About a month ago, John Terry launched his NFT collection, Ape Kids Football Club. But the project value has dropped by almost 90% since then, according to a report from The Athletic.
John Terry’s NFT project drops from $656 to $65
When the crypto project was launched on February 2, it was worth $656 on average. But its value as of March 8 was a paltry $65.
The drop in its value comes with the subtle removal of its endorsement by former Chelsea players Tammy Abraham and Ashley Cole, who tweeted about the project.
In January, Terry first announced the project in partnership with Ape Kids Universe, claiming he has signed as the head coach.
The collection, which seems to have been influenced by Bored Ape Yacht Club, contains 6626 NFTs. Each is a unique picture of a cartoonish kid character with an ape head in a football jersey.
While the project may appear controversial, it quickly garnered the support of some of Terry’s former teammates, including Willian.
It has 2,445 holders so far, with many buying it during its early days. Unfortunately, this means many holders will find it…