A-list stars who bought million-dollar NFTs four years ago are now experiencing localized losses.

From 2021 to 2022, it was a period when many famous stars were “crazy” about investing in NFTs, spending huge amounts of money to own digital collections. Neymar, Eminem, Justin Bieber, and many other international celebrities spent millions of USD on these digital artworks. Now, four years later, those decisions have left behind painful financial scars.

Neymar and Favorite Bored Ape Yacht Club Collectors

Neymar Jr is one of the first to jump on the NFT wave, especially with the Bored Ape Yacht Club collection. The Brazilian football star spent $569,531 to acquire BAYC#5269 in January 2022. Currently, this piece is only valued at $121,992, resulting in a loss of $447,539.

Neymar didn’t stop at just one ape. He also invested in BAYC #6633 at a cost of $480,359, but it is now only valued at $88,742 – another loss of $391,617. The Mutant Ape Yacht Club #10953 he bought in April 2022 for $170,639 is now worth only $25,007.

As of now, Neymar has spent $1,220,529 on three high-end NFTs, but their total value is only $235,741. The huge loss amounts to $984,788. However, notably, he owns 63 other NFTs on Opensea, showing that Neymar is not just “following the trend” but is truly serious about the NFT space.

Eminem – the legendary American rapper – also took a similar path. He bought BAYC#9055 on New Year’s Eve 2021 for $453,776, but it is now only worth $88,746. The $365,030 loss can be seen as a “learning fee” for being overly confident in the market.

Snoop Dogg is a different case. In December 2021, he imported a batch of NFTs worth $366,324, with BAYC #6723 shining as a highlight. Unlike others, Snoop Dogg is not just a collector but also a creator, currently owning about 3,100 NFTs on Opensea and participating in other blockchain projects.

Madonna, another pop music goddess, also faced a setback. In March 2022, she spent $466,461 on BAYC #4988, but its current value is only $88,896, a loss of $377,565. Her collection includes 29 pieces, including NFTs from the World of Women project.

CryptoPunk: The Oldest NFT and Major “Big Investment” Cases

If Bored Ape is the “king of monkeys,” then CryptoPunk is the “founder” of the NFT world. But these pixel characters have caused many to spend money without understanding why.

Justin Bieber is the biggest “player” in the CryptoPunk collection. The young singer paid a shocking $1,301,550 for BAYC#3001. Now, that NFT is only valued at $86,613, meaning he lost $1,214,937. Fortunately, Justin’s musical talent allows him to “swallow” this loss. His NFT portfolio on Opensea currently contains nearly 1,900 pieces.

Serena Williams, tennis legend, bought CryptoPunk #2950 in June 2021 for $177,123. Today, this NFT is hard to value on the market, but if she exchanged it for 85 ETH she spent, it would be worth about $102,876 – a loss of $74,247.

Entrepreneur Gary Vaynerchuk is a true NFT whale. He spent $3,953,216 (1,600 ETH) on CryptoPunk #2140 – a staggering amount. If he still held that ETH today, it would be worth $1,934,367, resulting in a loss of nearly $2 million. However, with a net worth of $200 million, he can “play” like this. Evidence is that he owns 6,800 NFTs on Opensea.

Logan Paul – the YouTube celebrity – faced the most tragic case. He paid $667,000 for Bumble Bee in December 2021, but it is now only worth $2,000. Losing $665,000 is a big blow, although Logan still owns 5 other CryptoPunks, including CryptoPunk #2294 bought for $163,003 (110 ETH) in February 2021. He has publicly stated he will hold onto these NFTs long-term.

Lessons from NFT Investments During the Boom

Paris Hilton is an exception. She bought BAYC #1294 in January 2022 for $287,055, but it is now only worth $86,653. However, thanks to her long-term experience in the cryptocurrency field, she has created nearly 26,000 NFTs and owns 1,500 in her Opensea collection – a much better strategy.

The NFT market has gone through a typical cycle: a hot boom in 2021-2022, followed by a crash, and now gradually recovering. The question is: will the NFTs that celebrities bought ever return to their original prices? Probably not, but the NFT market still has growth potential.

The truth is, celebrities spending huge amounts on NFTs do not care about losses. With their income levels, these losses are just “costs” of exploring new technology. Moreover, owning rare NFTs is also a symbol of status and influence. And who knows – in the next bull run, these stars’ NFT works could increase significantly in value, creating opportunities for smart investors to seize.