A deep dive into his Web3 life

When NFT mania peaked last year, Logan Paul was one of the earliest celebrities to jump headfirst into the scene. The YouTuber and boxer not only invested in a number of blue-chip NFTs, but went on to release his own NFT collection and marketplace. Unfortunately, his NFT portfolio took a hit, as was the case with many celebrities and their NFT investments.

To give one example, the ‘Bumblebee’ 0n1Force NFT Paul bought for a whopping $623,000 in 2021 was reportedly worth just $10 late last month. At the time of writing, however, NFT was worth around $10,000, according to DappRadar estimates. To be sure, several other celebrities, including Steve Aoki, saw their portfolio values ​​plummet. The main reason for this fall is the crypto winter, which dragged the NFT market with it.

Meanwhile, what happened to Logan Paul’s NFT collection and his marketplace? How much is his NFT portfolio worth now? We will answer all these questions and more in this article.

Logan Paul’s NFT Journey: The Early Days

First and foremost, Logan Paul is an avid Pokémon card collector – a habit he started in August 2020, thanks to Gary Vaynerchuk. Later, it was Gary again who got him into the NFT room.

“I spent half a million dollars on CryptoPunks because Gary Vee called me and told me it was going to be the next Facebook,” Paul told Forbes in an interview in 2021.

In December 2021, Logan Paul revealed that he spent a whopping $2.645 million in 2021 on 139 NFTs from 16 collections. One of the first NFTs he bought was from the World of Women NFT collection. While one of them cost him around $160,000, another was worth around $170,000. Also, last August he spent $155,000 on two rock NFTs.

To be sure, Paul’s initial NFT investments came at a time when some of these assets were selling for millions of dollars, if not more. Actually according to reportstotal NFT sales amounted to $25 billion by 2021. In short, Paul did what all NFT enthusiasts with money did: spend hundreds of thousands on seemingly positive NFTs in the hope of significant returns.

In the midst of this, starting his own NFT collection was the natural next step for the YouTuber – entering CryptoZoo.

CryptoZoo: About Logan Paul NFT

As a Pokémon fan, Logan Paul had long wanted to see a “Pokémon fusion game” in action. This desire, combined with his interest in NFTs, led to the founding of CryptoZoo. Essentially, this is a blockchain game where players can collect, breed and sell NFT eggs.

While the first collection dropped (and immediately sold out) on September 3, 2021, his fans were disappointed. Transactions failed, many lost large sums in gas taxes, and the coin was full of bots.

Well, this was just the beginning. Shortly after launch, NFT detective Coffeezilla revealed that the artwork for the animals in the game were edited Photoshop stock images. In addition, some of the investors lost seven-figure sums and were not reimbursed. Long story short, the project failed, with many, including NFT influencer ZachXBT calling it a straw move.

Early this year, however, Paul claimed in a interview that he was new to the room and got “involved with the wrong people who made some mistakes and blunders.” Apparently the project was set to move forward with a “great team” while Paul focused on his new project – 99 Originals.

What are Logan Paul’s 99 Originals?

Cut to April 2022, Logan Paul launched 99 originals, a new NFT collection and DAO. In a nutshell, the collection contains 99 photos he took over 99 days through a Polaroid while traveling 84,029 miles around the globe. In short, the exclusive collection includes only 99 one-of-a-kind NFTs. For this reason, every NFT holder gets to enjoy a number of benefits, including an original, genuine copy of the polaroid. They also get access to 99 Originals DAO and voting rights.

In particular, some benefits are NFT-specific. For example, the holder of NFT #8 gets a CryptoPunk #6762 chain after holding it for 99 consecutive days. On the other hand, the #16 holder can choose the color of the boxer’s robe and shorts for the next fight. They can even go with Paul to his next match!

How much is Logan Paul’s NFT worth?

Paul auctioned one NFT daily that Originals, with each auction lasting 24 hours. Despite Paul’s past history with NFTs and the crypto market crash, his 99 Originals did surprisingly well. For example, #14 42 Bored Ape fetched around $104,000 at the time. #1, meanwhile, sold for around $58,000. In late May, #76 Life and Death went for $60,000.

While 49% of the sale proceeds went to Paul, 50% was sent to the treasury for the holders to use as they pleased. To be sure, The DAO was created to purchase digital assets, fund members’ creative projects, provide access to events, and support independent artists, to name a few. The final 1% of the funds were awarded to Logan Paul’s Pokémon NFT holders.

The first phase of the project ended on September 21, and Logan pledged to use the funds for various charities. To be sure, that was the last update from Original’s official Twitter account. So how is the collection performing now? In accordance OpenSea analysisthe collection’s floor fell in September, going as low as 15.29 ETH on October 17. However, there was a sudden spike, followed by a steep drop the following week, and the floor was back at 32 ETH at the time of writing.

For now, we are uncertain whether Paul kept his many promises. It is also uncertain how the project will work in the coming weeks and months. One thing is for sure though – 99 Originals did extremely well under the circumstances. Paul apparently made the right decision by dropping a limited edition collection that his fans loved. But how it performs in the future remains to be seen.

Liquid Marketplace by Logan Paul

Around the same time Logan Paul dropped 99 Originals, he also announced his new marketplace for fractional NFT art: Floating marketplace. The idea is to fractionalize assets, so that anyone can own exclusive physical and digital collectibles. On the platform, anyone can buy, sell and trade high-value digital collectibles.

So how does the platform work? First, it authenticates and approves collectibles on the platform. It then stores the assets in a secure, physical vault. Finally, the tokens associated with the assets are listed for sale on Liquid for $0.10 USD per token. Once the assets are sold out, the platform moves them to the “marketplace” where users can buy, sell and trade tokens.

Some of the best collectibles traded on the platform include CryptoPunks, rare Pokémon trading cards, and Pokémon Box. In fact, Paul flipped in July the world’s most expensive Pokemon card into an NFT and tokenized it on the Liquid market. He reportedly paid around $5.3 million for the PSA 10 card.

Logan Paul’s NFT Portfolio: What’s in His Wallet Today?

While Logan Paul’s 99 Originals and Liquid markets are weathering the storm, the value of his NFT portfolio has fallen significantly. While he spent over $2.5 million on NFTs last year, today he has NFT portfolio is worth just over $1 million. In fact, in May Paul admitted that he lost $500,000 in the crypto crash. He was also warned by the consumer watchdog group, Truth in Advertising, about shilling NFTs.

Today, in Paul’s wallet, the three most expensive NFTs are all CryptoPunks. Their current market prices range from $443,000 to $133,000, at the time of writing. Some of the other top NFT collections in his portfolio include 99 Originals, VeeFriends, Otherdeeds and Tom Sachs’ Rocket Factory.

That said, it’s important to note DappRadar has a controversial history of overvaluation of NFTs. As there is currently no standard for valuing NFTs, it is difficult to determine exactly what Logan Paul’s NFT portfolio is worth today. On the other hand, earlier this month, Nansen estimated the wallet’s value at around $515,000.