Odell Beckham Jr., star wide receiver of the Baltimore Ravens, made a costly investment in an NFT following his Super Bowl victory in 2021. The WR spent a staggering $2,170,000 on a Crypto Punk NFT, expecting it to be a valuable asset. Unfortunately, this decision proved to be a disastrous one for Beckham’s finances.
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In just over a year, OBJ experienced a devastating blow to his financial portfolio as the value of his NFT investment plummeted by a staggering 50%. The star wide receiver had made a massive investment in an NFT known as Crypto Punk #3365. However, what seemed like a promising venture turned into a hefty loss.
Odell Beckham Jr. Faces Substantial Losses in NFT and Bitcoin Investments
The value of OBJ’s Crypto Punk NFT, which represents a pixelated avatar of the 2014 NFL Offensive Rookie of the Year, plummeted by 50% as per ValueWalk. What was once a prized possession worth $2.17 million, was valued at $914,000 in November 2022, resulting in a substantial loss of $1,255,377. The significant drop in the value of Beckham’s NFT highlights the volatile nature of the NFT market. NFTs are subject to the fluctuating value of cryptocurrencies.
Odell Beckham Jr @obj just changed his profile pic to a CryptoPunk 🔥#NFT pic.twitter.com/2dNo6mB5T2
— LilMoonLambo (@LilMoonLambo) August 19, 2021
Adding to Beckham’s financial woes, he also incurred losses in Bitcoin. After expressing his interest in cryptocurrency, the receiver requested to have his $750,000 salary paid in Bitcoin. Unfortunately, the value of his salary is estimated to have plummeted to $413,000. This happened due to the recent price fluctuations in Bitcoin.
The decline in the value of Beckham’s NFT investment and the depreciation of his Bitcoin salary underline the importance of thorough research, strategic planning, and risk management when delving into emerging markets. It serves as a reminder that even high-profile individuals are not immune to the unpredictable nature of these investments.
Odell Beckham Jr.’s Lucrative Contract with the Ravens
In his new venture with the Baltimore Ravens, OBJ has secured a remarkable contract. His deal will likely overshadow the recent loss he suffered from his NFT investment. Beckham is set to earn a whopping $15 million in a single season. The deal showcases the substantial financial commitment made by his new team.
The contract breakdown reveals that Beckham signed a one-year deal with the Ravens, which includes a significant signing bonus of $13,835,000. The entire contract amount is guaranteed, providing Beckham with financial security for the duration of his agreement. For the 2023 season, his base salary will be $1,165,000, further contributing to his impressive earnings.
Despite the loss incurred from his NFT investment, the substantial earnings from his new contract with the Ravens undoubtedly eliminate any financial concerns. The lucrative deal showcases the team’s belief in Beckham’s abilities and their investment in his on-field contributions.
With a promising season ahead, Beckham has the opportunity to make a significant impact on the Ravens. The financial stability provided by his contract allows him to focus on his performance and leave the NFT loss in the rearview mirror.
