. The player purchased NFTs and has since bottomed out. The soccer player is currently nursing a loss of over $700,000.
Neymar and NFTs
In January this year, Neymar made his foray into the world of non-fungible tokens (NFTs). Neymar spent roughly $1 million to acquire two NFTs from the Bored Ape Yacht Club (BAYC) collection. He then set one of his gorillas as his Twitter profile photo.
The current market value of Neymar’s two bored apes is under $350,000. EneJayVault, another ape owned by Neymar, is in his wallet.
Celebrity NFTs Taking Losses
Regarding NFTs, Neymar is not the only celebrity suffering losses. Eminem, one of the best rappers of all time, has also experienced financial loss due to his NFT purchases. He acquired the Bored Ape 9055 in January for 123.45 ETH, or around $462,000.
The token’s cost has decreased to $140,000 since that time. There was no impact from the singer’s acts on the BAYC ecosystem. He and Snoop Dogg created a music video in June featuring their Bored Apes, whom they brought to life.
The project received praise, and the YouTube video got more than 56 million views. BAYC prices kept dropping. The firm responsible for the collection has launched some steps. The steps are to improve the environment surrounding the apes. However, the collection’s sales volume is decreasing.
DJ Steve NFT Loses
Neymar and Eminem are in good company with their losses. Like Madonna, several famous people who decided to buy a BAYC suffered losses with their NFTs.
DJ Steve Aoki is another artist that has accrued losses. Aoki has created his non-fungible tokens in addition to being a collector. He asserted that he made more money selling NFTs than he did from his songs at the time.
Aoki also recently invested about $350,000 in the Doodles collection. According to DappRadar, his NFTs now aren’t worth more than $50,000.
Logan Paul and NFT
Logan Paul’s situation is the most emblematic. The YouTuber and influencer purchased an Azuki NFT earlier this year for $623,000. Right now, this asset is only worth $10. Paul’s collection on OpenSea, with NFTs from CryptoPunks and World of Women, decreased.
The sudden devaluation of celebrity NFTs quickly gained popularity. Many people used this example to argue that NFTs are fake or have no genuine worth. However, once the present crypto winter thaws, this segment can regain its prioritization.
But Logan Paul faces extra obstacles as he attempts to leave the negative zone. He asserts that his investments in Bitcoin and other crypto have cost him $500,000 in losses.