The NFT market is experiencing one of the biggest downturns. After booming in 2020/2021, the non-fungible token ecosystem has seen its value drop sharply by more than 98%. Large collections that used to cost millions of dollars now hardly find buyers willing to spend a lot on “jpg”.
In this market ups and downs, many retail investors have lost millions buying “blue chip” NFTs, many of which today are struggling to keep the project afloat.
However, it wasn’t just retail investors who spent millions on NFTs and are now suffering huge losses. After all, celebrities also jumped on the bandwagon and shelled out a lot of money to buy non-fungible tokens, which today are less than 60% of the amount originally paid for.
Based on this, Bayes Research Institute has compiled a compilation of some celebrities who have spent millions buying NFTs.
Billionaires who have bought NFTs are losing millions
Neymar Jr – Bored Ape Yacht Club #5269: The Brazilian soccer star fueled the NFT craze when he purchased BAYC #5269 in January 2022 for $569,531. The asset is currently valued at $121,992. Therefore, Neymar has already lost $447,539 USD.
In fact, Neymar bought quite a few NFTs in 2022, offering his open gallery to 63 tokens. In addition to #5269, he also owns BAYC #6633, which cost him an additional $480,359 as of January 2022. But the NFT is currently only $88,742. Therefore, the PSG player lost another $391,617 with NFTs.
Another important piece in his collection is MAYC #10953, which Neymar paid $170,639 for in April 2022. Since the NFT is currently only $25,007, Neymar lost a total of $145,632.
Eminem – Bored Ape Yacht Club #9055: Bought #9055 by BAYC for $453,776 on New Year’s Eve 2021. The token is currently worth just $88,746. Therefore, Eminem has lost $365,030 USD, or about $1,000 per day at the time of publication.
Snoop Dogg – Bored Ape Yacht Club #6723: In December 2021, the rapper purchased a set of NFTs totaling $366,324, the main one being BAYC #6723. Today, that entire set is worth less than $25,000.
Madonna – Bored Ape Yacht Club #4988: In March 2022, Madonna purchased “Bored Ape” for $466,461. He currently has a net worth of $88,896. That is, the singer lost $ 377,565 on it.
More people lose money
Justin Bieber – Bored Ape Yacht Club #3001: Justin Bieber paid $1,301,550 for BAYC. He currently has a net worth of just $86,613. Therefore, the singer recorded a loss of $1,214,937.
Paris Hilton – Bored Ape Yacht Club #1294: Paris Hilton is another celebrity who purchased BAYC in January 2022 for $287,055. But now it’s only worth $86,653, so it’s currently losing $200,402.
Serena Williams – CryptoPunk #2950: In June 2021, tennis player Serena Williams paid $177,123 for an NFT from CryptoPunk. However, it is difficult to assess Punk’s current value, as there is nothing else for sale with the NFT properties Serena has purchased.