NFT collection seems to be a complete failure

CHRIS BROWN’S

Chris Brown recently launched his NFT collection, Breezyverse on July 1, 2022. The American singer’s NFT doesn’t seem to be doing well in the marketplace as only 297 NFTs are sold so far.

Breezyverse is a collection of 10,000 NFTs of Chris Brown himself with 3D futuristic effects and other different traits.

Over the past few months, celebrities are joining the NFT bandwagon. Some have bought an exquisite collection of already released NFTs, while others are launching their own NFTs in partnership with Web3 companies.

Chris Brown decided to drop the NFT collection of himself for his fans to collect. However, only 297 NFTs were sold from the series, making it a complete debut failure for the singer.

Compared to his songs that have almost a million views in every single one, NFTs doesn’t seem to have impressed his fans.

The reason behind Chris Brown’s NFT collection failure is the unrealistic listing price for each NFT, i.e, 0.35 ETH or $440 for one NFT.

We all know how celebrity-endorsed products tend to be high-priced than the usual ones, Breezyverse team thought the same approach would apply to NFTs too.

However, with the NFT bear market, no one seems to be interested in buying an expensive NFT. Even the non-NFT fans wouldn’t risk buying an NFT that is almost equivalent to a VIP concert ticket.

Will Chris Brown’s NFT collection sell any better? With the current prices, it is highly unlikely unless the team reconsiders lowering the listing price for each NFT.