NFTs; like crypto currency, are a part of the punk rock economy. Punk rock is annoying, loud, in your face, and volatile. And no one… and I mean no one… wants to listen to John Cena’s punk band. So it was no surprise when John Xina’s NFT was a complete failure. Just because you are a celebrity doesn’t mean people want to buy your NFT. Celebrities can’t just print money out of thin air, that’s not what NFTs are. Now if Cena was smart he would have taken that meme we linked above and made it an NFT, or take his pathetic apology to China that he was lambasted over and turn THAT cringe moment into an NFT… l would buy that for a few thousand.
The sad truth here is that these NFTs are sold, and the people who buy them are their fans. To be fair; A celebrity like Johnny Depp could blow his nose and sell the snotty hanky to fans who would eagerly buy it. But would that fan be able to resell the booger tissue? That is the issue with celebrity NFTs, it doesn’t seem like they have any serious resale value.
An article from the star wrote truthfully that “Long-time NFT investors are mostly staying out of the celeb NFTs market”
We recommend the same IF you have any desire to resell your NFT… Don’t buy celebrity NFTs unless you want to keep them forever, or sell them at a depreciated value.