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NFTs exploded in popularity last year, especially when Youtube content creators entered the market.
The most notable was American Social Media personality Logan Paul.
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YouTuber-turned-boxer purchased an NFT for $623,000 from the Azuki collection.
After The crypto market and the NFT niche in particular is going through a massive downturn causing many assets to plunge in value.
Read an in-depth analysis of the topic here
Logan Paul saw his NFT’s value plummet
In July 2022, Logan Paul admitted that the price of his NFT had fallen sharply, confirming that it’s basically worthless.
According to The Wall Street Silver Twitter account the Azuki Collection NFT Logan Paul bought is now only worth $10
This is another example of a case where crypto assets can lose their value very quickly and abruptly.
The fall of major cryptocurrencies like Bitcoin and Ethereum in 2022 has really played a major stake in the collapse of a lot of NFT projects.
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