Gate Blog

Your Gateway to crypto news and insights

Gate Blog
Latest Posts
- Hotspot
- Industry Analysis
- Common Knowledge
- Market Insights
Guide
- Crypto 101
- Trading Guide
Company News
- In the Press
- Newsroom
- Promotions
- Crypto 101
- CEO Notes
- Gate.io AMA
- Gate Charity
Institutional

Gate.io Blog Don’t do what this Turkish NFT Investor did so You don’t end up Living with Your Parents

Don’t do what this Turkish NFT Investor did so You don’t end up Living with Your Parents

20 March 08:29

[//]:content-type-MARKDOWN-DONOT-DELETE
![](https://gimg2.gateimg.com/image/article/1679270956热点追踪 封面.jpg)

## TL; DR
Berat Kurnaz invested $2,000 in a failed NFT collection called Crypto Dragons.

The major reason why Kurnaz invested in the CryptoDragons NFT collection is his trust in Paul Pogba.

Dez Bryant, Neymar Jr, Serena Williams, Stephen Curry and Dillian Whyte are examples of sportspersons who own NFTs.

Some failed NFT projects or collections include Ellen DeGeneres NFT, Beeple and Madonna’s NFT collection, Melania Trump and Jack Dorsey’s first tweet was “NFT

## Introduction
An NFT project, Crypto Dragon, that has failed, has put one Turkish investor, Berat Kurnaz, into debt to the extent of being unable to fend for himself fully. This forced him to go back and live with his parents, leaving his independent lifestyle, where he used to stay on his own.

About two years ago, the popular Juventus midfielder, Paul Pogba promoted an NFT collection called Crypto Dragon. In fact, he endorsed the collection onTwitter where he had over 10 million followers by that time.

![](https://gimg2.gateimg.com/image/article/1679271997Turkish NFT 1.png)
Paul Pogba - [Newsky](https://e3.365dm.com/22/08/1600x900/skynews-paul-pogba-old-trafford_5879723.jpg?20220829071724 "Newsky")
Pogba boasted that he had purchased his first ever NFT, "an egg with a dragon inside.”

![](https://gimg2.gateimg.com/image/article/1679272015Turkish NFT 2.png)
Pogba’s Tweet- [Twitter ](https://twitter.com/paulpogba/status/1460291749805535233?lang=en-GB "Twitter ")
However, following this post a few of his followers cautioned their colleagues to do due research before investing in the NFT drops. For instance, someone by the username @Killashaw10 posted the following.

![](https://gimg2.gateimg.com/image/article/1679272037Turkish NFT 3.png)
Killashaw- [Twitter](https://twitter.com/killashaw10/status/1461551570449932295 "Twitter")
As you note in the image above, Killashaw gave a humble warning for people to carry out serious research. Definitely, Berat Kurnaz was one person who did not take heed of Killashaw’s warning. After getting encouragement [to buy the NFTs](https://www.gate.io/blog_detail/1681/how-to-buy-and-store-non-fungible-tokens "to buy the NFTs") from his sister, Kurnaz borrowed $2,000 from a bank and purchased the NFTs.

At the time that Breat Kurnaz invested in the failed crypto project, the cost of each [NFT](https://www.gate.io/learn/articles/what-are-nfts/4 "NFT") was 35 ETH which was worth $162,000. Sadly, at the time of writing each NFT is worth about 0.003 ETH, equivalent to $5.00.

Kurnaz’s life has changed for the worse following that rookie NFT investment. After the NFT collection failure, he can no longer socialize as before or travel as he used to do in the past. This is the reason Kurnaz said,"I can't buy anything. I can't do anything. I'm just working, working, working.”  He added,"When you don't have money, you lose more money. You can't think straight."

According to him, the major reason why he invested in the Crypto Dragon NFT collection was because of Pogba’s influence and his trust in him. “We invested in Pogba, not the NFT,” he said, referring to the Crypto Dragon NFT collection which has turned into a failed crypto scheme.

Right now, Kurnaz spends much of his time working to pay off his debts. During his downtime, he stays indoors and plays video games.

## What are Crypto Dragons?

Crypto Dragons is a metaverse platform, existing on <a href="/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> blockchain, which uses cutting technology such as advanced algorithms and where people own, breed and trade NFT dragons. It is an NFT project that uses the concept of blockchain DNA which enables the NFT dragons to breed combinations of unique genes.

The Dragon DNA contains 12,000 attributes with a possibility of replicating billions of individual dragons, each with 25 basic genes and 16 variations per gene. Originally, an individual buys NFT eggs and each egg will breed a one-of-a-kind dragon. Notably, the shell of the egg is also an NFT.

The NFT Dragon owners can sell them and generate income. Alternatively, they can use their Dragons in battles and win awards for that. Owners of the Legendary NFT dragons get regular income from holding them. 
## Sportsmen who own NFTs
Apart from Paul Podga, there are other sportsmen who own NFTs. Odell Beckham, Neymar Jr, Tom Brady, Ben Simmons, Steph Curry and Serena Williams are examples of sportspersons[ that own NFTs](https://www.gate.io/blog_detail/2286 " that own NFTs"). Let’s briefly discuss a few of these.

**Dez Bryant**: Bryant, a Former athlete purchased Bored Ape Yacht Club #2902 in July 2021. Significantly, the value of this NFT rose by over 2,000% since then. Later on Bryant formed an athlete NFT platform that develops dynamic NFTs. 
 
Read also: [What Is Bored Ape Yacht Club (BAYC)?](https://www.gate.io/learn/articles/what-is-bored-ape-yacht-club/143 "What Is Bored Ape Yacht Club (BAYC)?")

**Neymar Jr**: Another famous NFT owner is Neymar Jr who plays soccer for Paris Saint-Germain (PSG). He purchased BAYC NFT #6633 and Bored Ape #5269 in January 2022.

**Serena Williams**: Serena Williams, the American professional tennis star, bought CryptoPunk #2950, a pixelated portrait of a woman with a white and blue headband.

![](https://gimg2.gateimg.com/image/article/1679272096Turkish NFT 4.png)
Serena Williams- [Skysports](https://e0.365dm.com/22/06/1600x900/skysports-serena-williams-tennis_5804499.jpg?20220614125959 "Skysports")

Related articles:
[What Are CryptoPunk NFTs?](https://www.gate.io/learn/articles/what-are-cryptopunk-nfts/96 "What Are CryptoPunk NFTs?")
[Looking at the Past and Present of NFT from ](https://www.gate.io/blog_detail/103/looking-at-the-past-and-present-of-nft-from-cryptopunk-7523 "Looking at the Past and Present of NFT from ")

**Stephen Curry**: Curry, a basket player, one of the best shooters in the NBA history bought Bored Ape #7990 for 55 Ether (ETH). Later, he produced his own collection comprising 2,974 NFTs, digital art replicas of the sneakers he used to wear when he was a tennis player.

**Dillian Whyte**: Whyte, the British boxer and a two time WBC interim heavyweight title holder, is an ambassador of the Lucky Block NFT project. Thus, he is also a holder of [Lucky Block NFTs](https://www.gate.io/price/lucky-block-lblock "Lucky Block NFTs"). 
## Biggest NFT fails of all times

The truth is that not all NFT projects become successful. Sadly, even NFTs from renowned projects and creators may fail to make the expected grade. The prominent examples of NFT collection failure are Ellen DeGeneres NFT, Beep and Madonna's Material Girl, Pixelmon, Mike Tyson’s NFT Young Mike, Confessions from the Hart Collection, Akutars NFT smart contract, the breezy verse genesis collection, the Otherside mint gas war and Jack Dorsey’s first tweet.

**Jack Dorsey’s first tweet was “NFT**:  This  NFT, a screengrab-styled image of Jack Dorsey’s first tweet, which reads, “just setting up my twttr, ” sold for close to $3 million in March 2021. However, when the Iranian-born crypto entrepreneur Sina Estavi sold it, it only fetched $14,000 instead of the expected $48 million.

**Ellen DeGeneres NFT**:  Ellen DeGeneres’ NFT collection called “Woman with Stick Cat”  comprising gold and silver NFT editions sold for $2,500 each while the NFT consisting of DeGeneres’ video monologue was sold for $14,555. In all, the collection raked in $33,455 in sales.

**Beeple and Madonna’s NFT collection**: Beeple and Madonna’s Material Girl NFT, a 3D graphic motion showing a woman giving birth to a centipede, butterflies and a tree fetched $346,000, $146,000 and $135,000 respectively.

**Melania Trump**: The NFT collection of Melania Trump, ex-First Lady of the United States, featuring an autographed white hat which former President Trump wore in 2018 when he had French President Emanuel Macron, sold for only 1,800 SOL which was equivalent to $250,000 at the time of sale.

Read also: [Top 10 Most Expensive NFTs Ever Sold](https://www.gate.io/learn/articles/top-10-most-expensive-nfts-ever-sold/285 "Top 10 Most Expensive NFTs Ever Sold")

## Conclusion
It is important for an investor to carry out a thorough research before investing in an NFT project. This is because there are many NFT collections and projects that have failed over the years resulting in much loss of funds. Berat Kurnaz, a Turkish NFT investor is an example of an individual who invested in a failed NFT project, CryptoDragons.

<div class="blog-details-info">
<div>Author:** Mashell C.**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

BTC/USDT + 1.28%

ETH/USDT + 2.21%

GT/USDT + 2.06%

TL；DR

Introduction

What are Crypto Dragons?

Sportsmen who own NFTs

Biggest NFT fails of all times

Conclusion

Claim 20 Point now

Exclusively for Newcomers: complete 2 steps to claim Point immediately!

🔑 Register an account with Gate.io

👨‍💼 Complete KYC within 24 hours

🎁 Claim Point Rewards

Claim now

Don’t do what this Turkish NFT Investor did so You don’t end up Living with Your Parents

Select language and region

Fiat Currencies