Jimmy Fallon Created some really awful television during the NFT craze...
Remember NFTs? For about six months it was all anyone was talking about, it was going to be the next big thing, just like the metaverse.
There was simply no getting away from the craze.
TV, Social Media, KZread, Newspapers, Radio stations and magazines
were all hit with this a barrage of public figures
changing their profile pictures and shilling their own projects.
At the start it was mainly the classics we all know and love.
The big 3 were,
pixel man
Monkey JPEG
and Zombie Monkey JPEG.
These things rose into the stratosphere with countless celebrities
including jimmy from talk show, Justin Bieber, Snoop Dogg, shilling them relentlessly. One of the Jimmys had Paris Hilton on, and the result was one of the weirdest televised moments in years.
The crowd breaks into reluctant applause after Talk show Jimmy
shows them Paris Hilton's very own monkey JPEG. I don't think they really knew how to react. Was it meant to be cool?
A display of wealth? Some kind of achievement?
I still don't know what he was going for either.
I think the part that made it even more funny was Printed off the
Monkey JPEG on a piece of paper, which literally anyone can do.
I'm not getting into the whole ownership thing, because if you
want your very own Jimmy Fallon NFT you can just screenshot it.
Anyway after showing off their 100% definitely not free
Apes, Jimmy opens the floor for Paris Hilton to shill her
ground-breaking new NFT project which is basically a picture of a scrapbook she made. She gives Jimmy one and also gives everyone in the audience one too, which to be honest I highly doubt because most of these people couldn't care less. But listen, everyone's so happy!
So, now that everyone's just about forgotten about this whole
craze which lasted about as long as Liz Truss,
what does the world of NFTs look like today?
Firstly, let's start with pixel man jpegs.
They were worth millions at one point.
They don't get sold or move around very often, but a number of them
have been sold for under 50 eth, or $82,000.
Now that's still a lot, but remember that the floor price
of these things a while ago was over $400,000,
so that still a pretty considerable loss if you were stupid enough
to buy a picture for the same price as a house.
Still, in the whole scheme of things, that's nothing.
If an NFT is worth 20% of what it used to be, you've done well, as you're about to find out.
Okay, onto the next big one.
Monkey Ape crypto image.
They've gone from a peak of $420,000 for the cheapest,
to under 40,000.
Doesn't sound like much of a difference, but being left with 10%
of an investment compared to 20% is still pretty rough.
If you bought one of these at any point after August 2021, you're at a loss now,
and there's no sign of the price coming back up at all.
But still, a mere 90% loss is rookie numbers.
We need to look at the celebrity crypto projects.
There are literally countless ones we could look at,
so let's just focus on the worst ones.
I think one of the most notable yet often overlooked projects is
Eternal Beings. It was an NFT project with 11,111 pictures, and Lil Uzi Vert was meant to be heading it.
In reality I think some developers approached him and he just agreed to attach his name
for money. Almost immediately after he shilled it, he deleted all mentions of it from his social media.
Unsurprisingly, the project died super quick after that.
In fact, after nearly 6000 of them sold for an average price of about 4 sol,
the value of these things immediately tanked.
Now any investor will tell you, the only thing worse than a drop in price is a drop in volume,
and Eternal beings had both.
Not only is the project worthless, but the interest has completely dried up.
On solanart, an NFT marketplace, barely a single one has sold in months,
despite many being listed for pennies.
There are some serious rug pull accusations pointed at both Uzi and the developers,
but it doesn't seem like anyone involved has faced any consequences yet,
with most people forgetting it happened altogether.
But yeah, you can't get much worse than a nearly 100% loss with no one wanting them
even for free.
Alright, here's another one.
It's not just musicians who got their grubby mitts all over NFTs.
How about John Terry? I bet you didn't hear about this one.