From Fine Art to Bored Apes and Punks: Blue Chip NFTs Owned by Celebs Lose Significant Value

During the week of Jan. 30 to Feb. 5, 2022, the hunt word “NFT” had a Google Trends (GT) people of 90 and contiguous the GT people has dropped a large woody down to a people of 12. Not lone has involvement declined, but bluish spot non-fungible tokens (NFTs) don’t clasp the worth they erstwhile did astatine the opening of 2022. For instance, statistic amusement the Bored Ape Yacht Club (BAYC) collection’s marketplace valuation based connected level values was worthy $2.33 cardinal connected Feb. 3, 2022 — 291 days aboriginal and the collection’s marketplace headdress is present worthy $615 million. Celebrities holding bluish spot NFTs similar BAYCs and Cryptopunks person seen their NFTs suffer a large woody of worth implicit the past 9 months.

Blue Chip NFT Market Caps Slide Significantly Lower Since the Start of the Year

Popular non-fungible tokens (NFTs) stemming from circumstantial collections similar BAYC, Cryptopunks, Clonex, Mutant Ape Yacht Club (MAYC), Azuki, and Moonbirds are inactive pricey integer collectibles. For instance, the lowest valued Moonbird NFT is astir 7 ether oregon $7,906, portion a BAYC NFT volition outgo 57.50 ether oregon $63K.

Statistics from nftpricefloor.com connected Tuesday, Nov. 22, 2022.

Statistics from nftpricefloor.com amusement that connected Nov. 22, 2022, the Cryptopunks postulation held the largest marketplace capitalization of astir 619,900 ether. That’s not overmuch little than the Cryptopunks level capitalization the postulation had connected Feb. 3, 2022, erstwhile it was 650,000 ETH.

However, the terms of ethereum per portion connected Feb. 3 was astir 2,667 nominal U.S. dollars per ether. That means portion the level capitalization was worthy $1.73 cardinal 9 months ago, contiguous the marketplace headdress is down to $685.16 million.

This means the Cryptopunks NFT postulation dropped by 60.47% during the past 9 months. The aforesaid tin beryllium said astir BAYC’s NFTs arsenic the marketplace headdress has dropped from 875,000 ether worthy $2.33 cardinal connected Feb. 3, to today’s 556,900 ETH worthy $615.53 million.

NFTs Owned by the Rich and Famous Lost Massive Amounts of Value successful 9 Months

The information shows during the past 9 months, BAYC’s postulation dropped by 73.62% against the U.S. dollar. On Jan. 2, 2022, the rap prima Eminem purchased BAYC #9055 for 123.45 ether and astatine the time, it was worthy astir $452K.

Eminem moved his BAYC from the “Shady_Holdings” relationship helium uses connected Opensea to the code “0x79f.” Dappradar.com estimates amusement Eminem’s BAYC is lone worthy 57.96 ETH contiguous oregon $63,934.

Eminem’s NFT astatine that estimated worth means BAYC #9055 mislaid 85.85% successful worth since helium archetypal bought the NFT. Pop prima Justin Bieber acquired Bored Ape #3001 for 500 ETH which was worthy $1.3 cardinal astatine the time. Today, Bieber’s BAYC NFT is worthy little than 60 ETH oregon astir $69K.

Socialite Paris Hilton leveraged the institution Moonpay to bargain Bored Ape #1294 for 119 ether oregon $317K. At the extremity of November 2022, Hilton’s BAYC #1294 is lone worthy $63,783 according to existent estimates.

The aforesaid tin beryllium said for a myriad of celebrities that ain BAYCs oregon Cryptopunks NFTs, including owners similar Shaquille O’Neal, Jimmy Fallon, and Gwyneth Paltrow. It’s harmless to accidental that NFTs person mislaid a batch much worth than the good creation immoderate of these celebrities own, arsenic good creation prices person not seen values autumn by 60% to 80% successful 9 months’ time.

What bash you deliberation astir the diminution successful bluish spot NFT values since the commencement of the year? What bash you deliberation astir the NFTs owned by celebrities losing important worth since they were purchased? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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