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Michael Jordan's Heir "6 Rings" NFT Loses Nearly All of its Value



Michael Jordan’s Heir “6 Rings” NFT Loses Nearly All of its Value

The crash of Solana has brought the value of Michael Jordan’s “6 Rings” NFT collection down by a staggering 92%.

Jordan first released the NFT collection on March 3, 2022, and offered 5,000 non-fungible tokens to buy.

At the time, each NFT was sold at around 16.99 SOL. However, the price of Solana dropped steeply, resulting in a net loss of over 92%. When they first launched, the average sale of each 6-Ring NFT was 16.99 SOL, which is about $1631.04 USD.

The tokens have ranged in sale price from around 2.94 SOL ($42.55 USD) to the highest (the Gold 6 Rings Bull), priced at 50,000 SOL ($723,000 USD).

The loss comes after the exposure and resignation of Sam Bankman-Fried and the crash of FTX and Alameda, tanking SOL value significantly. Solana had invested $134 million in FTX.

The NFTs are listed at around $45 now.

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4 months ago

NFTs need to be investigated as well. I lost $500k from last Art Week in Miami. So much hype and now my shit is worth 15k and falling.