- The $7 million collector token has lost almost 100% of its value.
- The highest bid for it is $108.
- Demand for NFTs from other collections has also decreased.
On December 9, 2021, collector Cozomo de’ Medici purchased the “Right-click and Save As guy” NFT for 1,600 ETH at a price of approximately $4,400 per 1 ETH. The purchase cost him around $7 million.
Almost two years later, he complained about the lack of demand. Its NFT, previously worth $7 million, is trading on the SuperRare marketplace for 0.069 ETH (around $108 at the time of writing).
Cases where expensive NFTs lose almost 100% of their value are not that rare. For example, Twitter creator Jack Dorsey’s first tweet was sold as an NFT for $2.9 million. Now, the highest bid for it is 2 ETH or approximately $3,140.
Recently, BAYC collection token #8585 was sold at a loss for 153 ETH (around $240,000). The previous owner bought it a year ago for 777 ETH ($1.22 million).
Recall that at the end of August 2023, the NFT turnover in one week fell to a two-year low. The well-known collections of BAYC, DeGods and Azuki lost more than 25% of their value.
