When the NFT craze hit its peak final 12 months, Logan Paul was one of many earliest celebrities to leap headlong into the scene. The YouTuber and boxer not solely invested in a variety of blue-chip NFTs however went on to launch his personal NFT assortment and a market. Sadly, his NFT portfolio took a success, as was the case with many celebrities and their NFT investments.
To provide one instance, the ‘Bumblebee’ 0n1Force NFT Paul purchased for a whopping $623,000 in 2021 was reportedly price solely $10 late final month. On the time of writing, nevertheless, the NFT was price round $10,000, based on DappRadar estimations. To make sure, a number of different celebrities, together with Steve Aoki, noticed their portfolio values plummet. The first purpose for this fall is the crypto winter, which dragged the NFT market with it.
Within the meantime, what occurred to Logan Paul’s NFT assortment and his market? How a lot is his NFT portfolio price now? We’ll reply all these questions and extra on this article.
Logan Paul’s NFT journey: The preliminary days
At the start, Logan Paul is an avid Pokémon card collector—a behavior he started in August 2020, because of Gary Vaynerchuk. Later, it was Gary once more who prompted him to get into the NFT house.
“I spent half one million {dollars} on CryptoPunks as a result of Gary Vee known as me and advised me that it could be the following Fb,” Paul advised Forbes in a 2021 interview.
In December 2021, Logan Paul revealed that he spent a whopping $2.645 million in 2021 on 139 NFTs from 16 collections. One of many first NFTs he purchased was from the World of Girls NFT assortment. Whereas one among them price him round $160,000, one other was price about $170,000. What’s extra, in August final 12 months, he additionally spent $155,000 on two rock NFTs.
To make sure, Paul’s preliminary NFT investments got here at a time a few of these property had been promoting for thousands and thousands of {dollars}, if no more. In reality, based on reports, total NFT gross sales amounted to $25 billion in 2021. Briefly, Paul was doing what each NFT fanatic with cash was doing: spend lots of of 1000’s on seemingly constructive NFTs hoping for substantial returns.
Amid this, beginning his personal NFT assortment was the pure subsequent step for the YouTuber—enter CryptoZoo.
CryptoZoo: About Logan Paul NFT
As a Pokémon fan, Logan Paul had lengthy wished to see a “Pokémon fusion sport” in motion. This want, mixed along with his curiosity in NFTs, led to the founding of CryptoZoo. Primarily, this can be a blockchain sport the place gamers may acquire, breed, and promote NFT eggs.
Whereas the preliminary assortment dropped (and immediately bought out) on September 3, 2021, his followers had been disillusioned. Transactions failed, many misplaced hefty sums in gasoline charges, and the mint was rife with bots.
Effectively, this was just the start. Quickly after launch, NFT detective Coffeezilla revealed that the paintings for the animals within the sport was edited Photoshop inventory pictures. Additional, a few of the buyers misplaced seven-figure sums and weren’t reimbursed. Lengthy story quick, the undertaking failed, with many, together with NFT influencer, ZachXBT calling it a rug pull.
Early this 12 months, nevertheless, Paul claimed in an interview that he was new to the house and received “concerned with the flawed individuals who made some errors and blunders.” Apparently, the undertaking was set to maneuver forwards with a “nice staff”, whereas Paul centered on his new undertaking—99 Originals.
What’s Logan Paul’s 99 Originals?
Reduce to April 2022, Logan Paul launched 99 Originals, a brand new NFT assortment and DAO. In a nutshell, the gathering options 99 images he took over 99 days by means of a Polaroid whereas travelling 84,029 miles throughout the globe. Briefly, the unique assortment contains simply 99 one-of-one NFTs. For that reason, every NFT holder will get to take pleasure in a variety of advantages, together with an unique, real-life copy of the polaroid. Additionally they get entry to the 99 Originals DAO and voting rights.
Notably, some perks are NFT-specific. For example, the holder of NFT #8 will get a CryptoPunk #6762 necklace after holding it for 99 consecutive days. However, #16 holder can choose the color of the boxer’s Gown and Shorts for the following struggle. They will even stroll with Paul to his subsequent struggle!
How a lot is Logan Paul’s NFT price?
Paul auctioned one NFT every day on Originals, with every public sale working for twenty-four hours. Regardless of Paul’s earlier historical past with NFTs and the crypto market crash, his 99 Originals did surprisingly properly. For instance, #14 42 Bored Ape fetched round $104,000 on the time. #1, in the meantime, bought for about $58,000. Late in Might, #76 Life and Demise went for $60,000.
Whereas 49% of the gross sales proceeds went to Paul, 50% was despatched to the treasury for holders to spend as they please. To make sure, the DAO was set as much as purchase digital property, fund members’ inventive initiatives, present entry to occasions, and help unbiased artists, to call just a few. The final 1% of funds was allotted to Logan Paul’s Pokémon NFT holders.
The primary part of the undertaking ended on September 21, with Logan promising to deploy the funds for numerous charities. To make sure, that was the final replace from Originals’ official Twitter account. So, how is the gathering performing now? In response to OpenSea analytics, the gathering’s ground fell in September, taking place as little as 15.29 ETH on October 17. Nonetheless, there was a sudden spike, adopted by a steep fall the next week, with the ground remaining 32 ETH on the time of writing.
As of now, we’re uncertain if Paul delivered on his many guarantees. It’s also unsure how the undertaking will perform within the coming weeks and months. Nonetheless, one factor is for sure—99 Originals did extraordinarily properly beneath the circumstances. Paul seemingly made the appropriate choice by dropping a restricted assortment that his followers liked. However the way it performs sooner or later stays to be seen.
Liquid Market by Logan Paul
Across the identical time Logan Paul dropped 99 Originals, he additionally introduced his new market for fractionalized NFT artwork: Liquid Market. The concept is to fractionalise asset possession in order that anybody may co-own unique bodily and digital collectibles. On the platform, anybody should purchase, promote, and commerce high-value digital collectibles.
So, how precisely does the platform work? Firstly, it authenticates and approves collectibles on the platform. It then shops the property in a safe, bodily vault. Lastly, the tokens linked to the property are listed on the market on Liquid for $0.10 USD per token. As soon as the property are bought out, the platform strikes them to the ‘market’ the place customers should purchase, promote, and commerce the tokens.
A number of the high collectibles buying and selling on the platform embrace CryptoPunks, uncommon Pokémon buying and selling playing cards, and Pokémon Field. In reality, in July, Paul turned the world’s costliest Pokémon card into an NFT and tokenised it on the Liquid market. Reportedly, he paid round $5.3 million for the PSA 10 card.
Logan Paul’s NFT portfolio: What’s in his pockets at present?
Whereas Logan Paul’s 99 Originals and Liquid market is braving the storm, the worth of his NFT portfolio has considerably fallen. Whereas he spent over $2.5 million on NFTs final 12 months, at present, his NFT portfolio is just price somewhat over $1 million. In reality, in Might, Paul admitted he misplaced $500,000 within the crypto crash. He was additionally warned by the buyer watchdog group, Fact in Promoting, for shilling NFTs.
As we speak, in Paul’s pockets, the highest three costliest NFTs are all CryptoPunks. Their present market costs vary from $443,000 to $133,000, on the time of writing. A number of the different high NFT collections in his portfolio embrace 99 Originals, VeeFriends, Otherdeeds, and Tom Sachs Rocket Manufacturing unit.
Having mentioned that, it’s vital to notice that DappRadar has a controversial history of overvaluing NFTs. As there’s presently no commonplace to worth NFTs, it’s troublesome to determine what precisely Logan Paul’s NFT portfolio is price at present. However, early this month, Nansen estimated the pockets’s worth to be about $515,000.