In recent months, NFTs (non-fungible tokens) have become increasingly popular with many celebrities promoting their own NFTs. Now, many fans who invested in digital tokens promoted by their favorite stars are financially “crippled.” One investor believes that celebrities “took their payouts and moved on while everybody who scraped by to invest in their futures got robbed.”
NBC News reports that many investors who purchased NFTs promoted by popular celebrities have found themselves financially ruined. NBC News tells the story of a man named Tyler who purchased a “Bored Bunny” NFT promoted by champion boxer Floyd Mayweather.
NFT band “Kingship”
NFT band “Kingship” (UMG)
Tyler invested $12,000 into the NFTs, which are just a series of images of rabbits similar to the popular Bored Ape Yacht Club that grew in popularity as NFTs became more prominent in the crypto space, based on Mayweather’s endorsement of the project.