Justin Bieber’s Bored Ape NFT drops 99% from $1.3M to $12K
Crypto Briefing
Justin Bieber's Bored Ape NFT, bought for $1.3 million, has plummeted in value to about $12,000, marking a 99% loss.Summary
Justin Bieber's Bored Ape NFT (#3001), purchased for 500 ETH (about $1.3 million) in early 2022, has seen its value collapse to approximately $12,000, representing a 99% loss on his investment. Bieber reportedly overpaid significantly for the asset, as comparable NFTs were trading for much less at the time of his purchase. Currently, the Bored Ape Yacht Club (BAYC) floor price is around 6.15 ETH, translating to substantial dollar-denominated losses for investors who bought during the 2022 peak. While the speculative bubble has burst, leading to sharp declines in trading volumes and floor prices, the NFT sector is reportedly shifting focus toward utility-based applications rather than pure speculation.
(Source：Crypto Briefing)