{"id":1029438,"date":"2021-11-18T21:14:11","date_gmt":"2021-11-19T02:14:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1029438"},"modified":"2021-11-18T21:14:16","modified_gmt":"2021-11-19T02:14:16","slug":"celebrity-nft-projects-from-grimes-and-pro-china-john-cena-have-been-a-catastrophic-failure","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/celebrity-nft-projects-from-grimes-and-pro-china-john-cena-have-been-a-catastrophic-failure\/","title":{"rendered":"Celebrity NFT Projects from Grimes and Pro-China John Cena Have Been a \u2018Catastrophic Failure\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcelebrity-nft-projects-from-grimes-and-pro-china-john-cena-have-been-a-catastrophic-failure%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1029438&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p class=\"subheading\">In recent months, many celebrities have attempted to cash in on the recent NFT craze, but for some, it has turned out to be less than profitable. Pro-China actor and wrestler John Cena described an NFT project he was involved in as a \u201ccatastrophic failure.\u201d<\/p>\n<p>Bloomberg <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-15\/nfts-by-celebrities-like-grimes-john-cena-and-a-ap-rocky-fall-in-value\">reports<\/a>&nbsp;that many celebrities have attempted to profit off the recent craze of non-fungible tokens (NFTs), with many selling their art, music, or various other pieces of content as digital collector items. But while some have seen huge profits from digital tokens, many have lost money.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>Bloomberg notes that singer Grimes \u2013 real name Claire Elise Boucher \u2013 successfully sold a collection of NFTs for $5.8 million in February. But while the cost to buy one of the 303 NFTs in the collection was initially around $7,500, some recently traded for as little as $1,200, an 84 percent drop in value.<\/p>\n<div id=\"attachment_17862754\" class=\"wp-caption alignnone\" readability=\"37\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/grimes3.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-17862754\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/grimes3.jpg\" alt width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">PHILADELPHIA, PA \u2013 AUGUST 31: Singer Claire Boucher of Grimes and American Eagle Outfitters Celebrate the Budweiser Made in America Music Festival on August 31, 2014 in Philadelphia, Pennsylvania. (Photo by Astrid Stawiarz\/Getty Images for American Eagle)<\/p>\n<\/div>\n<div id=\"attachment_11795377\" class=\"wp-caption alignnone\" readability=\"37\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/johncenagetty1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-11795377\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/johncenagetty1.jpg\" alt=\"John Cena\" width=\"640\" height=\"480\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">LONDON, ENGLAND \u2013 DECEMBER 05: John Cena attends a special screening of Paramount Pictures\u2019 film \u2018Bumblebee\u2019 at Cineworld Leicester Square on December 5, 2018 in London, United Kingdom. (Photo by John Phillips\/Getty Images for Paramount Pictures)<\/p>\n<\/div>\n<p>Gauthier Zuppinger, &nbsp;the chief operating officer of NonFungible, commented on the trend of celebrities losing money on NFTs stating:&nbsp;\u201cFrom what we\u2019ve seen so far, most of these collections don\u2019t have much liquidity, which is one of the two ways for NFT collections to die: lose value or get frozen. It\u2019s probably too soon to draw any conclusion for now, but it looks like these were more experiments than truly valuable collections.\u201d<\/p>\n<p>WhaleShark, one of the world\u2019s largest NFT collectors, commented:&nbsp;\u201cThere are some that are done tastefully i.e. Paris Hilton\u2019s drop with Nifty Gateway, and there are some with poor design, poor launch partners and poor execution. The latter tend to come across as money grabs, rather than a true leveraging of one\u2019s fan base to drive NFT mainstream adoption.\u201d<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>Pro-Chinese Communist actor and wrestler John Cena recently commented on the failure of his NFT sale, stating:&nbsp;\u201cMyself and the folks in the WWE thought $1,000 was a fair price point: We were wrong. We were absolutely wrong. I\u2019m like, man, with a value like that, the 500 of them will be gone. We sold 37 of them. It was a catastrophic failure.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\" readability=\"3.8201438848921\">\n<p lang=\"en\" dir=\"ltr\">The next <a href=\"https:\/\/twitter.com\/JohnCena?ref_src=twsrc%5Etfw\">@JohnCena<\/a> NFT drop is live RIGHT NOW on <a href=\"https:\/\/t.co\/6vCaEYoL9I\">https:\/\/t.co\/6vCaEYoL9I<\/a>! <a href=\"https:\/\/twitter.com\/bitski?ref_src=twsrc%5Etfw\">@bitski<\/a> <a href=\"https:\/\/t.co\/XGCQ0aWnCo\">pic.twitter.com\/XGCQ0aWnCo<\/a><\/p>\n<p>\u2014 WWE (@WWE) <a href=\"https:\/\/twitter.com\/WWE\/status\/1429285471704735748?ref_src=twsrc%5Etfw\">August 22, 2021<\/a><\/p>\n<\/blockquote>\n<p>Director Quentin Tarantino recently listed uncut scenes from his film&nbsp;<em>Pulp Fiction<\/em> as NFTs on the OpenSea market, but has yet to find any buyers.<\/p>\n<p>Read more at <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2021-11-15\/nfts-by-celebrities-like-grimes-john-cena-and-a-ap-rocky-fall-in-value\">Bloomberg here.<\/a><\/p>\n<p><strong><i>Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter&nbsp;<\/i><i><a class=\"x5l\" href=\"https:\/\/twitter.com\/lucasnolan\" target=\"_blank\" rel=\"noopener external\">@LucasNolan<\/a>&nbsp;<\/i><i>or contact via secure email at the address&nbsp;<a class=\"x5l\" href=\"https:\/\/www.breitbart.com\/cdn-cgi\/l\/email-protection#6408110705170a0b08050a2414160b100b0a09050d084a070b09\" target=\"_blank\" rel=\"noopener external\"><span class=\"__cf_email__\" data-cfemail=\"4f233a2c2e3c2120232e210f3f3d203b2021222e2623612c2022\">[email&nbsp;protected]<\/span><\/a><\/i><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In recent months, many celebrities have attempted to cash in on the recent NFT craze, but for some, it has turned out to be less than profitable. Pro-China actor and &#8230;<\/p>\n","protected":false},"author":28,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1029438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1029438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1029438"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1029438\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1029438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1029438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1029438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}