Why this Logan Paul fan spent over $80k to buy Originals NFTs - Dexerto
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Why this Logan Paul fan spent over $80k to buy Originals NFTs: “Logan is a once in a generation creator”

Published: 17/May/2022 15:17

by Jacob Hale

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Logan Paul’s 99 Originals NFTs are already exceeding expectations, despite the fact it’s still early days for the collection. We spoke with Shahan Khoshafian, the buyer of the very first Originals NFT, to discuss why he bought into the project, his belief in Logan Paul, and why he believes 99 Originals is a solid investment.

In May 2022, the older Paul brother launched his 99 Originals NFT collection — 99 different polaroids depicting various different things and events in his life, with each one going to auction to fans.

There was a lot of speculation over how things would go with 99 Originals, and while it’s still extremely early days, the pieces have been selling at premium prices.

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The most expensive so far was #14 42 Bored Ape, which sold for 46.5 ETH or $104k at the time of sale. The first, though — #1 ORIGINAL_ONE — sold for a still-substantial 25 ETH/$58k to Shahan Khoshafian, who believes fully in Logan and the future of the 99 Originals project. He actually believes so much that he even bought a second.

Logan Paul's 99 Originals Original_One NFT
99 Originals
The first of Logan Paul’s 99 Originals depicts artist Beeple alongside his $30m NFT.

For many onlookers from the outside, buying a YouTuber’s NFT seems like a one-way ticket to disaster. We’ve seen scam allegations in abundance since the growth of crypto and NFTs as they shift more into the mainstream — but Khoshafian had no doubt in 99 Originals.

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“I bought this NFT to get involved in the Logan Paul ecosystem,” he told Dexerto. “Logan is a legendary content creator, he and Jake revived the sport of boxing, he launched Prime with KSI, and he’s a huge influence on culture. Logan Paul has proved time and time again that he is more than just a YouTuber. He’s a world-class athlete, podcaster, entertainer, and entrepreneur, and he surrounds himself with the greatest creatives and business-minded individuals in the world. It’s not by accident that Logan is a success.

“Logan is a once in a generation level content creator and I believe in his team, conviction, and vision to make this project fly.”

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Shahan Khoshafian 99 Originals NFT video holding Logan Paul KSI Prime drink

For someone to invest this much money into the project — around $85k, including his purchase of #92 CANNIBAL several days later — you might expect that Khoshafian is a serial blue-chip NFT holder with some serious investments in the market.

In fact, this couldn’t be less true. “This is my first and second major NFT investment,” he said, pointing to a slight hint of FOMO as his reasoning for investing. “I chose this as my first NFT investment because I feel like I missed the boat with VeeFriends.”

VeeFriends is the NFT collection created by popular internet personality and entrepreneur Gary Vaynerchuk, which has a 7.88 ETH (~$16.4k) floor price at the time of writing.

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veefriends roundup gary vee nft
VeeFriends
Shahan didn’t want to miss out on 99 Originals like he missed the boat on VeeFriends.

While Shahan has a lot of belief in Logan as a person, he has also bought fully into the 99 Originals project itself. “I really like the fact that each NFT holder receives a 1/99 Membership & Voting Rights in the Originals DAO. The Originals DAO has a Community Treasury, with 50% of profits routed directly to the Community Treasury.

“Since there are only 99 holders, I have the opportunity to make a huge impact on the success of this project. I thrive in more intimate environments and felt like this was the right fit to insert myself and share my 6+ years of crypto knowledge and experience to do my part in making this project thrive. I believe that the growth of this project will be highly exciting, original, and lucrative. I wanted an Originals NFT to become a member of the DAO and have an active role in deciding the future of the project.”

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The 99 Originals collection is on track to blow up, and Shahan definitely believes that the project is going places — so there’s no doubting his answer when we asked about his future plans for the NFTs.

“I was the first member of the Originals DAO and I plan to stick around for the long term,” he said. “I took a leap of faith with this project as the first investor because I believe in Logan Paul. I look forward to actively participating as a member of the Originals DAO and collaborating with other members to grow this into one of the most premier NFT projects & communities.”