From Justin Bieber to Serena Willams, celebrities lost tens of thousands investing in NFTs.
The past 12 months saw the rise and fall of Non-Fungible Tokens (NFTs), a flash-in-the-pan cryptocurrency trend that allowed artists to trade the ownership of their digital works.
In basic terms, an NFT is a digital file – typically art – that uses the blockchain to ascribe ownership to its creator.
You can read a full explainer on what an NFT is here.
Like any other investment, the value of an NFT can increase or decrease in price depending on market demand.
A number of celebrities jumped onto the NFT trend at the peak of the market, with a number recording huge losses.
Legally Blonde star Resse Witherspoon lost the smallest amount out of the bunch.
She bought this World of Women #8072 NFT in October 2021 for $AUD 13,413.
Today it's worth $AUD 3092.
Witherspoon's NFT dropped $AUD 10,321 in value.
Basketball superstar turned-actor Shaquille O'Neal purchased Creature #9018 in September 2021 for $AUD 20,000.
The NFT is currently listed on Crypto trading platform OpenSea for $AUD660.
If Shaq was to sell his NFT today, he would lose $AUD 19,340 – which is probably why he still owns it.
Serena Williams' husband, Alexis Ohanian purchased CryptoPunk #2950 for Williams in June 2021 for $AUD 261,336.
In cryptocurrency, The NFT is worth 85 ETH.
The NFT is not currently listed for sale, but at the current ETH market price, the NFT is worth $AUD 159,105 today.
If Williams sold her NFT, she would be at a $102,231 loss.
The famous rapper bought his NFT, Bored Ape Yacht Club (BAYC) #9055, for a huge $AUD 674,749.
Today, the digital artwork of a blinged-out ape is worth $AUD 118,957.
The rapper transferred the NFT to another investor on OpenSea, but if he sold it today, he would be at a whopping $AUD 555,796 loss.
Pop Icon Madonna also jumped onto the cryptocurrency trend.
She purchased this BAYC NFT #4988 for $AUD 694,443.
Today, the NFT is listed on Crypto platform OpenSea for $AUD 122,077.
Once the singer decides to part ways with the NFT, she'll be at a $AUD 500,000 loss.
When the Brazilian soccer player isn't kicking goals, he's getting in on the NF Trend.
Neymar Jr bought the BAYC NFT #5269 for a giant $AUD 847,889 in January 2022.
Today, the NFT is listed on OpenSea for $AUD 171,495.
The soccer icon's NFT has dropped $AUD 676,394 in value since the start of the year.
YouTube star Logan Paul has been open with his followers about his NFT failure, but just how much did he lose?
The content creator bought Azuki's NFT Bumble bee for $AUD 982,520 in December 2021.
The NFT is currently worth $AUD 3244. At the lowest point in the market, the token was worth a mere $AUD 14.
At the NFT's current market value, Logan Paul lost a total of $AUD 926,343.
Internationally renowned DJ Marshmellow got in on the NFT Trend in October 2021.
He bought KajuKing #1680 for an estimated $AUD 1.4 million.
A little over a year later, his NFT is listed on OpenSea for a tiny $AUD 2137.
The stark difference between the two is an incomprehensible $AUD 1.4 million.
Pop heartthrob Justin Bieber joined the NFT Trend relatively late in the game purchasing BAYC #3001 in January this year for a whopping $AUD 1.9 million.
Eleven months later the same NFT is currently valued at $AUD 131,000.
Making the singer's loss an enormous $AUD 1.7 million.
Entrepreneur, author and public speaker Gary Vaynerchuk – known as Gary Vee – invested in CryptoPunk NFTs, purchasing #2140 for an unbelievable $AUD 5.9 million.
Today, CryptoPunk #2140 is listed on OpenSea for $AUD 2.9 million.
The $AUD 3 million difference makes this the biggest loss on our list.
