Hey Peeps!

I am sure you have seen a bunch of articles titled "Logan Paul's $632k NFT is now worth only $10!" or something similar.

What if I told you, that I looked into this and found that the reported news isn't actually the entire truth...

I believe a lot of the "reporting" done on this news story was very lazy and basically stems from these two posts by Logan Paul on Twitter and Snapchat.

As you can see, Logan Paul captioned the Snapchat image with "an NFT I bought for $623,000 that's now worth $10". 

Then on the Twitter post, he states the NFT is "worth essentially nothing". 

All it took was a quick check of Logan Paul's OpenSea and DappRadar profiles, plus the transaction on Etherscan to get the true statistics. 

• Etherscan shows that the NFT was purchased for 188 Wrapped Ethereum (WETH) on August 23rd, 2021.
• 188 WETH was approximately $626,824.72 at the time of purchase.
• DappRadar shows the Floor Price being 0.8 Ethereum (ETH).
• OpenSea shows that the top bid for the NFT is sitting at 2.1 WETH.

Clearly the NFT is worth much more than $10, and certainly is nowhere close to being worthless. 

I decided to write this post because I thought it would be interesting to cheekily write about Logan Paul losing some money. Not to be cruel, just to have a little fun at his expense; he could certainly afford it. 

However, after doing a couple minutes of research, I realized the information was just not entirely right. In my opinion, the reporting is really lazy, and it seems like the majority of news sites just copied each other without doing a minute of research themselves. 

It is not really a big deal at all, but clearly the NFT is not worth $10 now. I feel like mainstream journalism is always trying to make something as buzzworthy as possible.

What do you guys think about all this?

Am I making a big deal out of the reporting?

Do you find it funny that Logan Paul's NFT seems to be a bad investment?

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:)