Justin Bieber, Floyd Mayweather and others wipe out millions as NFT sales drop

It can be said that NFTs took the world of cryptocurrencies by storm. Furthermore, it also saw a massive influx of celebrities trying to make their mark on the NFT game. And there is no doubt that many notable names in the boxing world like Floyd Mayweather Jr. also stepped in to gamble on his popularity. Meanwhile, a recent video gave some insight into the current state of these celebrity NFTs.

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NFT stands for non-fungible tokens. In particular, it is a financial security consisting of digital data stored on a blockchain.

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Youtuber Coffeezilla recently made a video detailing the current status of celebrity-launched NFT projects. Speaking on stage, he said: “It seems like every day a new celebrity announces a new NFT project that you have to buy. They cheer you on, send you to a discord group, and promise you a roadmap, riches, and bitches.”

Additionally, he mentioned that he was curious as to what happens to NFT projects after fans have purchased them. He also stated that he too wanted to see if the fans lost money or made money through the same thing.

Fury Tyson

Two time world heavyweight champion Fury Tyson he tried to cash in on his immense popularity by jumping into the NFT game. In fact, he collaborated with MINGO, which was an ecosystem on the hedera network, to create ‘The Tyson Fury Collection‘.

LONDON, ENGLAND – MARCH 1: Tyson Fury speaks to the media during the Tyson Fury v Dilian Whyte press conference at Wembley Stadium on March 1, 2022 in London, England. (Photo by James Chance/Getty Images)

The series had 16400 NFTs generated uniquely on the hedera network. Additionally, they were in the form of 3D champion artwork conceptualized by MINGO’s in-house artists.

The collection was reported to mint from $330 to $550. However, ‘The Gypsy King’ failed to find considerable success in the NFT game. Only a few hundred of these NFTs were sold, as fans weren’t interested in them.

Floyd Mayweather Jr.

While Fury may not have been successful in the NFT game, the same cannot be said for boxing’s King Midas himself. The crown prince of boxing, Floyd Mayweather Jr. he has had no trouble turning everything he touches into gold.

MIAMI, FL – JUNE 6: Floyd Mayweather meets with the press after the Mayweather vs Paul: Bragging Rights boxing event on June 6, 2021, at Hard Rock Stadium in Miami, Florida. (Photo by Louis Grasse/PxImages/Icon Sportswire via Getty Images)

Mayweather launched his own NFT project titled ‘floyd’s world‘. The series consists of 111,111 tokens programmatically generated from over 250 elements. Additionally, the art for the NFTs was done by illustrator Rui Duarte. Furthermore, it was also reported that the assets are stored as ERC-271 tokens on the Ethereum blockchain.

NFTs were minted at 0.15 ETH each (approximately $276). And the reports also mentioned that NFTs sold well. However, project NFTs are said to currently be selling for less than 1% of their original mintage price.

Mike Tyson

The baddest man on the planet‘ also did not shy away from NFTs. He launched his own project called ‘The Mike Tyson NFT CollectionThe artwork in the project was done by artist Cory Van Lew, with the former champion providing artistic insight.

LAS VEGAS, NV – AUGUST 10: Former boxer and inductee Mike Tyson arrives at the inaugural Nevada Boxing Hall of Fame Induction Gala at the Monte Carlo Resort and Casino on August 10, 2013 in Las Vegas, Nevada . (Photo by Ethan Miller/Getty Images)

In addition, the project is also made up of multiple series. It ranges from ‘The Ultimate Mike Tyson NFT’, which is a 1 of 1 unlockable, to ‘The Baddest Man on the Planet’, which comprises 250 issues.

NFTs were minted at ETH 0.15 to ETH 0.5 (approximately $276 – $925). But, the prices are considerably low at the moment.

jake paul

The entrance of the youtuber turned into a boxer jake paul in the NFT game, it was not a surprise. The Paul brothers have always expressed their eagerness to jump on the cryptocurrency bandwagon.

MIAMI, FLORIDA – JANUARY 30: Jake Paul looks on after defeating AnEsonGib by first round knockout during their fight at Meridian at Island Gardens on January 30, 2020 in Miami, Florida. (Photo by Michael Reaves/Getty Images)

Paul was associated with the ‘League of Holy DevilsNFT project. The project consisted of ‘10,000 Devils’ generated from over 500 assets. The ‘devils’ were said to be present as ERC-721 tokens on the Ethereum blockchain.

However, ‘The Problem Child’ is said to have since dropped out of the project.

steph curry

The NBA world also had a sizable foothold in the NFT landscape. golden state warriors guard point steph curry also launched his NFT project called ‘The 2974 collection‘.

NEW YORK, USA – FEBRUARY 5: Golden State Warriors player Steph Curry seen before the NBA game between the Golden Gate Warriors and the Brooklyn Nets held on February 5, 2020 at Barclays Center of Brooklyn, New York. (Photo by Tayfun Coskun/Anadolu Agency via Getty Images)

In particular, the collection pays homage to Curry’s all-time record for 3-pointers. Another intriguing feature is that each of the artworks, made by Andrea McDonald, was created using the number 2974. Meanwhile, it was also reported that all proceeds would be used for charity.

The initial minting price for NFTs was $500, but prices have come down significantly in recent times.

Justin Bieber

Aside from the sports world, there were many other celebrities who launched their NFT collections. Singer Justin Bieber also jumped into the NFT crusade with the ‘inBetweeners’ project.

The project is a collaboration between Bieber and Gianpiero D’Alessandro. Most notably, D’Alessandro is an in-house artist on Bieber’s ‘Drew House.’ The NFT collection comprises 10,777 hand-drawn characters on the Ethereum blockchain. Furthermore, Bieber has stated that the main idea behind the project is to spread positivity both in real life and in the metaverse.

NFTs have an initial minting price of 0.27 ETH (approximately $500). However, current sales prices on this project are approximately 30% lower. But it’s worth noting that it’s not considered a drastic drop in the NFT world.

kevin hart

Comedian Kevin Hart had a pretty intriguing take on his recent NFT project, ‘Hart’s Confessions‘. In fact, the series is part of the NFT project and part of the ROKU animated series.

November 8, 2021; Los Angeles, California, United States; Actor and comedian Kevin Hart with his son Hendrix in attendance as the Los Angeles Lakers play the Charlotte Hornets during the second half at Staples Center. Mandatory Credit: Gary A. Vasquez-USA TODAY Sports

The project consisted of a 30-minute animated anthology based on his IGTV series of the same name. He also had 10,000 NFTs showing Hart’s alter egos. The initial minting price was 0.05 ETH (approximately 92 USD). But, prices dropped 50% in a month.

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In particular, the series’ poor animation is said to be one of the main reasons for the project’s downfall.

While celebrities try to promote elaborate roadmaps for their projects. It is worth noting that very few projects have survived their initial enthusiasm.

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