Coin Gabbar Token

<h2 id="header-0">The concept of buying and selling crypto art via non-fungible tokens (NFTs) has spawned an internet craze that even A-list celebrities can't ignore.</h2>The encrypted art kept on the blockchain represents individual pieces of digital content purchased using cryptocurrencies. According to data analyzed by CoinGabbar, the total value of the five separate purchases made by celebrities came to a total of $9,873,500, as per sources statistics.The five purchases were made from only two <a href="https://www.coingabbar.com/en/crypto-blogs-english/make-money-using-nfts" rel="noopener noreferrer nofollow">NFT collections</a>, The Bored Ape Yacht Club and CryptoPunks. The most expensive NFT was a CryptoPunk purchased for $3,764,500 by Gary Vaynerchuck, popularly known as Gary Vee. NFL athlete Odell Beckham Jr came in second, paying $2.17 million, while American rap star Snoop Dogg came in third, paying $2.1 million.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/90450e204b534fafabec4c501a1d810f.jpeg">At $1.3 million, Justin Bieber's purchase of <a href="https://www.coingabbar.com/en/crypto-currency-news-english/apecoin-community-soon-gets-separate-bayc-nft-marketplace" rel="noopener noreferrer nofollow">Bored Ape Yacht Club</a> #3001 comes forth. Furthermore, Neymar rounds off the top five with his $539,000 BAYC purchase.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/32f88c95057446028187dfdc9044e2ec.jpeg">Some celebrities such as Gary Vee and Justin Bieber have purchased multiple NFTs, implying that the total value of the top five purchases would be more than $10 million.NFTs see a decline in interestFurthermore, there has been a significant advancement in the development of NFTs. Recently, a real estate developer in New York City purchased the first-ever real-life office building as an NFT. Furthermore, the European Union intends to combat <a href="https://www.coingabbar.com/en/crypto-currency-news-english/eu-plans-combat-counterfeiting-nfts" rel="noopener noreferrer nofollow">counterfeiting with NFTs</a> by 2023.Notably, CoinGabbar reported in August that non-fungible token Q2 trade volume fell 40% as interest in digital collectibles began to fade.The crypto market encountered significant challenges in mid-May, as the NFT market collapsed. The volume of NFT trading fell from $19.02 billion in Q1 to $11.26 billion in Q2.According to a June industry survey, the majority of users, namely 64.3% of those polled, only bought NFTs "to make money." Given that more than half of investors buy NFTs only for financial gain, it is maybe not surprising that Q2 trading volume fell as the crypto market fell.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/group-warns-community-percent-tax-burn-terra-classic-lunc" rel="noopener noreferrer nofollow">Group Warns Community About 1.2 Percent Tax Burn For Terra Classic (LUNC)</a>

How Much Celebrities Spend On NFTs

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