Kevin Hart is someone who is extremely wealthy and famous. Consequently, he can afford to lose some money on an ill-advised purchase from time to time. In 2021, the ill-advised purchase that everyone seemed to be making, was NFTs. During the 2021 crypto bull run, NFTs were a narrative that brought forth a whole lot of FOMO. Overall, people thought they were going to become rich off of glorified JPGs that could be screenshotted. Sure, your ownership of the images would be tied to the Blockchain, however, not enough people use the Blockchain for this to have resulted in real utility.

The Rise and Fall of NFTs

Subsequently, the price of Bitcoin eventually crashed from $69,000 to $15,500, while NFTs dove even further. However, Bitcoin is now back up to $70,000 and a new crypto bull run is around the corner. As a result, some of the people who got stuck with useless NFTs are now selling in attempt to get their investments back. Unfortunately, the NFT narrative is pretty well dead as investors are putting their money into AI, Depin, and Crypto Gaming. As for Hart, he had a Bored Ape Yacht Club NFT that he wanted to get rid of, and in the end, he was able to do just that.

Kevin Hart Loses On His Investment

The problem is that he lost over $150K in the process. According to reports, Hart purchased the NFT for over $200,000. However, when he auctioned it off, he was only able to get a grand total of $46K. This is a massive loss, although it is probably better than what he could have gotten for it a year ago. In the coming months, we imagine plenty of other artists will be looking to sell their NFTs as well. Unfortunately, they too should expect some heavy losses.

Let us know what you think of this failed investment from Kevin Hart, in the comments section down below. What are your overall thoughts on the NFT world? Was this a scam from the start? Is there still potential here? Additionally, stay tuned to HNHH for all of the latest news and updates from around the entertainment world. We will always be sure to keep you informed on all of your favorite personalities and their upcoming projects.