NFTs are non-fungible tokens that are bought and sold using cryptocurrency. They are unique digital assets that can be used to represent anything from art to music to in-game items.
NFTs have been around for a few years but exploded in popularity last year. This was largely due to the entry of Youtube content creators into the market. The most notable of these was American Social Media personality Logan Paul.
NFTs are non-fungible tokens that are bought and sold using cryptocurrency. They are unique digital assets that can be used to represent anything from art to music to in-game items.
NFTs have many advantages over traditional assets. They are digital, so they can be stored and transferred easily. They are also global, so anyone can buy or sell them. And because they are built on blockchain technology, they are secure and transparent.
The YouTuber-turned-boxer purchased an NFT for $623,000 from the Azuki collection. The crypto market and the NFT niche in particular is going through a massive downturn causing many assets to plunge in value.
In July 2022, Logan Paul admitted that the price of his NFT had fallen sharply, confirming that it’s basically worthless. According to The Wall Street Silver Twitter account the Azuki Collection NFT Logan Paul bought is now only worth $10. This is another example of a case where crypto assets can lose their value very quickly and abruptly.
Which NFT is Worth $623000 ?
The fall of major cryptocurrencies like Bitcoin and Ethereum in 2022 has really played a major stake in the collapse of a lot of NFT projects. For example, the popular NFT marketplace, Rarible, has seen a drastic decrease in the number of daily transactions. In just a span of a few months, the NFT market has gone from being worth over $250 million to less than $50 million.
This is a direct result of the fall in the prices of major cryptocurrencies. With the current state of the crypto market, it is very unlikely that the NFT market will recover any time soon
Outside of NFTs, Logan Paul has recently launched his own drink company called PRIME Hydration. The drink is a zero calorie, zero sugar energy drink that comes in four different flavors: Original, Blue Raspberry, Fruit Punch, and Mango. The drink is designed to give you a long-lasting energy boost without the crash that comes with other energy drinks.
Logan Paul says that he created the drink because he was tired of not being able to find a healthy energy drink that he actually enjoyed drinking. He wanted to create a drink that would be not only healthy, but also tasty. So far, the response to PRIME Hydration has been very positive. People are loving the taste of the drink and the fact that it doesn’t give them the jitters or the crash that other energy drinks do. If you’re looking for a healthy energy drink that actually tastes good, be sure to check out PRIME Hydration.
NEWS BY – CETOEX NEWS