Due to the market’s negative sentiment, many celebrities who used NFTs as avatars are removing them from their social media accounts.
Most celebrities who purchased and displayed NFTs as social media avatars are now removing them due to the harsh crypto winter, which has resulted in a decline in NFTs.
The fast-paced nature of the cryptocurrency market drew celebrities looking to invest their fortunes.
Some of Hollywood’s biggest names, including Justin Bieber, Ashton Kutcher, and Bruce Willis, took part in various projects.
During 2021, many people bought NFTs, particularly from the Bored Ape Yacht Club (BAYC) collection.
Is the NFT hype over?
Most celebrities, including Serena Williams, Reese Witherspoon, Lil Durk, Travis Barker, and Shonda Rhimes, who proudly displayed their BAYCs as a Twitter avatar, have recently changed them.
Jimmy Fallon was particularly pleased with his ape. During his show with Paris Hilton, he displayed a copy of it and stated that they were “part of the same community.”
Fallon’s avatar was changed to a selfie on June 8, 2022, despite his excitement at the time. He did, however, keep the extension near his name to indicate that he is still a member of the community.
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