Home / DeveloperSection / Articles / Justin Bieber bought an NFT for more than 1 million dollars. Now it’s only worth $69,000

Justin Bieber bought an NFT for more than 1 million dollars. Now it’s only worth $69,000

Justin Bieber bought an NFT for more than 1 million dollars. Now it’s only worth $69,000

Ragu nath4623 26-Dec-2022

Now they’ve lost their value
Earlier this year the Bored Ape craze was at its peak , and pop star Justin Bieber paid a ridiculous $ 1.29 million for it . a receipt saying that he owns a jpg image of an ugly cartoon monkey .

However, as Decrypt reports , it’s not just the crypto and NFT marketplace development that have crashed in recent months; but even the Bored Apes, once the flagship mascots of this fashion, have been affected. The “floor” price for these jpgs , which is the lowest price you can buy in a collection, hit $ 429,000 in April.

But last Monday, after the FTX crash wreaked havoc on the crypto market (and its NFTs ), that price floor fell below $ 60,000 . For NFT buyers, that’s very bad news; What is less serious for them is that in the following days that “value” has risen slightly again, to settle at $ 69,000 .

Bieber’s jumpsuit, Collection Number 3001 (image above ), was purchased in January. It is one of the apes currently “ valued” at that minimum price of $ 69,000 . This is a pretty drastic drop , around 95%! But his free fall is not entirely because the market fell. Bieber’s own impulses contributed, because even then, at the height of these Bored Apes , other collectors knew that he had overpaid just to get in on this fad:

If you thought that after considering it for a day or two, Bieber may have regretted his purchase, the following month he bought a second Bored Ape, this time for $ 440,000 , which is now also “worth” the price . minimal price.

If you’re a fan (of the musician , not the apes ) and you’re worried about his mistakes, don’t cry for Bieber; the singer is worth over 200 million dollars and could spend $ 1.3 million on an NFT marketplace platform development like you or I would buy a 10 dollar game in a steam sale.

NFTs , also called Non -Fungible Tokens , were sold as the new 2.0. revolution.

Considered unique pieces of digital art , they generated billions of dollars in 2021 , becoming the most applauded, sold and bought items by big stars. In this new speculative fever , Brie Larson , Seth Green or Justin Bieber fell quickly, buying or selling unique digital items. Presently, with the fall of digital forms of money and the analysis of Bill Entryways , many stars of the star systemthey start to perceive how their ventures start to have no worth. Among them, Bieber’s Exhausted Chimp , which arrived at its top toward the start of the year and which the pop star purchased for more than 1.29 million bucks . At this moment, after the monetary breakdown of the computerized market, they are worth close to nothing in correlation.

Justin Bieber’s exhausting jumpsuits are worth close to nothing and the NFT market declines

As verified in Decode , the cryptographic money and NFT marketplace development service is in clear decay. The Exhausted Chimp, who experienced a huge hack a couple of months prior , have gone from being viewed as the leading figures of this computerized framework to being the object of mocking for some clients. They caught on, with people and celebrities paying for them, at their lowest price, for more than $429,000 in April. After the cryptocurrency market crash, all NFT marketplace development service values ​​were affected, and what once cost more than $1.30 million is now worth just $60,000.

Bieber bought the jumpsuit with the collection number 3001, which the article illustrates, and acquired it last January. Now, with a value that has fallen by 95%, the volatility of the system is becoming increasingly clear , an aspect that has led to the ruin of hundreds of thousands of small investors. In some media they point out that it was Bieber’s impulses that also contributed to this speculative and passing fever , because he began to pay excessively for these objects only to enter into this fashion and play financially with these digital pieces. The singer, whose fortune is valued at more than 200 million dollars, has not communicated anything about it.

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