Logan Paul’s $635,000 NFT collapsed in value to $96.

In late 2021, during the peak of the speculative non-fungible token (NFT) boom, YouTube star and entrepreneur Logan Paul purchased an digital artwork collectible a “Bumblebee” avatar from the OnChainMonkey collection for 139 Ethereum, which was worth approximately $623,000 to $635,000 at the time. As the broader cryptocurrency and NFT markets experienced a dramatic crash over the following years, demand and floor prices for most digital collectibles plummeted. By late 2022 and into subsequent years, the estimated market value of the NFT had dropped by more than 99.9%, falling to under $100 and becoming a widely cited example of the extreme volatility of the crypto market cycle.