Justin Bieber purchased a Bored Ape NFT for $1.3 million that's now worth $70,000. Justin Bieber's bought a Bored Ape NFT for $1.3 million in January. It's now probably worth $70,000, according to NFT Price Floor. The 95% drop in valuation comes after Sam Bankman-Fried's FTX collapsed and caused crypto prices to crash.
Why did Justin Bieber buy an NFT?
While Bieber never specified why he purchased an NFT, some critics speculate that celebrities buy NFTs as a status symbol, a way to flaunt their wealth and exclusive purchases. Talk show host Jimmy Fallon, model Paris Hilton, and rappers Snoop Dogg and Eminem also own Bored Ape NFTs.
Did Justin Bieber buy bored ape Yacht Club NFT?
Pop star Justin Bieber started off the year purchasing his first Bored Ape Yacht Club NFT for 500 ethereum, a blockchain currency, equivalent to $1.3 million.
