Kevin Hart Purchased An NFT For $200K But How Much Is It Really Worth?

Trends come, and trends go. As artificial intelligence (AI) and virtual reality (VR) have been getting all of the attention lately, technology such as non-fungible tokens (NFTs) has simmered down. 

Now, Kevin Hart is one of many who have experienced one of the pitfalls that come with blockchain technology.

In January 2022, the actor and comedian reportedly bought a Bored Ape Yacht Club non-fungible token (NFT) for 79.5 ETH or $200,401 in a deal facilitated by MoonPay, a cryptocurrency marketplace. The reported purchase was at a time when numerous celebrities such as Hip-Hop artist Snoop Dogg and NBA player Stephen Curry were securing the once popular company’s digital tokens.

Hart reportedly sold his NFT on March 25, 2024, for 13.65 ETH, which equates to $47,000 — significantly less than his original purchase of over $200,000. The outlet described the reported sale as an “81% discount.” 

As previously shared, this particular NFT fell after, the cryptocurrency market crash due to the blockchains TerraUSD and Luna. What’s more, the company’s NFTs were said to have depreciated to around $60,000.

The vast majority of NFTs are worthless.  Its study was based on a comprehensive analysis of over 73,000 NFT collections.

Of the 73,257 NFT collections we identified, 69,795 of them have a market cap of 0 Ether (ETH),” the report found. This means that 95% of people holding NFT collections are currently holding onto worthless investments. Having looked into those figures, we would estimate that 95% to include over 23 million people whose investments are now worthless.”

While Hart is said to have suffered a loss with his NFT, his countless other investments remain intact. He had a reported net worth of $200 million in early 2022.

Hart can credit his wealth to investments in companies such as Hungry, Hydrow, Tommy John, Black Sands Entertainment, and others. He also owns a tequila brand, Gran Coramino, and a plant-based, fast-food restaurant, Hart House.