During the week of January 30 to February 5, 2022, the search term “NFT” had a Google Trends (GT) score of 90, but today the GT score has dropped significantly to 12. Interest rates have fallen, but good non-fungible tokens (NFTs) do not hold their value in early 2022. $2.33 billion on February 3, 2022 — 291 days later, the collection’s market cap is now worth $615 million. A celebrity holding a blue chip NFT, such as BAYC or Cryptopunks, has seen his NFT lose a significant amount of value over the past nine months.
Market capitalization of high-end chip NFTs has fallen sharply since the beginning of the year
Popular non-fungible tokens (NFTs) derived from specific collections such as BAYC, Cryptopunks, Clonex, Mutant Ape Yacht Club (MAYC), Azuki, and Moonbirds remain expensive digital collections. For example, the lowest priced Moonbird NFT is around 7 Ether or $7,906, while the BAYC NFT is priced at 57.50 Ether or $63K.
statistics According to nftpricefloor.com, on November 22, 2022, the Cryptopunks collection held the largest market capitalization of around 619,900 Ether. This is the same capitalization of the Cryptopunks floor that the collection had on February 3, 2022. 650,000ETH.
However, the price per unit of Ethereum on February 3 was around US$2,667 per Ether. So nine months ago his lowest market cap was $1.73 billion, but now his market cap is down to $685.16 million.
This means that the Cryptopunks NFT collection has decreased by 60.47% over the past nine months. The same can be said for BAYC’s NFTs. That’s because the market cap has fallen from 875,000 Ether, worth $2.33 billion on his February 3rd, to 556,900 Ether today. ethereum Worth $615.53 million.
NFTs Owned by the Rich and Famous Lost Huge Value in Nine Months
Data show that BAYC’s collection has fallen 73.62% against the US dollar over the past nine months. Eminem the rap star Jan 2, 2022 purchased BAYC #9055 was worth 123.45 Ether and was worth around $452,000 at the time.
Eminem’s NFT at that estimate means BAYC #9055 has lost 85.85% of its value since he first bought the NFT.Idol Justin Bieber Earn Bored Ape #3001 with 500 ethereum It was valued at $1.3 million at the time.Today Bieber’s His BAYC NFT Is Worth His Less Than 60 ethereum Or about $69,000.
Socialite Paris Hilton I bought Bored Ape #1294 for 119 Ether or $317K using Moonpay. According to current estimates, as of the end of November 2022, Hilton’s BAYC #1294 is worth just $63,783.
The same goes for the countless celebrities who own BAYC and Cryptopunks NFTs. Shaquille O’NealJimmy Fallon, Gwyneth PaltrowIt’s safe to say that NFTs have lost a lot more value than the art pieces owned by some of these celebrities.
What are your thoughts on the drop in quality NFT values since the beginning of the year? How do you feel about celebrity-owned NFTs losing a lot of value since they were bought? Please let us know what you think.
image credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. This is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com It is not intended to provide investment, tax, legal or accounting advice. NEITHER THE COMPANY NOR THE AUTHOR WILL BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY DAMAGE OR LOSS ARISING OR ALLEGED TO OCCUR ARISING OUT OF OR RELATING TO YOUR USE OF OR RELIANCE ON ANY CONTENT, PRODUCTS OR SERVICES DESCRIBED IN THIS ARTICLE. We are not responsible.