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.

One Comment

  • 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.

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