Justin Bieber’s $1.3 Million USD Bored Ape NFT Is Now $69K USD

The USD $1.3 million of Justin Bieber Now, Bored Ape NFT Is Only Worth $69K in USD

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Celebrities jumped on the bandwagon to obtain their own NFT early this year, while the cryptocurrency market was flourishing and the Bored Ape Yacht Club buzz was in full gear. Later, the expensive collection attracted enough people to launch its own themed eateries.

The gloom among NFTs, especially the secretive Bored Ape group, has faded as the cryptocurrency market turns negative. Global music sensation Justin Bieber purchased Bored Ape #3001 in January for 500 ETH, which was equivalent to $1.3 million USD (the initial floor price). At around 52.8 ETH, or roughly $69,800 USD, the current floor price for the BAYC NFT is listed much below the initial market price. The floor price fell below $60,000 USD following the FTX fall, and it then increased marginally to $69,000 USD. The crash sent shockwaves across the cryptocurrency market.

The current floor price for Bieber’s ape #3001 is $69,000 USD, a 95% decrease from the NFT’s original purchase price. The month after he acquired #3001 in January, he spent $444K USD on another BAYC NFT, which is now likewise worth the floor price. At the time, NFT enthusiasts claimed that because Bieber’s #3001 was an NFT without any unique characteristics, it was over overpaid. Based on its attributes, it is listed as the 9,810th rarest Bored Ape. The Bored Ape floor price peaked in late April, just before the cryptocurrency market fell, at over $429,000 USD. Trade volume is at an all-time low on the NFT market as a result of the cryptocurrency crisis.

In case you missed it, FTX endorsers Shaq, Tom Brady, Steph Curry, and others were charged with misleading investors.

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