In the early days of 2022, non-fungible tokens (NFTs) were making headlines in the tech and art worlds alike, and even pop icon Justin Bieber was drawn in by their allure.
Justin Bieber purchased a ‘Bored Ape’ token, costing a staggering $1.3 million. Yet, a year and a half later, the value of this same token has plummeted to a meagre $59,090.
The shocking net loss of approximately $1.24 million ranks among Bieber’s most significant regrets, adding another chapter to the string of missteps in his life, which has been under the public eye since he was just 13 years old.
Bieber NFTs Collection
Bieber was one of the earliest big-name celebrities to embrace NFTs, heralded as a revolutionary development in digital asset ownership. The Bored Ape series was perceived as a digital equivalent of owning a prime Warhol artwork. However, its value has drastically fallen and shows no signs of recovery.
The decline of NFTs mirrors the volatile cryptocurrency market. Bieber’s Bored Ape token, though not particularly rare with a rarity rank of 9,810, has seen its value drop in tandem with the overall industry downturn. This industry experienced a rapid rise and fall, reaching astronomical heights only to crash within months.
Other A-list celebrities who jumped on the NFT bandwagon, albeit less extravagantly, include figures like Cara Delevingne, Snoop Dogg, Eminem, Emily Ratajkowski, Kate Moss, Shawn Mendes, Tony Hawk, Lindsay Lohan, and Paris Hilton.
The Bored Ape Yacht Club (BAYC) is a “limited NFT collection where the token doubles as your membership to a swamp club for apes”. Operated by Yuga Labs LLC, the website cheerfully invites visitors to “ape in” and join the club.
According to the official site, “BAYC is a collection of 10,000 Bored Ape NFTs-unique digital collectables living on the Ethereum blockchain”. This collection, however, has proven to be a costly investment for many, including Bieber.
Despite the significant loss incurred by the “Bored Ape #3001”, Bieber spent around $2 million on six NFTs. Here’s the complete list of Bieber’s NFT collection:
- Bored Ape #3850 – 166 ETH
- Bored Ape #3001 – 500 ETH
- Alien Fren #8591 – 2.85 ETH
- World of Women #7853 – 16 ETH
- Doodle #3595 – 17.97 ETH
- Doodle #8426 – 13 ETH
