Logan Paul is a man of many talents. He is a professional WWE wrestler, a professional boxer, a successful YouTuber, and a businessman. Although PRIME Hydration has become a worldwide sensation, there have been a few ventures from Logan that were utter failures. One such venture was his cryptocurrency game, “CryptoZoo.” But that is not the only bad investment that Paul made, as one of his famous NFTs seems to have lost all its value.
Well. Just dropped 188 Eth ($623,000) on this 1/1 Bumblebee @0n1Force. Probably nothing pic.twitter.com/AikVh6Mky0
— Logan Paul (@LoganPaul) August 23, 2021
In August 2021, Logan took to Twitter and announced that he purchased a Bumblebee NFT from On1 Force. At the time, the value of cryptocurrency was really high and Paul spent 188 Eth (Ethereum) coins. The amount in USD, according to Logan, added up to $623,000. However, in November 2021, Coffeezilla, who is an investigative journalist, revealed something incredibly shocking! He revealed that the NFT’s worth plummeted to $4,486.
Logan Paul paid $623,000 for this NFT that’s now worth $10 ……
— Wall Street Silver (@WallStreetSilv) September 28, 2022
Draw your own conclusions … pic.twitter.com/VCbLVRwpt0
According to Coffeezilla, Logan Paul took a 99% hit on the purchase. However. that was in 2021. So fans may ask, what is the value of the said NFT in 2023? According to a report from Wall Street Silver in September 2022, Paul’s Bumblebee NFT was worth only $10!
Logan Paul may not necessarily view the NFT as an investment and may only consider it as a part of his collectibles. But from a business perspective, it does look like Paul has lost all his investment money.
Logan Paul was fooled into buying fake Pokemon cards worth $3.5 million
If Logan Paul’s decision to buy the Pokemon cards is any indication, Paul is extremely fond of collecting art. In December 2021, Logan Paul spent 3.5 million on buying a collection of first-generation Pokemon cards. Pokemon is an extremely popular amine and has a fanbase around the world. Hence, the Pokemon trading cards are worth an absolute fortune. Hence, Paul’s decision to spend $3.5 million was not thought of as a bad investment.
However, after the purchase, Logan received a lot of messages urging the cards to be examined. Hence, after unboxing and further examination, it turned out that the cards were fake and the collections were filled with G.I. Joe trading cards. In a video, on his YouTube channel, Paul expressed his disappointment on the matter.
He added, “I’m a super positive person, bro – and I’ll always be the one to look on the bright side and I’m trying but this is very hard. It’s just so sad for all parties involved, it’s sad for the Pokémon community – like how many fraudulent things are out there? I’m grateful for the things that I have that are real now, I’m picturing my Charizard in my head…something real, something worth a lot of money that is real. Damn bro, I just went from eleven first edition boxes to five. We got f***ed, end of story.” (h/t via nintendolife)
However, thankfully for him, the person who sold the collection to Logan Paul, returned him the money. Did it stop Logan from investing further in trading cards? Not exactly as he went on to buy the most expensive Pokemon card in history, worth $5.275 million. He bought a PSA Grade 10 Pikachu Illustrator card. He was not afraid to show it off either. During his WrestleMania 38 entrance, Logan wore it with a chain around his neck.
.@LoganPaul wearing the most expensive @Pokemon card in the world right now at #WrestleMania! 🤑🤑🤑 pic.twitter.com/ZnCTZD8ln9
— WWE (@WWE) April 3, 2022
What are your thoughts on Logan Paul’s NFT collections and investments? Let us know in the comments down below.