In a recent turn of events, Steve Aoki, who once predicted in August 2021 that NFTs would become integral to culture within five years, is now divesting his remaining crypto assets. Arkham Intelligence data reveals that on Monday, Aoki’s wallet sold 1.785 billion SHIB for about $10,300 and exchanged 7.25 ETH for roughly $15,900. These transactions redirected $29,650 in USDT to Gemini. Earlier, the same wallet had offloaded 4.155 billion PEPE via 1inch for approximately $14,700. Additional minor stablecoin transfers ranging from $600 to $1,700 through MetaMask occurred between these larger sales.
Despite these transactions being relatively small, they reflect significant financial losses for Aoki. In the height of the NFT craze in 2021, he acquired seven Bored Ape Yacht Club NFTs for over $800,000. Today, those Apes are valued at about $13,800 each, totaling around $97,000—an 88% reduction from their original cost. Although unsold, the current floor prices indicate minimal potential recovery.
During this period of heightened NFT interest, Aoki financed “Dominion X,” an NFT-based TV show developed in partnership with Seth Green’s Stoopid Buddy Studios. The project managed to sell 500 NFTs within 30 seconds on Nifty Gateway. However, as noted by his manager in conversation with CoinDesk, these sales only just met production expenses and highlighted a market for blockchain-originated IP despite the show never reaching broadcast.
The downward trend of the NFT market is evident as Bored Ape floor prices have plummeted from over $400,000 in early 2022 to under $14,000 presently. The bull market spanning 2023 to 2025, which saw Bitcoin soar beyond $126,000, largely excluded NFTs, favoring instead projects with tangible utility and portfolio value. Aoki retains possession of the seven Apes but is channeling all other assets to Gemini.