Justin Bieber’s NFT bought for 1.24 million euros is only worth 66,000 euros

Justin Bieber has obviously also been a victim of the somewhat too rapid craze around NFTs. One of his Bored Ape, which he bought in 2021 for the modest sum of 1.24 million euros, is now valued at 66,000 euros. The direct consequence of the multiple crashes that have rocked the crypto sphere this year.

If you’ve never been directly or indirectly interested in NFTs, there’s still a good chance that the name Bored Ape will ring a bell. These illustrations have long been, and still are to a certain extent, the showcase of the craze that hit the web in 2021. It is these that have snatched a good number of celebrities, including a certain Justin Bieber.

In the midst of the NFT boom, the singer has indeed acquired monkey number 3001 from the collection, for the trifle of 1.24 million euros. Only here it is: the crypto market, and by doing so that of NFTs, is only a shadow of itself at the end of 2022. The year has been particularly tough for investors following repeated crashes, which have each drives the value of digital assets a little further.

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Justin Bieber’s NFT is almost worth nothing

Already in April, the value of Bored Aped #3001 had halved, reaching 414,000 euros. Then, the fatal blow came this week, as the bankruptcy of FTX once again threw the crypto market into panic. Today, Justin Bieber’s NFT is worth “only” 66,000 euros, a loss of 95% of its value. A drop to say the least drastic compared to the price paid just over a year ago.

The singer definitely has reason to regret his purchase since the latter is, moreover, not the only one. A month after acquiring Bored Ape #3001, Justin Bieber also bought a second monkey from the collection, this time for 424,000 euros. Today, it is also worth 66,000 euros. Last June, the NFT of the first tweet in history with already announced the color going from 2.9 million euros to 29 euros.

Source: Decrypt

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