What is the current value of Logan Paul’s $623,000 NFT?

Leading American YouTuber Logan Paul made headlines last year after paying $623,000 for Azuki’s “Bumblebee” NFT. The 10,000 hand-drawn avatars in the Azuki NFT collections, which stand out from other digital art in a striking way, are considered a cherished asset.

While NFTs were in their peak in 2021, the market has suffered a dramatic fall in 2022. Between May and August 2022, the trade volume on the top NFT marketplace OpenSea decreased by 99%. As a result, the price of Logan Paul’s Azuki Bumblebee NFT has significantly decreased since last year.

How Much is Logan Paul’s Bumblebee NFT Worth Now?

Wall Street Silver, a market analyst, gave the first warning that the price of Logan Paul’s Azuki “Bumblebee” NFT was about to plunge dramatically. On Thursday, he tweeted that Paul’s $623,000 Bumblebee NFT is now only worth $10 to his 312,000 followers. “This NFT, which is now worth $10, cost Logan Paul $623,000 to purchase. Draw your own conclusions, he said on Twitter.

Paul did, however, partially acknowledge that his Bumblebee NFT is “worth essentially nothing” in July, prior to Wall Street Silver’s tweet.

The well-known YouTuber stated, “I paid $623,000 on an NFT a year ago. It’s almost worthless right now. In 99 Originals, I have a helmet and clothing that are an identical duplicate of this error that I made.

A little exploration of OpenSea reveals that Logan Paul’s Azuki “Bumblebee” NFT is currently only worth $2,671. The price of the Bumblebee NFT has dropped significantly and is now worth 2 ETH for price bidding.

Paul paid 188 ETH, or $623,000, for the Bumblebee NFT on August 24, 2021.

The development demonstrates that the markets are firmly in bearish control and that the NFT hoopla is dissipating. The Metaverse is also having issues because, according to a study provided by Delphi Digital, trade volume for the Metaverse decreased by 98%.

“A series of positive statements from businesses like Meta, Grayscale, and Citibank in the fourth quarter of last year served as the catalyst for the ‘Metaverse’ to gain traction. Trading volume for virtual land has decreased by as much as 98% from its high in 2021, according to Delphi Digital.

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