Wu-Tang NFT Profit
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Martin Shkreli shares how he turned an expected loss on the Wu-Tang album into a profit during the NFT bubble.
"When I had to pay my criminal fines, I decided to sell the Wu-Tang album. It was funny because there was this NFT bubble, and I basically said 'If I turn this into an NFT or sell it to a crypto bro, I might even get my money back on this thing.'
It was basically just a lark - I had marked it down like 75% in value. But I was able to actually turn a profit on it, so I was happy to time that bubble well. That helped me pay off my criminal fines."
Martin Shkreli
Former hedge fund manager and pharmaceutical executive. Founded Retrophin and Turing Pharmaceuticals, gaining notoriety for increasing the price of Daraprim.
Convicted of securities fraud in 2017, sentenced to seven years in federal prison. Banned from the pharmaceutical industry and ordered to return $64.6 million in profits.