Qasim Mughal
Logan Paul’s NFT Azuki “Bumblebee” non-fungible token (NFT) has seen a sharp decline in value when he first obtained it in 2021. Logan Paul is a well-known American YouTuber.
The price of the NFT has since decreased to $10, according to the NFT market. The markets for silver and gold were also discussed by him.
The 10,000 hand-drawn profile photo avatars in the Azuki collection ensure that buyers will have access to airdrops, a Discord community, and a closed Web3 community.
Paul disclosed that the price of the NFT had dropped to “nearly nothing” on July 13, 2022, and that he was now offering a duplicate of the NFT as part of a brand-new collection of goods called 99 Originals.
The value of Logan’s Open Sea collection, which includes NFTs from CryptoPunks, World of Women, and Azuki, had significantly declined as of the time of publication.
In the heyday of 2021, which saw the popularity of collections like Bored Ape Yacht Club soar, Paul held an NFT auction using Forj, a company geared at the broad usage of Web3 and NFT software.
Each of the 3,000 NFTs had a price of 1 ETH.
The influencer then produced NFTs depicting the unboxings of his Pokemon card collection, which were quickly snapped up.
Paul said in December 2021 that of the $2.645 million he had spent on NFTs in 2021, the Azuki NFT had cost him the most, at $2.645 million.
According to OpenSea, he currently owns 4500 NFTs.
NFT trade volume has dropped 97% from $17 billion in January 2022 to $466 million in September 2022 as a result of the collapse of the larger crypto markets this year and investors’ desire to get rid of speculative assets like NFTs.
Despite a bleak macro picture, once the Ethereum Merge was complete in mid-September 2022, there was a little increase in Ethereum NFT sales. Sales of the popular Bored Ape Yacht Club line rose by 187% within 24 hours of the merger. Owners of Bored Apes include Chain CEO Deepak Thapliyal and actor Seth Green.
Despite the fact that CryptoPunks sales went below $100 million for the sixth straight month, another popular collection.
