Recent cryptocurrency prices have plummeted, with Terra Luna suffering the most, and Logan Paul revealed the shocking amount KSI has lost.
Right now, the crypto and stock markets are in a terrible state. After investing a lot of money in cryptocurrency, Paul and KSI suffered significant losses due to the financial collapse.
KSI invested almost £2.5m in the currency, but it fell to £800 in a few days. Also, Terra Luna fell from £70 to less than 13p after which people lost their “life savings,” according to reports.
“It’s not a great time to be fully involved in crypto, especially if you were involved in Luna. KSI, my business partner in Prime, lost over $3million, gone. I personally have lost over $500,000 so far,” Paul stated on his podcast ” Impulsive “.
“I will say though, if you believe in the tech. The function of cryptocurrency, zoom out and go super macro then this is nothing. It’s just another bump in the road, but that’s really hard for people.
“A lot of people FOMO [fear of missing out] buy and panic sell, you have to remove your emotion from this situation and if you play the long game then you’re gonna win.”
Nevertheless, Paul isn’t giving up crypto completely, as he has recently launched the ’99 originals’ NFT project. The project boasts 99 polaroid pictures that Paul took over the course of 99 days, which are sold as NFTs.
“It’s a little financially scary at times, that’s why I launched one of the most important projects of my life during the worst bear market we’ve ever seen, Paul joked. “I’m just kidding, [99] originals is doing fantastic.”
“It’s been amazing, the first one sold for $60,000 the second one sold for $100,000. We’ve sold four, the DAO has roughly $130,000 to play with and it’s doing remarkable. I can’t actually believe how against the grain, to the market that it is.”
Despite the ongoing crypto bear market, Paul has been surprised by the amount of support his NFT project has received.
“I’m getting a lot of texts from notable people, who are realising quickly how much work I put into this.
“Both mental and physical work that is spread out by a team of people. It’s been nine months of blood, sweat and tears and I couldn’t be happier.”
