Jake Paul's $10 Million NFT Failing to Attract Bidders

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Sun, 04/11/2021 - 07:32
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American YouTuber and professional boxer Jake Paul is selling his brutal knock-out of former NBA star Nate Robinson as a non-fungible token for an eye-popping $10 million on the newly launched platform Triller.

Despite NFTs being all the rage, with some NBA Top Shot collectibles and CryptoPunks fetching six-figure or even seven-figure price tags, Paul is so far failing to attract deep-pocketed buyers.

The highest bid for the internet personality’s NFT is currently sitting at a modest $10,455.

The bidding window will be closed on April 17 when Paul is going to have his much-anticipated fight with former MMA champion and vocal Bitcoin proponent Ben Askren.   

Paul made his debut in professional boxing against fellow YouTuber AnEsonGib in January 2020.

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NFT hype is dying down

So far, there is still a whole week for someone to shell out $10 million for Paul’s NFT, but the 24-year-old celebrity might be late to the party.

The average price of an NFT is down over 70 percent from its peak in February.

Mike Winkelmann, a digital artist known as “Beeple” who supercharged the craze with his $69 million sale at Christie’s, acknowledged that NFTs could be in a bubble:

I absolutely think it’s a bubble, to be quite honest. I go back to the analogy of the beginning of the internet. There was a bubble. And the bubble burst.