Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Zenger
Zenger
Mehab Qureshi

Bieber’s Bored Ape NFT Takes Devastating 94% Hit

A photo of a musician performing. Justin Bieber's Bored Ape NFT Investment Takes a Devastating Hit, Plummeting Over 94% in Value. MARC-OLIVER PAQUIN/UNSPLASH.
A photo of a musician performing. Justin Bieber’s Bored Ape NFT Investment Takes a Devastating Hit, Plummeting Over 94% in Value. MARC-OLIVER PAQUIN/UNSPLASH.

The Bored Ape NFT that Justin Bieber purchased in January 2022 has witnessed a substantial drop in value.

The 29-year-old pop star, who rose to fame at 16 with the hit “Baby,” lost over $1.2 million on an NFT investment.

 In January 2022, during the peak of the NFT craze, Bieber acquired a Bored Ape NFT. The purchase, executed with 500 Ethereum, was equivalent to $1.31 million based on the ETH price of $2,622.34 at the time, Opensea shows.

The value of Bieber’s Bored Ape NFT plunged drastically, now valued at a mere 30.08 Ethereum or approximately $58,900. This drastic loss of value has left Bieber’s initial investment diminished by over 94%.

 The Bored Ape NFT series became one of the most sought-after collections, attracting celebrities, influencers, and art enthusiasts alike. A display of his Bored Ape NFT even found its way onto Instagram platform.

It’s worth noting that Bieber’s NFT holdings extend beyond the Bored Ape NFT. He diversified his NFT portfolio, amassing works from various collections such as CLONE X X TAKASHI MURAKAMI, Mutant Ape Yacht Club, Doodles, World of Women, and LIVES of LALISA

 

© 2023 Zenger News.com. Zenger News does not provide investment advice. All rights reserved.

Produced in association with Benzinga

Edited by Suparba Sil and Virginia Van Zandt

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.