Logan Paul, Bieber, Neymar see steep NFT losses as market reprices

Logan Paul, Justin Bieber, Neymar, Madonna and others sit on deep NFT losses as the 2021 celebrity hype cycle gives way to a utility-focused market reset.

Multiple celebrities who purchased non-fungible tokens during the 2021 market peak have experienced substantial losses as NFT valuations declined, according to public blockchain data and marketplace estimates.

Logan Paul purchased a 0N1 Force NFT that has since declined sharply in value, according to blockchain records. Justin Bieber acquired Bored Ape #3001, now estimated to be worth significantly less than its purchase price. Soccer player Neymar bought two Bored Ape NFTs whose combined value has fallen substantially from original acquisition costs.

Madonna purchased a Bored Ape NFT now valued at a fraction of its purchase price, while basketball player Stephen Curry bought a Bored Ape currently trading at lower valuations, according to marketplace data. Rapper Eminem acquired a Bored Ape that has similarly declined in value. Television host Jimmy Fallon purchased a Bored Ape now valued below its peak price.

NFT prices surged in 2021 amid celebrity endorsements and increased speculative demand, according to market analysts. Floor prices across major collections reached elevated valuations during the period. As cryptocurrency market liquidity tightened in 2022 and 2023, NFT markets experienced a prolonged contraction, with many collections losing substantial portions of their peak value.

Bored Ape Yacht Club, previously considered a leading NFT collection, saw floor prices fall from peak levels to lower ranges in subsequent market cycles, according to marketplace tracking data.

Celebrity purchases during the 2021 period occurred near market peaks, reflecting late-cycle momentum, according to blockchain transaction records. The price declines follow patterns observed in previous speculative market cycles.

Despite the decline in collectible NFT pricing, activity continues in gaming assets, digital identity, ticketing and brand engagement applications, according to industry reports. The market has shifted from luxury collectible pricing toward utility-driven models, analysts stated.

The 2021 NFT market cycle followed a pattern of cultural adoption, celebrity participation, speculative activity and subsequent price decline, according to market observers. Digital ownership concepts continue to develop in gaming, media and tokenized identity applications, industry participants reported.