Neymar, Eminem, & Madonna Lose Millions on NFTs

Neymar has an unrealized loss of $700K with his NFTs
In January, the Brazilian football star spent more than $1 million to purchase two Bored Apes
Other artists, musicians, and YouTubers have also experienced significant losses from their NFTs

Celebrity NFTs: Neymar da Silva Santos Junior, more commonly referred to as “Neymar,” is a professional football player from Brazil. Even though he plays great football, he might not be very good at investing.

After purchasing NFTs and then watching them bottom out, the soccer star is currently suffering from a loss of approximately $700,000.

Neymar and NFTs

In January of this year, Neymar entered the world of non-fungible tokens (NFTs). The Paris Saint-Germain star spent approximately $1 million on two NFTs from the Bored Ape Yacht Club (BAYC) collection at the time. He used one of his apes as a proud profile picture on his Twitter account at the time.

The current value of Neymar’s two Bored Apes is less than $350,000.EneJayVault, Neymar’s other ape, is stored in his wallet.

NFTs of celebrities: Neymar is not the only celebrity to have suffered significant losses from NFTs.

Eminem, who is regarded as one of the greatest rappers of all time, has also incurred financial losses as a result of his NFT purchases. He purchased the Bored Ape 9055 in January for 123.45 ETH, or approximately $462,000.

The price of the token has since decreased to $140,000.Even the singer’s actions within the BAYC ecosystem had no effect. He released a music video in June with Snoop Dogg in which the two rappers bring their Bored Apes to life.

BAYC prices continued to fall despite fans’ praise for the initiative and the video’s 56 million views on YouTube.The company behind the collection has taken a number of steps to improve the ape ecosystem.

However, the volume of sales for the collection is still at all-time lows.

With their losses, other famous people like Neymar and Eminem are in good company. Like Madonna, other famous people who decided to get a BAYC are also losing a lot of money on their NFTs.

DJ Steve Aoki is another artist who has lost money. Additionally, a few months ago, Aoki invested approximately $350,000 in the Doodles collection. According to DappRadar, the NFTs he currently possesses is worth less than $50,000.

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Losses and NFTs by celebrities

The most famous case involving a celebrity and their losses due to NFTs is Logan Paul’s, which turned $623,000 into $10. At the beginning of this year, the well-known influencer and YouTuber purchased an Azuki NFT for $623,000.At the moment, the cost of this asset is only $10.

Since his initial purchase, Paul’s OpenSea collection, which also includes NFTs from World of Women and CryptoPunks, has decreased significantly. On social media, the sharp devaluation of celebrity NFTs quickly went viral, and many people used this as an example to argue that NFTs are a scam or have no real value.

However, once the crypto winter ends, this segment may regain prominence. However, Logan Paul faces additional obstacles on his way out of the negative zone. He also claims that his investments in Bitcoin and other cryptocurrencies have cost him half a million dollars.

Will the celebrities Neymar, Eminem, and others simply have to wait for the next market upswing? Will they realize that the value of their NFTs will remain the same as it was at the peak? Let’s pay attention to the situation.