$1.2 Million Wiped from Justins Biebers NFT

0


This year Justin Bieber lost $1.2 Million from a single NFT. The singer is not the only one to lose out. Do you remember 2021? The bitcoin bull run was in full swing and the NFT community was finally getting the attention it deserved… and then the market went too far.

Without a doubt, NFTs are an innovative, game-changing, and downright disruptive technology. They’re fundamental to the development of web 3.0 and have almost limitless potential within VR and the Metaverse. The technology was (and still is) in its infancy, but in 2021 greed took prevalence above all else.

For those that could afford it, NFTs turned into a status symbol. They signify impressive wealth, and the Bored Ape Yacht Club was the gold standard. Justin isn’t the only big fish to lose out on the Crypto Winter. Logan Paul paid a hefty $623,000 for his prized Azuki, which is now said to be worth just $10.

It’s possible these NFTs will bounce back one day. Nevertheless, investing in hype can be a dangerous thing.

Learn more >> The Ultimate NFT Guide

Want more? Connect with NFT Plazas

Join the Weekly Newsletter
Join our Discord
Follow us on Twitter
Like us on Facebook
Follow us on Instagram

*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.

 





Source link

Leave A Reply

Your email address will not be published.