American YouTuber, actor and social media personality Logan Paul has an unrealized loss of $623,000 from his investments in non-fungible tokens (NFTs) that are part of the Azuki collection.
His exchanges with cryptocurrencies have also not been successful. The market crash slashed the valuation of his holdings by more than $500,000.
Significant paper loss of Logan Paul
Popular YouTuber, like many other individuals jumped About the crypto bandwagon last spring when the prices of most assets were skyrocketing. A few months later, he also joined his NFT craze and on such art he spent more than $2.5 million. The pearl he purchased was part of an item in his $623,000 adzuki bean collection.
But the volatility of the cryptocurrency industry and the NFT niche has cost the YouTube star serious financial losses, at least on paper.as a recent pole clearly Azuki NFT is currently trading at $10.
Many Twitter users ridiculed the celebrity for his decision to interact with non-fungible tokens at a time when there was obvious hype in the space. Others argued that digital collectibles were a scam and that people should stay away from them. Some people think that the evaluation will rise if the intervenes.
It’s worth noting that NFT transactions were peaking when he bought the item.At some point last summer, OpenSea’s daily trading volume exceeded $500 million, but here For months it struggled to exceed $10 million.
Apart from NFTs, Paul diversifies his portfolio with Bitcoin and altcoins. Not long ago, he admitted that he had lost about $500,000 on these investments since entering the ecosystem at an all-time high last year.
Unfortunately for many who did the same, the cryptocurrency market has taken a big hit this year, with a total capitalization of less than $1 billion (compared to $3 billion 12 months ago).
KSI is down a million
Another YouTuber hit hard by the crypto market downturn is British rapper JJ Olatunji aka KSI.
In May, Terra’s native token, LUNA, began to crash, and he used the opportunity to speculate that the price would eventually regain its previous highs. KSI allocated $2.8 million in assets when the assets were trading at around $25.
Contrary to his expectations, the token continued its downward trend, effectively collapsing to zero, wiping out the rapper’s millions of investments.
KSI is a strong proponent of the cryptocurrency sector, especially Bitcoin. Last year, he argued that BTC would play an important role in the future monetary system. The rapper went even further, stating that if he were Prime Minister of the UK, he would have given each resident he would have given £100 worth of bitcoin.
KSI sees BTC as a suitable investment tool in the long term. In his view, anyone with some exposure to this asset will be “smiling” in 10 years.
“I feel like a lot of people don’t see that. They’re like, ‘Oh, I want to go in and out.’ I’m here for “
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