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Twitter reacts as John Terry backed NFTs plummet 90% in value

Twitter reacts as John Terry backed NFTs plummet 90% in value

All and everything sharing a connection with Chelsea seems to be having a nightmare of a time. After the UK government-imposed sanctions on Roman Abramovich and his club on Thursday, John Terry became the latest Blue to be enduring a tough time as reports emerged about his collection of Non-Fungible Tokens (NFTs) having fallen over 90% in value over the last month.

According to various sources, Terry’s ‘Ape Kids Football Club’ NFTs were publicly trading for an average price of $656 after launch on February 2. By March 8 the average price had dropped to $65.

This has landed Terry in trouble as numerous fans would now be losing quite a lot of money after having invested in NFTs due to his endorsements.

In response to this, other footballers such as Tammy Abraham and Ashley Cole who had supported Terry’s enterprise in the past severed any links to it by deleting all signs of endorsements from the past.

This collapse in value also comes during a time when the Premier League are in talks over an official NFT project and the latter would now be having a reality check over this risky but enterprising venture.

Football fans (at least those who haven’t invested in Terry’s scheme) have gone to town on social media with heavy banter being unleashed on the Chelsea legend’s predicament. As this news broke out right in the middle of the sanctions from the UK government, fans of rival clubs have been able to hit two birds with one stone.

Here are some of the best hits from Twitter:

With his current part-time consultancy role at Cobham, Terry remains an official Chelsea employee and surely the club would be expecting to avoid these extra controversies while they continue to receive blows from the UK government.