The non-fungible token (NFT) collection of rock legend Ozzy Osbourne, CryptoBatz, shot up in value following his death on Tuesday, new data from CoinGecko shows.
CryptoBatz Sees Spike in Value
According to data from the cryptocurrency performance platform, CryptoBatz skyrocketed by over 400% shortly after Osbourne’s passing was announced on Tuesday.
By Wednesday, however, the collection’s average sale price started to cool, dropping 10% to 0.076 ETH between July 22 and July 23.
Launched in December 2021, the CryptoBatz website markets the NFTs as a “chance to own a completely unique piece of collectible art created by one of the most legendary rock icons of our lifetime.”
The NFT collection’s name is seemingly a nod to a 1982 incident from Osbourne’s tour of his sophomore album, Diary of a Madman, when he accidentally bit off the head of a live bat onstage during a performance in Des Moines, Iowa.
“Every CryptoBat trait has been creatively directed by Ozzy Osbourne,” the website reads. “Unlike some of Ozzy’s previous bat friends, these ones live safely in the metaverse and are not edible…yet.”
Family of Ozzy Osbourne Announces His Passing
CryptoBatz faced scrutiny just two days after the NFTs were minted in January 2022, when The Verge published a report alleging that the project had yet to delete X posts, leading users to a Discord server controlled by scammers.
According to the report, up to 1,330 users had been listed as members of the Discord at the time. The X posts have since been taken down.
News of CryptoBatz’s increase in value came shortly after Osbourne’s family announced his passing on Tuesday at 76 years old.
“It is with more sadness than mere words can convey that we have to report that our beloved Ozzy Osbourne has passed away this morning,” the family’s statement read. “He was with his family and surrounded by love.”
