When many content makers from the global scene entered the crypto industry last year, NFTs quickly gained popularity.
The YouTuber-turned-boxer paid $623,000 for a specific NFT from the Azuki collection.
In theory, the image's hand-drawn nature ensures that it will be accepted right -
away by the web3 community. However, interest in this area drastically decreased.
Logan Paul stated that the price of NFT had dropped significantly and
that it was now basically worthless as early as July 2022.
Wall Street Silver, a global authority, estimates that the identical NFT that Logan Paul paid over $600,000 for is now only worth $10.
This is only one illustration of the volatility in the cryptocurrency space,
where non-fungible tokens (NFT) are extremely important.
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