Declining interest in NFTs and declining trading volumes have seriously affected soccer star – Neymar Jr. – and famous rapper – Eminem regarding their purchases of digital art.
At the beginning of the year, the Brazilian athlete bought two sets of digital collectibles from Bored Ape Yacht Club for more than $1 million, while their current valuation is around $340,000. Eminem’s paper losses are currently around $330,000.
More celebrities affected by NFT crash
In January 2022, one of the best Brazilian footballers of the past decade – Neymar – bought Bored Ape 6633 for ETH 159.99 and Bored Ape 5269 for ETH 189.69. At the time of purchase, the valuation of the art was approximately $1.05 million.
However, the ongoing crypto winter has not been kind to the NFT sector, and Neymar has registered significant damage to his investments. Currently, Bored Ape 6633 and Bored Ape 5269 are collectively valued at $340,000, which means it’s sitting on more than $700,000 in an unrealized loss.
The only rapper to win an Academy Award—Marshall Bruce Mathers III (aka Eminem)—has also joined the BAYC craze. In January of this year, Bored bought Ape 9055 for 123.45 ETH, or $462.00 at the time. Currently, however, the estimated valuation of his holdings has fallen to around $140,000.
Additionally, Eminem teamed up with another NFT collector – Snoop Dogg – to create a BAYC-themed song, which they performed live earlier this year.
Another celebrity who could not be happy with his investment in NFT is famous DJ Steve Aoki. The American is known among the cryptocurrency community as a collector and creator of such art.
Several months ago, he purchased a portion of the NFT from the Doodles Collection for about $350,000, and according to DappRadar numbers, the item is currently only worth $47,000.
Logan Paul’s huge losses
Speaking about such failed investments, mention should be made of the famous YouTuber, actor and social media personality – Logan Paul.
Earlier this year, he acquired the NFT part of the Azuki collection for $623,000, however, this item is currently only worth $10.
The crypto community on Twitter was quick to comment on Paul’s financial failure. Many users have argued that NFTs are scams and that people should be careful when interacting with them, especially at a time when a lot of noise is being generated.
However, some individuals felt that the YouTuber could recoup some of his losses during the next potential bull market when his NFT valuation heads north.
Paul’s failure isn’t just about non-replaceable tokens. Recently, he admitted that he dropped about $500,000 on his investments in bitcoin and altcoins.
The post here is how much Eminem and Neymar have slipped into their NFT investments for the first time on CryptoPotato.