The hype of the non-fungible token (NFT) market slowed down considerably in 2022, but that didn’t stop a host of famous and wealthy personalities from skewering the space with terrible combinations last year.
In our 2022 edition of The Worst Influencers and Celebrities to Have Hung Up NFT Money, Cointelegraph takes a look at four projects that seem designed to extract capital from the pockets of their fans, while offering very little.
Tai Lopez – OG (Original Garage) Social Club
First on the list is quirky entrepreneur Ty Lopez, who is known for his vulgar marketing campaigns that used to plague YouTube not too long ago.
Lopez’s most famous video is his “Here in my garage” business cycle promo from 2015 in which he first shows off his Lambo before switching gears and remarks that he is more proud of the thousands of books he owns because of the “knowledge” they give him.
In celebration of the video, Lopez launched a collection dubbed “OG (Original Garage) Social Club” in March.
The NFTs came in three tiers of rarity, ranging from $150 on the lower end to $50,000 for tokens that offered exclusive benefits like a game of basketball with Lopez, watching a movie, having dinner together and private counseling sessions.
Current data on OpenSea now paints a bleak picture, with the floor price of all NFTs regardless of rarity, standing at 0.08 Ether (ETH) or $97 at the time of writing.
Looking at premium NFTs, a basketball-related token is on sale for as low as 0.880 ETH ($1,069), while an NFT that grants access to a one-on-one dinner with Lopez is on sale for 1 ETH ($1,214) though It first sold for about $30,000.
Donald Trump – Trump Digital Trading Cards
Despite being a historically outspoken hater of cryptocurrency, former President Donald Trump announced an odd licensed NFT project in December consisting of 45,000 self-trading cards.
The shoddy artwork that was likely stolen from the NFTs depicted Trump in various guises such as a superhero, hunter, cowboy, and golfer. The NFTs offered buyers the chance to win a set of one-on-one experiences with the 45th Chief via lottery.
Trump Digital Trading Card NFTs: OpenSea
NFTs initially selling for $99 apiece quickly sold out on December 16th with the floor price quickly rising to 0.83 ETH ($1008 USD) on OpenSea within two days. Since then, the price has dropped significantly to 0.164 ETH ($199).
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While people who buy for the first time are more likely to stay in the green, the Trump NFT project is doing well either way as it garnered about $4.5 million in initial sales, with an ongoing 10% creator fee also returning through secondary sales. . markets.
Floyd Mayweather Jr – Mayweather
Boxing icon Floyd Mayweather Jr. Also makes the 2022 list for the NFT project that appears to be completely abandoned at the time of writing.
In a March 22 tweet, Mayweather announced a “Mayweverse” that consists of 5,000 NFT holdings.
“If you are in the NFT world and bet on me, you will never lose,” he said.
The NFTs initially went for roughly $900 on April 13, giving traders the chance to win cash prizes ranging from $5,000 to $30,000 and exclusive experiences like joining Mayweather in an upcoming Metaverse called “Club Floyd.”
Since the coinage, the Mayweverse Twitter account has been dormant with not a single follow-up tweet throughout 2022. It’s unclear if anyone has received prizes or when the Metaverse will ship.
The site’s roadmap is also still undated although other “future features” were initially announced to be announced soon.
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OpenSea’s data also makes it hard to be sure of what’s going on with the project.
The Maywevere collection listed on the marketplace contains 73 tokens that are not for sale with no price history. Another contains five NFTs which finally all sold for less than 0.050 ETH encapsulated ($60) but have a minimum price of 0.1 ETH ($121).