A famous youtuber bought an NFT worth US$623,000 and now it costs US$10

admin

Logan Paul is an infamous name on the internet, especially when it comes to YouTube. As well as being controversial as a content creator, mediocre boxer and controversial figure, Paul also invests in cryptocurrencies Y NFTbut you are not always successful with your investment, turning $600,000 into just $10 dollars.

The youtuber got involved with digital assets in 2021, when the second wave of positivism took place regarding Bitcoin, which a few months later would reach its record price. At the time, Paul posted to his millions of followers that he was excited about cryptocurrencies.

Cryptocurrencies are fucking exciting

One of Paul’s big bets were the NFT, but the bet ended up failing. Paul ended up spending more than $2.5 million in different collections of non-fungible tokens. The great jewel among his purchases was an item from the collection Azukiwhich he acquired for a whopping $623,000.

The problem is that the Azuki ecosystem, and consequently all the NFTs in the collection, have lost their price considerably. This made the Youtuber regret it, since for his NFT he paid $623k and now it is worth just over $10.

Paul entered the NFT market when the industry was at its height in both popularity and value, but the hype didn’t last long, and the industry crashed within a few months, as evidenced by the Azuki collection.

Logan Paul also lost money with cryptocurrencies

In addition to NFTs, Paul diversified his portfolio with Bitcoin and different altcoins. Not a long time ago, admitted having lost about $500,000 on these investments, acknowledging that he invested at a not-so-opportune time, right during the peak of prices.

Unfortunately for many who have done the same, the cryptocurrency market has plunged a lot this year and its total capitalization is less than $1 trillion, compared to $3 trillion 12 months ago. Anyone who has been following the price of Bitcoin knows how the last few months have been.

However, Paul is not only someone who gets laughed at for his bad investment, but he has also been accused multiple times of cryptocurrency scams, which influences his followers to support projects where he would make a profit if there was a bomb.

Rate this news!

0 / 5 Number of votes: 1

Your vote in this news:

Click to rate this post!
[Total: 0 Average: 0]
Next Post

Waiting time to get electricity per hour after customer rush

When tens of thousands of households have switched to hourly price agreements, there are signs that more people are consuming electricity at cheaper times of the day. However, the rush has meant that the electricity grid companies find it difficult to keep up and thus live up to the electricity […]
Alpcot has decided to carry out a private placement of approximately SEK 35 million

Subscribe US Now