One of the most infamous NFT investments had been made by the YouTube celebrity Logan Paul. Paul had invested close to $623,000 into the token, which has performed dismally and is now worth less than $10. The NFT was that of the infamous Azuki collection, which was part of a major hype amongst enthusiasts upon its launch. Although technically these colossal losses are still unrealized, due to Paul still holding the tokens, they are unlikely to be reversed, owing to negative sentiment surrounding NFTs.
The legendary English artist and art collector, Damien Hirst burnt hundreds of physical pieces of his artwork, after giving buyers the opportunity to buy either physical or digital forms of his works. The artist stated that he felt great about the move, and claims his immortalized works are far more valuable as NFTs, than they ever would be in the physical realm. The move signals a fundamental milestone that could see art in general undergo a phenomenal transition toward virtual dimensions that is highly unprecedented.
According to a recent report, the creators of the Bored Ape NFTs, Yuga Labs are facing investigation by the Securities and Exchange Commission, in a probe meant to investigate if any federal laws are facing violation. Sources aware of the investigation have further claimed that this is part of a wider move into the NFT market, which could see a number of high-profile players facing large penalties.
NFTs to Watch
Project Kaito
Project Kaito is an exciting NFT collection that has taken the wider market by storm, considering its price gain of over 27,000%. Its volume presently stands at 47 ETH and is likely to undergo a tremendous surge in the upcoming hours.
These 7,777 NFTs are the brainchild of the writer and art director, Michael Chasteen, who has envisioned a P2E platform aimed at empowering creative artists and storytellers. The NFTs come in the anime and manga style and offer a high degree of uniqueness to their holders.
Dodoor NFT
Dodoor NFT is another exciting collection that has been enjoying the market spotlight, climbing in price by nearly 3000% in the last 24 hours. These dodo bird-inspired NFTs position themselves as being a safe haven for all the poached species.
Dodoor offers 1000 NFTs of dodo characters set in a futuristic realm, where they hold the coolest gadgets and are in the most exciting environments. These characters aim for the skies and are hellbent on fulfilling their dream to fly to new heights. These digital art pieces are the talk of the town, with bulls in the market rushing to get their hands on one of these.
Keep up with more weekly NFT stories on Stocks Telegraph.
