From Fine Art to Bored Apes and Punks: Blue Chip NFTs Owned by Celebs Lose Significant Value – Bitcoin News – Bitcoin News

by Jamie Redman
During the week of Jan. 30 to Feb. 5, 2022, the search term “NFT” had a Google Trends (GT) score of 90 and today the GT score has dropped a great deal down to a score of 12. Not only has interest declined, but blue chip non-fungible tokens (NFTs) don’t hold the value they once did at the beginning of 2022. For instance, statistics show the Bored Ape Yacht Club (BAYC) collection’s market valuation based on floor values was worth $2.33 billion on Feb. 3, 2022 — 291 days later and the collection’s market cap is now worth $615 million. Celebrities holding blue chip NFTs like BAYCs and Cryptopunks have seen their NFTs lose a great deal of value over the last nine months.
Popular non-fungible tokens (NFTs) stemming from specific collections like BAYC, Cryptopunks, Clonex, Mutant Ape Yacht Club (MAYC), Azuki, and Moonbirds are still pricey digital collectibles. For instance, the lowest valued Moonbird NFT is around 7 ether or $7,906, while a BAYC NFT will cost 57.50 ether or $63K.
Statistics from show that on Nov. 22, 2022, the Cryptopunks collection held the largest market capitalization of around 619,900 ether. That’s not much less than the Cryptopunks floor capitalization the collection had on Feb. 3, 2022, when it was 650,000 ETH.
However, the price of ethereum per unit on Feb. 3 was approximately 2,667 nominal U.S. dollars per ether. That means while the floor capitalization was worth $1.73 billion nine months ago, today the market cap is down to $685.16 million.
This means the Cryptopunks NFT collection dropped by 60.47% during the last nine months. The same can be said about BAYC’s NFTs as the market cap has dropped from 875,000 ether worth $2.33 billion on Feb. 3, to today’s 556,900 ETH worth $615.53 million.
The data shows during the last nine months, BAYC’s collection dropped by 73.62% against the U.S. dollar. On Jan. 2, 2022, the rap star Eminem purchased BAYC #9055 for 123.45 ether and at the time, it was worth roughly $452K.
Eminem moved his BAYC from the “Shady_Holdings” account he uses on Opensea to the address “0x79f.” estimates show Eminem’s BAYC is only worth 57.96 ETH today or $63,934.
From Fine Art to Bored Apes and Punks: Blue Chip NFTs Owned by Celebs Lose Significant Value
Eminem’s NFT at that estimated value means BAYC #9055 lost 85.85% in value since he first bought the NFT. Pop star Justin Bieber acquired Bored Ape #3001 for 500 ETH which was worth $1.3 million at the time. Today, Bieber’s BAYC NFT is worth less than 60 ETH or roughly $69K.
From Fine Art to Bored Apes and Punks: Blue Chip NFTs Owned by Celebs Lose Significant Value
Socialite Paris Hilton leveraged the company Moonpay to buy Bored Ape #1294 for 119 ether or $317K. At the end of November 2022, Hilton’s BAYC #1294 is only worth $63,783 according to current estimates.
The same can be said for a myriad of celebrities that own BAYCs or Cryptopunks NFTs, including owners like Shaquille O’Neal, Jimmy Fallon, and Gwyneth Paltrow. It’s safe to say that NFTs have lost a lot more value than the fine art some of these celebrities own, as fine art prices have not seen values fall by 60% to 80% in nine months’ time.
What do you think about the decline in blue chip NFT values since the start of the year? What do you think about the NFTs owned by celebrities losing significant value since they were purchased? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Today’s Top Ethereum and Bitcoin Mining Devices Continue to Rake in Profits
As the crypto economy hovers just under $2 trillion in value, application-specific integrated circuit (ASIC) mining devices are making decent profits. While ASIC miners can still mine ethereum, a 1.5 gigahash (GH/s) Ethash mining device can rake in $51.58 per … read more.
Tony Hawk’s Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs … read more.

Check all the news here


Note that any programming tips and code writing requires some knowledge of computer programming. Please, be careful if you do not know what you are doing…

Post expires at 1:57pm on Thursday February 23rd, 2023

Leave a Reply

Next Post

Cyber Due Diligence in M&As Uncovers Threats, Improves Valuations - DARKReading

Wed Nov 23 , 2022
Cybersecurity In-DepthImagine getting ready to spend billions of dollars on an acquisition, only to find out that the target of the acquisition was the victim of multiple cyberattacks affecting billions of accounts. One would think such a scenario would be a huge red flag that no corporate board or general […]
%d bloggers like this: