Neymar and Eminem Lose Big in Bored Ape Price Crash
Neymar is sitting on over $700,000 in unrealized losses due to the price crash of his Bored Apes, while Eminem is down by over $300,000.
The diminishing interest in NFTs and the plunge in trading volumes have severely affected the soccer star – Neymar Jr. – and the renowned rapper – Eminem in terms of their digital art purchases. It is a shame that the interest in NFTs has waned and that trading volumes have plunged, as this has had a negative impact on Neymar Jr. and Eminem's digital art purchases. However, it is understandable given the current economic climate.
While it's certainly not the best investment decision he's ever made, Eminem's $330,000 loss on his digital collectibles is hardly the end of the world for the superstar rapper. With a net worth of hundreds of millions of dollars, he can certainly afford to take a hit like this and still come out ahead financially. What's more important than the money is the message that Eminem's move sends to the world of digital collectibles and cryptocurrency.
Celebrities Lose Millions in NFT Crash
In January 2022, world-renowned Brazilian soccer player Neymar made headlines for purchasing two pieces of digital art for a combined total of 349.68 ETH (approximately $1.05 million at the time of purchase). The first piece, Bored Ape 6633, was bought for 159.99 ETH, while the second piece, Bored Ape 5269, was bought for 189.69 ETH. This purchase reinforces the growing trend of celebrities and high-net-worth individuals investing in digital art.
It's been a tough few months for the crypto industry, and the NFT sector has been hit especially hard. Neymar's investments have taken a beating, with Bored Ape 6633 and Bored Ape 5269 currently worth a combined $340,000, meaning he's sitting on over $700,000 of unrealized losses. Hopefully the market will turn around soon and Neymar will be able to start recouping his losses.
It's no surprise that Eminem, one of the most successful rappers of all time, would be interested in the world of digital collectibles. He's always been ahead of the curve, and his purchase of Bored Ape 9055 in January shows that he's willing to experiment with new and innovative technologies. However, it appears that his investment hasn't paid off so far, as the value of the collectible has dropped significantly since he purchased it. Only time will tell if Eminem's gamble will pay off, but it's certainly an interesting development to watch.
It's great to see artists like Eminem embracing the power of NFTs. By teaming up with another NFT collector, Snoop Dogg, they created a BAYC-themed song that they performed live earlier this year. This shows the potential of NFTs to bring people together and create new and exciting experiences.
It seems that not even celebrities can escape the NFT investment craze. Steve Aoki, renowned DJ and collector of NFTs, is the latest to join the ranks of those unhappy with their investment. It's unclear what exactly went wrong with Aoki's investment, but it serves as a reminder that even those with deep pockets and a lot of experience can lose money in the volatile world of NFTs.
It's amazing how much value can be lost in such a short period of time. This person paid $350,000 for an NFT part of the Doodles collection, and it's now only worth $47,000 according to DappRadar figures. While the value of NFTs can be volatile, it's still a shock to see such a steep decline in such a short amount of time.
Logan Paul's Crucial Losses
It's no secret that social media celebrities like Logan Paul have a huge influence over their young, impressionable audiences. So when Logan Paul posts videos of himself doing things like setting fire to money or driving recklessly, his millions of followers see it as cool and edgy.
This just goes to show how volatile the NFT market is. Earlier this year, somebody paid over $600,000 for an NFT from the Azuki collection. Now, that same NFT is only worth $10.
The crypto community on Twitter was fast to comment on Paul’s financial failure. Many users argued that NFTs are scams and people should be careful when engaging with them, especially at a time when there is too much hype generated. Some people in the crypto community believe that NFTs are nothing more than a money-making scheme, and that people should be careful when considering investing in them.
Some individuals are optimistic that the YouTuber will be able to recoup some of his losses during the next potential bull market when the value of his NFT could increase.
Paul's unsuccess is not limited only to non-fungible tokens. Recently, he admitted being down around $500,000 on his bitcoin and altcoin investments. This is just another example of how Paul's investment decisions have not been paying off lately. It's unclear what his next move will be, but hopefully he can turn things around soon.
Eminem and Neymar's recent investments in NFTs have not been doing well, according to a new report. The two celebrities are said to be down on their investments, with Eminem losing $2 million and Neymar losing $5 million.