What happened to the celebs’ NFTs? Neymar and Eminem are the victims of NFTs Losses In Bear Market

The NFT market fell after the initial hype around it. Celebrities like Neymar Jr., Eminem, Madonna, etc., suffered losses in this space.

The craze around NFTs (non-fungible tokens) is not fading away. In addition to wreaking havoc on cryptos, the year 2022 has also put pressure on NFTs.

Neymar has been significantly affected by NFTs

The world-renowned Brazilian footballer Neymar Jr. is currently suffering from the crypto winter, owing to his NFT investments.

Earlier this year, the soccer star invested nearly $1 million to purchase two Bored Ape Yacht Club (BAYC) NFTs and displayed one as his Twitter profile picture.

Ronaldo’s Bored Apes’ worth was recently reported to be $340,000.

Other famous figures who lost money on NFTs include Eminem, Madonna, DJ Steve Aoki, and Logan Paul, among others.

Eminem has been into NFTs and he also laid his hands on Oscar. In January, he spent around $462,000 on a Bored Ape and now it is valued at around $140,000.

DJ Steve Aoki, a well-known musician, has also been affected by NFTs. In this context, it should be noted that Aoki recently invested about $350,000 in a doodle collection, which is currently worth $50,000 or less.

When discussing celebrities and NFTs, one example of an incident involving a person is the purchase of an Azuki NFT for $623,000 by Logan Paul, which now costs $10.

Are NFTs nothing more than a gimmick?

Many individuals have questioned the long-term viability of these NFTs. The rapid crypto sell-off, growing cyber security concerns, and the possibility of these digital assets to perpetuate fraud are just a few of the reasons. However, only the future can reveal whether these digital assets are worth the investment.