Fun

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

News Feed - 2022-11-23 02:11:18

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


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. Blue Chip NFT Market Caps Slide Significantly Lower Since the Start of the Year


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 nftpricefloor.com on Tuesday, Nov. 22, 2022.


Statistics from nftpricefloor.com 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. NFTs Owned by the Rich and Famous Lost Massive Amounts of Value in 9 Months


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.” Dappradar.com estimates show Eminem’s BAYC is only worth 57.96 ETH today or $63,934.



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.



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. Tags in this story Apes, BAYC, BAYC NFTs, Blue-Chip NFTS, Bored Ape Yacht Club, Bored Apes, Celebrities, Celebs, cryptopunks, Cryptopunks NFTs, Eminem, Gwyneth Paltrow, Jimmy Fallon, Justin Bieber, nft, NFT collections, nftpricefloor.com, NFTs, Paris Hilton, Punks, Shaquille O’Neal, Stats


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


Jamie Redman is the News Lead at Bitcoin.com 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 Bitcoin.com News about the disruptive protocols emerging today. Coinbase CEO Says Company Holds 2 Million Bitcoin, Reminds People Firm’s ‘Financials Are Public’ NEWS | 1 hour ago Onchain Research Shows FTX’s Falling BTC, ETH, Stablecoin Balances ‘Suggest Cracks Had Formed as Far Back as June’ NEWS | 5 hours ago


Image Credits: Shutterstock, Pixabay, Wiki Commons Previous articleBiggest Movers: LTC up 12%, Hitting a 3-Week High Next articleHuobi Global Rebrands as Huobi, Introduces New Strategy 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. Bitcoin.com 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. Read disclaimerShow comments More Popular NewsIn Case You Missed ItRipple CEO: SEC Lawsuit Over XRP "Has Gone Exceedingly Well"


The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.Tony Hawk"s Latest NFTs to Come With Signed Physical Skateboards Fidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand" Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Interest in Real Estate Investments in Spain Grew 400%, With Some Using Crypto and Stocks as Payment Method

News Feed

Bitcoin, Ethereum Technical Analysis: ETH Back Below $2,000, BTC Down 6% to Start the Weekend
Bitcoin, Ethereum Technical Analysis: ETH Back Below $2,000, BTC Down 6% to Start the Weekend Following a strong rebound on Friday, crypto prices moved back into the red today, wit
BTC price clings to $62K as Bitcoin bulls suffer post-halving ‘boredom’
William Suberg28 minutes agoBTC price clings to $62K as Bitcoin bulls suffer post-halving ‘boredom’Bitcoin may be preparing for trend continuation, but on short timeframes, BTC price behavior is inspiring no one.274
Bitcoin History: When DDoS Attacks Made BTC’s Price Drop
Bitcoin History: When DDoS Attacks Made BTC’s Price Drop As anyone who has read the Bitcoin History series (or lived through the period in question) will know, the Bitcointalk
Bitcoin Hashrate Hits Another Milestone, Network’s Mining Difficulty Taps 13-Year High
Bitcoin Hashrate Hits Another Milestone, Network"s Mining Difficulty Taps 13-Year High The processing power backing the Bitcoin network has continued its upward momentum tapping an
Amazon-backed Anthropic brings Claude AI chatbot to European users
Savannah Fortis13 hours agoAmazon-backed Anthropic brings Claude AI chatbot to European usersAmazon and Google-backed AI startup Anthropic launches its powerful Claude chatbot in Europe, boasting strong language skills a
David Attlee3 hours agoSBF jailed, FTX partners under attack: Law DecodedSam Bankman-Fried, the former CEO of the failed FTX crypto exchange, will be held in jail through the end of his two upcoming trials.1036 Total vie
Orange Domains aims to expand Bitcoin Name System functionality
Zoltan Vardai8 hours agoOrange Domains aims to expand Bitcoin Name System functionalityOrange Domains seeks to expand the use cases of BNS domains while creating more interconnectivity with traditional DNS-based domains.
Vanuatu expects to pass long-awaited crypto bill in September
Felix Ng2 hours agoVanuatu expects to pass long-awaited crypto bill in SeptemberA Vanuatu policy consultant tells Cointelegraph the bill had been ready for a few years but had been delayed due to several cabinet changes.
Amaka Nwaokocha14 hours agoHouse Republicans urge tighter export controls on advanced chipsThe letter follows the unveiling of Huawei Technologies’ Mate 60 Pro smartphone, which incorporated advanced chips manufactured
BOJ ex-board member says another rate hike unlikely this year
Tom Mitchelhill7 hours agoBOJ ex-board member says another rate hike unlikely this yearThe Bank of Japan is unlikely to raise interest rates again for the rest of the year, but it’ll be a "toss up" whether th
Another Mysterious String of 1,000 ‘Satoshi Era’ Bitcoins Mined in 2010 Moved Today
Another Mysterious String of 1,000 "Satoshi Era" Bitcoins Mined in 2010 Moved Today On November 7 at around 12:37 a.m. (EST), another string of so-called ‘
Altseason Loading? Analyst Explains How FTX $5B Distribution May Trigger The Next Bull Leg
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu