NFT artwork purchased by Neymar for R$6 million is on sale for R$400,000

Neymar bet heavily on the NFT (non-fungible token) wave, which was on the rise in 2022. But the bet did not pay off. Two years later, the Bored Ape artwork acquired by the actor for more than R$6 million is now worth just over R$400 thousand.

The three pieces, which are illustrations of futuristic monkeys, are backed by technology called blockchain, which works as a certificate of authenticity. In other words, everyone knows and can see reproductions of the art, but only Neymar has the originals.

Neymar’s NFTs are for sale on OpenSea, one of the largest platforms specializing in trading this type of art, which is done through the Ethereum cryptocurrency.

The most expensive artwork in the player’s collection, the monkey in a tie-dye shirt, cost around R$3 million at the time. The highest bid on the platform as of Tuesday (10) is 17.7 Ethereums, around R$238 thousand for the piece.

Together, the three Bored Ape pieces acquired by Neymar are worth R$422,860. The player also has another 90 NFTs on the platform.

FALL OF NFTS

In October 2023, the company Yuga Labs, creator of Bored Ape Yacht Club, the monkey series, announced layoffs after a sudden drop in the value of the pieces.

In addition to Neymar, celebrities such as Jimmy Fallon and Paris Hilton have invested thousands of dollars in the company’s art. Between 2022 and 2023, turnover fell by 89%.