Logan Paul NFT drops to near zero as liquidity fades

Logan Paul’s Azuki ‘Bumblebee’: Bought for $635,000, now $155

In 2021, YouTuber Logan Paul purchased a 1/1 Azuki NFT nicknamed “Bumblebee” for roughly 188 ETH, equating to the mid-$600,000s at the time, as reported by BuyNFT.com (https://buynft.com/news/logan-paul-nft-sees-huge-value-loss/?utmsource=openai). By late 2022, the piece had fallen toward near-zero pricing, with coverage placing it at about $10, as reported by Cointelegraph (https://cointelegraph.com/news/nifty-news-logan-paul-s-nft-sees-small-jump-in-value-after-600k-loss-paramount-ford-and-other-big-brands-make-notable-nft-trademark-filings-and-more?utmsource=openai).

This trajectory underscores the fragility of price discovery for one-of-one NFTs in thin markets. The episode also highlights how short-lived hype cycles can overwhelm fundamentals when secondary-market demand is sparse.

Why it matters: extreme illiquidity, hype-cycle risk, valuation uncertainty

Pricing singular NFTs differs from using a collection’s floor-price comps. Based on data from DappRadar (https://dappradar.com), portfolio estimates often rely on historical sales, rarity traits, and algorithmic matching, methods that can materially under- or overstate a unique asset’s realizable value when bids are scarce.

The valuation collapse also converged with broader scrutiny of execution in Paul-linked Web3 ventures such as CryptoZoo; several investigations chronicled missed deliverables and eroded confidence. TechCrunch characterized CryptoZoo as a “total mess,” underscoring how marketing without shipped utility can translate into lasting reputational and valuation damage (https://techcrunch.com/2023/01/06/youtuber-logan-pauls-cryptozoo-nft-project-is-a-total-mess/?utm_source=openai).

For investors assessing celebrity-associated NFTs, the cause-and-effect is straightforward but easy to overlook: extreme illiquidity magnifies downside when attention fades, and valuation tools carry wide uncertainty bands for 1/1 assets. These conditions do not imply outcomes for other collections but indicate that realized sale prices can diverge sharply from model estimates when the next buyer is absent.

Price path: ~188 ETH in 2021 to today’s estimate

Following a six-figure purchase in 2021, coverage placed the piece near $10 by late 2022, as reported by Cointelegraph. At the time of this writing, widely circulated estimates now peg it around $155, as highlighted by WatcherGuru on X (https://x.com/WatcherGuru/status/2023137145796591953).

As contextual background on broader crypto-linked risk appetite, Yahoo Finance shows Coinbase Global (COIN) rallying after an expanded $2 billion buyback despite a reported Q4 net loss of $666.7 million, illustrating how narratives and liquidity can shift abruptly across the ecosystem (https://finance.yahoo.com/).