YouTube sensation Logan Paul is often known for his antics and for going out of bounds to create content for his audience.
However, when it comes to diversifying, Logan certainly knows how to do it. From starting out as a Vine creator, shifting to daily YouTube vlogs, then to boxing, Hollywood, his own podcast, and then the list goes on.
While he has done fairly well for himself as a content creator what sets him apart is his interest and investments in NFTs. What adds to his love for NFTs is the fact that he launched his own NFTs early in 2021.
Let’s look at a few instances that show his love for NFTs and his reasons to buy NFTs.
5 Instances of Logan Paul’s Love For NFTs
Buying NFTs Worth $780,000
Logan Paul has a number of NFTs under his belt.
However, adding to his NFT wall is the fact that he bought NFTs worth $780,000 along with his ‘Impaulsive’ podcast co-host in August this year. Logan revealed in a tweet that his new purchase is worth a whopping $623,000. The NFT he bought was an artwork of Bumblebee from the Transformers movie series.
Logan shelled 188 Ethereum coins for this artwork. Meanwhile Mike Majlak, his ‘Impaulsive’ podcast co-host also bought the artwork from the same entity @0n1Force worth 38 Ethereum coins, approximately $125,000.
The NFT bought by Mike is 1 of 9 made by the creator Foodmasku.
Pokemon Box Break Worth $5 Million
In the spring of 2021, Logan Paul decided to dive right into the NFT party by auctioning off 36 card packs.
The NFTs showcased Logan Paul as an anime character, holding trading cards in his hands. He also inserted the Maverick (his personal clothing brand) logo on the NFT art itself.
For the auction of these card packs, Logan collaborated with a company called Bondly, which is a peer to peer (P2P) exchange that allows trading across any chain, and through any medium, It is primarily an Ethereum based NFT marketplace.
He dropped a set of 3,000 NFTs on February 19, selling each one of them at 1 ETH, with Ethereum trading at $2,000 at that time. On the first day of the launch itself, around 1,722 NFTs were purchased, totaling $3.5 million at the time in sales.
According to venture capitalist Tiffany Zhong, Logan Paul sold NFTs sold $1 million worth of NFTs within 30 minutes. Further, the sales climbed to around $ 5 million with a total of 2,586 NFTs sold.
To increase the demand again, a contest was run wHere three buyers received a 1st edition pack of Pokemon cards, valued at $ 40,000, and a free trip to Los Angeles to attend a Livestream of a Pokemon card unboxing session held on February 27th.
Buying Pixelated Rock NFTs For $155,000
Logan Paul made yet another NFT headline when he bought two NFTs, associated with two pixelated images of rocks. The two images are a part of the We Like The Rocks project, which has 100 unique pixelated images of rocks which are listed for thousands of dollars.
However, what added fuel to the headlines was the fact that this buy from Logan Paul, didn’t sit well with another NFT project on the same limes, called Ether Rocks. He tweeted about the two projects to clear some air around the two distinct projects.
“The first rock NFT on Ethereum @weliketherocks; actually came before the Ether rock,”. I know it’s ridiculous but it’s digital history and I think they’re pretty cool.” This is what Logan tweeted for the two projects competing for attention on the internet.
This competition between the two projects led to a debate on Twitter, with people on the one end claiming that Logan Paul got “scammed” as he bought the rocks from the We Like The Rocks project, instead of Ether Rocks. However, it still remains a mystery, whether Logan Paul did get scammed or did he go for an original ‘rock’.
But, whatever the answer be, he has certainly placed himself well in the entire crypto and NFT community, being the focus of attention.
Buying Bored Ape Yacht Club NFTs
Logan made yet another headline when he bought Bored Ape Yacht Club NFT, which is considered to be one of the most popular and most expensive NFTs around.
He purchased two Bored Apes, which are among the 215 NFTs to have DTM fur. Paul made the transaction using 34 Wrapped Ethereum (WETH) for the Ape coded #1442 and 33 ETH for the Ape coded #207.
The two Ape NFTs bought by Logan Paul rank #3954 (Ape #1442) and #5501 (Ape #207) for rarity, as the apes are ranked on the basis of their traits and their rarity amongst the other ape NFT artworks from the same artist.
Many tend to call the Ape NFTs the “holy grail of NFTs” due to their value, rarity, and returns on investments.
Losing More Than Half A Million Dollars
His love for NFTs didn’t turn out well when Logan ended up losing more than $500,000 in an NFT he had invested.
The Bumblebee NFT, the one mentioned in Point #1, didn’t fare well as it dropped by more than 99% in November this year. Logan had invested around $623,000 in the NFT, which dropped to $4,000, as of November 6th, 2021.
What made the entire scenario even worse was the fact that the NFT was supposed to double in profits, as per an article mentioning the news. However, that didn’t deter his love for NFTs, as he continues to make headlines in the space around his recent buys.
Logan Paul & NFTs
With celebrities and personalities like Logan Paul investing heavily into NFTs, the ecosystem has gotten some of the biggest industry names vouching for them.
As more and more celebrities end up launching their own NFT collection, the NFT space is certainly going to heat up. However, what the investors might be careful about is to not do FOMO-investing.
As more celebrities join the field, the prices and the floors are going to rise. Invest safely.