Logan Paul’s $623K NFT Today Worths $10
The YouTuber-turned-boxer Logan Paul purchased a specific NFT from the Azuki collection for $623,000, which values to almost nothing today!
Logan Paul, an American YouTuber, is renowned for spending a lot of money on ostentatious items. The Maverick invested more than $620,000 in Azuki’s Bumblebee NFT in August 2021. (non-fungible token). Currently, it costs just $10. Over the past year, Logan has spent over $2 million on NFTs. Azuki’s NFT is still his most pricey acquisition to date. Sadly, the charming social media star’s investment fell by 99%, rendering his purchase useless.
Logan Paul paid $623,000 for this NFT that's now worth $10 ……
Draw your own conclusions … pic.twitter.com/VCbLVRwpt0
— Wall Street Silver (@WallStreetSilv) September 28, 2022
Due to its inventiveness and labour-intensive creation, the Azuki NFT collection is regarded as one of the “precious” valuable NFTs on the market. Logan’s purchase, though, suffered a sharp decline in value as a result of the cryptographic currency meltdown.
Why Did Logan Paul’s NFT Crash?
One needs to be familiar with the concept of “Crypto Winter” in order to comprehend the main cause of Logan Paul’s failing endeavour. The phrase refers to a moment when asset prices are at all-time lows on the market for an extended length of time.
Logan Paul’s NFT he purchased for $623k is now worth only $10 😳‼️ pic.twitter.com/1LdfhYYCgH
— RapTV (@Rap) October 10, 2022
Cryptocurrency Many digital acquisitions have now lost more than two-thirds of their initial costs in the last few months, reflecting the impact of winter on a number of NFTs. One of the unfortunate investors who suffered a significant loss as a result of the market collapse is Logan Paul.
— NFT Bros Taking Ls (@FungersTakingLs) October 9, 2022
Logan Paul has continued with his NFT endeavours despite the defeat. In fact, he recently finished his 99 Originals line, which brought in millions of dollars in revenue.
Logan Paul claimed in a tweet that he had spent an additional $20K creating the helmet, which was an exact reproduction of the Bumblebee helmet image posted on Azuki’s NFT.
Logan Paul comments on the NFT Iman Gadzhi purchase… #nft #web3 #loganpaul #imangadzhi #shorts pic.twitter.com/TNkoalPfBC
— Designer (@minjin3594) October 5, 2022
It’s interesting to note that Logan has lost games prior to the Azuki NFT as well. The 27-year-old also disclosed in August 2021 that he had paid $155K for Genesis Rocks #65 and #68. The first is barely worth $25.
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