- Logan Paul bought his Azuki “Bumblebee” non-fungible token (NFT) in 2021, but since then, its value has considerably decreased.
- Paul disclosed that he was selling a duplicate of the NFT on July 13, 2022, and that the cost of the NFT had dropped to “nearly nothing.”
- In the blockchain industry, the weekly trading volume of nonfungible tokens, or NFTs, has decreased to $114.4 million.
Since American YouTube celebrity Logan Paul initially acquired his Azuki “Bumblebee” non-fungible token (NFT) in 2021, its value has fallen significantly. Twitter user @WallStreetSilv noted that the price of the NFT has since dropped to $10. He also commented on the silver and gold markets.
Logan Paul paid $623,000 for this NFT that’s now worth $10 ……— Wall Street Silver (@WallStreetSilv) September 28, 2022
Draw your own conclusions … pic.twitter.com/VCbLVRwpt0
The 10,000 hand-drawn profile photo avatars in the Azuki collection guarantee a purchaser’s entry into a closed Web3 community, airdrops, and a Discord community.
On July 13, 2022, Paul revealed that the NFT cost had decreased to “almost nothing,” and he was selling a duplicate of the NFT as part of a brand-new line of merchandise called 99 Originals.
Logan’s OpenSea collection, which contains NFTs from CryptoPunks, World of Women, and Azuki, had considerably decreased in value as of the time of publication. According to nftpricefloor, the collection’s floor price at the time of publication was 9 ETH, and a bid for white Logans Uzuki was 2 ETH.
The weekly trading volume of nonfungible tokens, or NFTs, in the blockchain space, has fallen to $114.4 million, according to statistics collated from Dune Analytics.
When compared to the $6.2 billion seen near the end of January, this is a 98% drop. Early in April, the weekly NFT trading volume reached a record high of $146.3 billion before precipitously plummeting in May as the ongoing crypto bear market got underway.
Paul used Forj, a startup aiming at the mass adoption of Web3 and NFT tech, to run an NFT sale in February 2021 during the heady days of 2021 that saw well-liked collections like Bored Ape Yacht Club surge. The cost of each of the 3,000 NFTs was set at 1 ETH.
Following that, the influencer created NFTs of his Pokemon card collection’s unboxings, which were promptly sold out.
Paul disclosed in December 2021 that the Azuki NFT had cost him the most, $2.645 million, of the $2.645 million he had spent on NFTs in 2021. He possesses 4500 NFTs at the moment, according to OpenSea.