NFT trading is a risky business. While some board rocket ships destined for the moon, others find themselves rekt overnight.
Join us as we take a walk of shame through the biggest NFT flops of all time.
#1 Winter Bear #1178 - 99.95%
Winter Bear #1178
Winter Bears is a collection of 10,000 cute polar bear characters that tanked hard. Despite a sales volume of 8999 ETH, the floor price sits at 0.013 ETH. All the bears slumped, but none more so than #1178. Purchased for 15 ETH the best offer is currently 0.005 ETH. That’s a loss of over 99% as the bear flirts with literal zero.
#2 Starcatchers #1755 - 99.93%
OpenSea
Starcatchers got off to a great start with 8698 ETH in sales but things went downhill not long afterwards. The floor price languishes at 0.019 ETH and the highest value Starcatchers have suffered the worst. Despite a previous sale of 30 ETH ($39,453) Starcatchers #1755 is now valued at just 0.0181 ETH ($23.76).
#3 Meka #2194 - 99.92%
OpenSea
MekaVerse seems to have been dogged by one catastrophe after another, so it shouldn’t be a surprise to see it featured here. Meka #2194 was purchased for a boggling 500 ETH. With the floor price sitting at a measly 0.279 ETH and the highest offer for #2194 just 0.4 ETH, it doesn’t look like the owner will be able to recoup their 99.92% loss any time soon.
#4 Jack Dorsey’s First Tweet - 99.7%
Perhaps the most infamous NFT flop of all, Jack Dorsey’s first tweet was purchased by Sina Estavi for $2.9 million. Despite describing the tweet as the “Mona Lisa of the digital world” Estavi’s attempts to sell culminated in a top offer of just $6,800 (the price was set at $48 million).
#5 Doggy #6652 - 99.7%
OpenSea
Some pieces from Snoop Dogg’s Doggy Collection were undoubtedly bought too high. Doggy #6652 was purchased for a colossal 69.42 ETH ($91,295.63) but the highest offer stands at just 0.1587 ($208.46), which is roughly in line with the current floor price of 0.145 ETH.
#6 1/1 Bumblebee @0n1Force - 99.3%
Given Logan Paul’s dubious history in the NFT Space, some might consider this poetic justice. Paul gleefully tweeted that he’d just dropped 188 ETH ($623,000) on a 1/1 On1Force Bumblebee. His “probably nothing tweet” was prophetic. The NFT is now valued at just $4000.
#7 CrypToadz #1519 - 98.9%
It’s by no means the biggest loss on the list, but a 98.9% hit is painful. CrypToadz #1519 was purchased for a heady 420 ETH ($552,350) but the current best offer stands at a mere 1.6 ETH. Not quite “going to zero” but still massive devaluation.
#8 Untamed Elephant #469 - 98.4%
OpenSea
Untamed Elephants crashed hard, which is a shame given its charitable leanings. Untamed Elephant #469 was hit hardest. Purchased for 2.5 ETH it’s currently worth a mere 0.004 ETH. The loss might not be on the same scale as some of the others listed but it’s got to hurt.
#9 FEELSGOODMAN Pepe - 94.4% loss
The Pepe in question.
The problem here isn’t that Pepe suddenly became undesirable or that the market took a downward swing. Instead, collector Halston Thayer bought what he was (allegedly) promised was a special 1/1 Pepe for 150 ETH ($537,084 at the time) from Chain/Saw DAO, only for them to promptly release another 46 identical ones. The value of Thayer’s Pepe plunged 94% to under $30,000 and sent the case to court.
#10 CryptoPunk #273 - 86.1%
Twitter.
It might be surprising to see a CryptoPunk here. Few would call a $139,000 sale a flop or “going to zero”…unless they paid $1 million just 6 months earlier. Although only an 86.1% loss, the fate of Cryptopunk #273 was big news, widely shared and touted by many as proof of the market downturn.
Perhaps the market will rebound and new all time highs will wipe the losses off of this list's JPEGs. After all, "time in the market is more important than timing the market." Let's revisit this list after the next halving in 2025!
