LOGAN Paul may be busy with YouTube and boxing, but he also has a lucrative side job worth millions.
The 27-year-old social media star is estimated to have one of the most valuable NFT portfolios.
Celebs have jumped on the NFT bandwagon as the latest insane digital craze akin to cryptocurrencies.
An NFT – or non-fungible token – offers something different as it digitizes a work such as art or music and turns it into a non-fungible token that is stored on the blockchain.
Once you purchase an NFT, it becomes your own work of art and cannot be replicated.
Logan ranks fourth among celebs around the world with a $4.85million/£3.95million stash, according to the NFT Club.
Only three others fare better – Snoop Dogg, Gary Vee and Mark Cuban.
But the controversial YouTuber is second in terms of the number of NFTs he owns at just under 2,500.
He and entrepreneur Gary Vee, 46, are the only two big names with more than 2,000 to their tally.
Logan’s haul includes VeeFriends, the most popular NFT investment adored by celebs, who have pledged $68.59million/£55.83million.
It was created by Gary Vee, so it’s no surprise that he owns 1,000+ VeeFriends NFTs and ranks highest overall.
Logan is also a CryptoPunks owner and revealed last year that someone offered him a whopping $700,000 for his favourite.
What is an NFT?
Here’s a simple guide…
- NFTs are a hot new tradable item taking the internet by storm
- The letters NFT stand for “non-fungible token”
- When something is “fungible,” it can be exchanged for an identical counterpart
- For example, bitcoin is technically fungible – you can swap one for the other and have the same thing
- Physical cash is also fungible – you could exchange one £10 note for another
- An NFT is a total unique digital token with no copies
- Like Bitcoin and other cryptocurrencies, NFTs work on a blockchain
- A blockchain is a public record of transactions recorded across the internet – and is completely immutable
- The NFTs on the blockchain can be traded like bitcoin, but they are inherently unique
- This gives them a special value, because each NFT is individual and unique
- You can convert almost any type of data into an NFT
- People are selling digital artworks, songs and even tweets in NFT form
- More sophisticated NFT sales include virtual sneakers/sneakers and even a virtual house
- Importantly, NFTs are non-physical – so when you buy an NFT object, you only own a piece of the blockchain and NO physical item
But he decided not to sell it.
In January, he announced he had made a staggering $535,000 / £436,000 profit after selling a World of Women NFT for $765,000 / £623,000.
“Speechless again,” he said.
“Normally I probably wouldn’t say anything, but that’s probably something.”
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https://www.the-sun.com/tech/5608892/logan-paul-nft-collection-worth-cryptopunks-veefriends/ Inside Logan Paul’s INCREDIBLE £4million NFT collection including expensive CryptoPunks and VeeFriends