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
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