In 2021, NFTs were a huge topic, and it seemed like everyone wanted a piece of the pie. Even some celebrities and Twitch streamers were tempted to invest. However, not for everyone did it go well.
What was the trend all about? In 2021, it seemed like no one could avoid NFTs (Non-Fungible Tokens). They are essentially digital collectibles. These can be photos, videos, audio files, or items in a game.
The trend quickly reached the gaming industry. NFTs and the underlying blockchain technology were said to be the next big development in gaming. Several new games were to be based on this technology.
The idea behind it probably falls under the description “too good to be true”. Instead of pouring vast sums into their favorite games, gamers were supposed to be able to earn money while playing. Numerous influencers promoted such “Play to Earn” games or even wanted to bring their own titles to market.
The action MMORPG Warrior relied on NFTs.
NFTs promised quick money
What was the attraction of NFTs? Whether in games or in the form of drawn monkeys: NFTs were presented as a worthwhile investment. For those who missed the chance to buy bitcoins for a little cash back then, NFTs seemed like another opportunity.
Many celebrities and even Twitch streamers jumped on the trend as well. Representing the hype around NFTs, the Bored Ape Yacht Club probably stands out to many. The randomly generated ape JPEGs became coveted collectibles.
The value of the colorful images skyrocketed, creating a kind of community around them. Those with any self-respect changed their profile pictures on social media to show off their newly acquired ape.
Included among this exclusive club was Canadian singer Justin Bieber. But even in the German space, one could see the monkeys everywhere: MontanaBlack received criticism, for instance, when he raffled off an NFT of an ape with a swastika armband.
How much did celebrities lose with their investments?
How did the investments turn out? For Justin Bieber, it likely didn’t go so well. As reported by the US site Dexerto in a tweet, the 29-year-old spent more than $1.3 million last year on the NFT of a monkey with a three-day beard. Now it is only worth $59,000.
The NFT has thus lost 95% of its value.
However, Justin Bieber was not the only celebrity who made a fool of himself: French colleagues from Jeuxvideo compiled a list showing how much stars and celebrities lost with their investments.
- The footballer Neymar supposedly bought two NFTs for €341,850 and €406,350. The loss is estimated at €274,850 and €339,350.
- Tennis ace Serena Williams reportedly paid approximately €327,600 for an NFT, which has reportedly lost around €260,600 in value.
- Rapper Eminem has an estimated loss of €340,385 with an investment of €407,385.
- The controversial YouTuber Logan Paul supposedly spent only €91,800 and estimated to have lost €24,800.
The complete list can be found at Jeuxvideo.
2021 was probably the year when stock speculations reached the mainstream. Many dreamed of making the big money with a smart investment: whether with NFTs, cryptocurrency, or the stocks of the well-known retail chain GameStop:
