Logan Paul recently sold a Pokémon card for a record-breaking sum, with the physical trading card proving to be a valuable investment, unlike the NFT he bought in 2021.
Paul bought the rare Pikachu Illustrator card for more than $5.2 million back in 2021, and recently sold it for a staggering $16,492,000 – setting a new record for the most expensive trading card ever sold at auction.
However, the same can’t be said for the Azuki Bumblebee NFT he bought that same year.
It was purchased for $623,000, but today is worth a fraction of that amount.
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Logan Paul’s Azuki NFT has plummeted in value
Back in the early 2020s, non-fungible tokens, or NFTs as they are better known, were touted as the next Bitcoin.
So, plenty of those who missed out on making a fortune through Bitcoin didn’t want to miss out again and parted with huge amounts of cash to get one.
Those who bought them were hoping that the NFTs were a savvy investment and would soar in value.
But, as we now know, that didn’t turn out to be the case.
In fact, the value of NFTs began to swiftly drop not long after their boom in 2022 – although Ferrari has attempted to revive it.
Back in 2021, YouTuber-turned-WWE star Paul was one of many celebrities to snap up an NFT.
He handed over a reported $623,000 to get the Azuki Bumblebee, but just 11 months later, Paul took to X to say that it was ‘worth essentially nothing’.
“A year ago, I spent $623,000 on an NFT,” he wrote in 2022.
“Today, it’s worth essentially nothing.”
And he’s not wrong, fast-forward a few years to 2026 and the Bumblebee is estimated to be worth roughly $155.
Yep, you read that correctly: $155.
Ouch.
However, he recently had a lot more success with his investments, after selling a rare Pokémon card for more than $16 million, earning himself a spot in the Guinness World Records.
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Justin Bieber lost even more money on his investment
Of course, Logan Paul isn’t the only celebrity who lost a lot of cash on NFTs.
Justin Bieber reportedly spent $1,301,550 on a Bored Ape Yacht Club NFT in January 2022.
However, it lost a whopping 95 percent of its value in just one year and is currently worth an estimated $12,000.
The Bored Ape Yacht Club NFTs drew in several high-profile buyers, including Blink-182 drummer Travis Barker, who paid $241,000 in 2022, and Paris Hilton, who shelled out $287,000 in 2021.
Today, both are valued at around $12,184.
Other celebrities who reportedly spent big and lost out during the NFT boom include Snoop Dogg, Madonna, Tom Brady, and Eminem.
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