How celebrities burned millions in the NFT craze and succesfully marked the TOP

In the midst of massive NFT hype, numerous celebrities „aped“ headfirst into the Bored Ape Yacht Club (BAYC), making it the hottest NFT collection. Back in those days, the prices were soaring, and everyone couldn't get enough of those few pixels displaying monkeys that look like human. It seemed like nothing could slow down the NFT craze. But since then, things took a sharp turn. Prices plummeted significantly, and the once-red-hot NFT market cooled off faster than anyone expected. People don't seem to care as much anymore, and those celebrities found themselves losing big money along the way.

Today's floor price for these JPG's is around 24 ETH (38 000 USD), which is -84% compared to it's ATH of 153 ETH.

Let's take a moment to revisit the financial decisions made by celebrities during the height of the last NFT craze and assess how those decisions have panned out in this collapsed (for now) world of NFTs:

Madonna:

Purchase Date: March 14, 2022

Acquisition Cost: 180 ETH (around $500,000)

Justin Bieber:

Purchase Date: January 29, 2022

Paid 500 ETH which was equivalent to $1,3mil.

Post Malone:

Total Acquisitions: 2 NFTs

Total Cost: Over $700,000

Neymar Jr:

Acquisition Cost: 160 ETH (~$400,000)

Kevin Hart:

Joining Date: January

Acquisition Cost: 79.5 ETH (~$200,000)

Paris Hilton:

Purchase Date: January 2022

Acquisition Cost: 119 ETH (~$275,000)

Eminem:

Purchase Date: Early 2022

Acquisition Cost: 123.45 ETH (> $400,000)

Tom Brady:

Purchase Date: February 2022

Acquisition Cost: 133 ETH (~$430,000)

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So all in all, these „investors“ lost around $3,9mil combined so far...