Logan Paul, Justin Bieber, Neymar, Madonna and others sit deep $NFT Losses will come as the 2021 celebrity hype cycle gives way to a utility-focused market reset.
summary
- Multiple celebrities who purchased NFTs near their peak in 2021 now hold assets that have fallen more than 90% from their purchase price, per blockchain and market data.
- Logan Paul’s 0N1 Force $NFT And Justin Bieber, Neymar, Madonna, Curry, Eminem and Fallon’s Bored Apes are all trading well below their acquisition prices, tracking broader market trends. $NFT A slump.
- While the value of fine collectibles is declining, $NFT Activities have shifted towards gaming, identity, ticketing and brand engagement, with an emphasis on practicality over luxurious flexibility.
Multiple celebrities who purchased non-fungible tokens during the market peak in 2021 experienced large losses. $NFT Valuations have fallen, according to public blockchain data and market estimates.
You may also like: Binance’s stablecoin reserves drop by $9 billion, signaling decline in risk appetite
Logan Paul buys 0N1 Force $NFT Its value has since plummeted, according to blockchain records. Justin Bieber purchased Bored Ape #3001, and its value is currently estimated to be significantly less than the purchase price. Soccer player Neymar purchased two Bored Ape NFTs, but their total value has decreased significantly from their original acquisition cost.
Madonna buys Bored Ape $NFT Basketball player Stephen Curry purchased Bored Ape, which is currently trading at a lower valuation, according to market data. Rapper Eminem bought Bored Ape, which also declined in value. TV host Jimmy Fallon purchased Bored Ape, which is currently below its highest price.
$NFT Market analysts say prices have soared in 2021 following celebrity endorsements and increased speculative demand. During the period, the minimum prices for major collections increased. Due to tight liquidity in the virtual currency market in 2022 and 2023, $NFT The market has experienced a long period of contraction, with many collections losing a significant portion of their peak value.
Bored Ape Yacht Club, formerly considered prestigious $NFT According to market tracking data, floor prices have fallen from peak levels to lower ranges in subsequent market cycles.
Celebrity purchases in 2021 occurred near the market peak, reflecting late-cycle momentum, according to blockchain transaction records. The price decline follows the pattern observed in previous speculative market cycles.
Despite the decline in collectibles $NFT According to industry reports, pricing and activity for gaming assets, digital identity, ticketing, and brand engagement applications continues. Analysts say the market is shifting away from high-end collector’s pricing and towards models that emphasize practicality.
2021 $NFT According to market observers, the market cycle followed a pattern of cultural adoption, celebrity participation, speculative activity, and subsequent price declines. Industry participants reported that the concept of digital ownership continues to evolve in games, media, and tokenized identity applications.
read more: Logan Paul’s $16.49 million Pokemon card sale makes collectibles history