Justin Bieber bought a Bored Ape NFT in January for $1.31 million. Today, it’s worth $74,382. The BAYC NFT floor price has fallen 84% from the April peak. Do you think NFTs will ever regain their value?

  • Bored Ape Yacht Club NFTs are sinking in value this month, with the floor price now down 84% from the April peak.
  • Bored Ape Yacht Club NFT prices have fallen considerably in recent weeks.

Musician Justin Bieber bought a common Ape for $1.3 million in January, vastly more than a similar NFT would sell for on the open market today.

Bored Ape Yacht Club hype was in full swing earlier this year as celebrities “aped into” the pricey Ethereum NFT collection. Some have even used their Apes to create products, themed restaurants, live performances, and more.

But the buzz has faded amid the crypto bear market, and the price to the exclusive club has been dropping lower and lower in recent weeks. And a “floor” Bored Ape, like the one that singer Justin Bieber spent $1.3 million worth of ETH to buy in January, now sells for a tiny fraction of that price point.

Full article: https://decrypt.co/114718/justin-bieber-bored-ape-nft-now-69k

Justin Bieber bought a Bored Ape NFT in January for $1.31 million. Today, it’s worth $74,382. The BAYC NFT floor price has fallen 84% from the April peak. Do you think NFTs will ever regain their value?

15 thoughts on “Justin Bieber bought a Bored Ape NFT in January for $1.31 million. Today, it’s worth $74,382. The BAYC NFT floor price has fallen 84% from the April peak. Do you think NFTs will ever regain their value?”

  1. That’s actually not too bad given ETH is down like 75%. Bored Apes are the staple of ETH NFTs and they will be around forever. They are originals and because of that they have value. We’re in a global recession so people don’t have extra cash to spend on NFTs and new potential projects. Come back in a couple years when things have cooled off and Bored Apes along with everything else will be right back with it

  2. Didn’t he massively overpay even at the time? Like the floor for a pretty bland bored ape was say $400k and he still went and spent $1.31m on what was essentially a (close to) floor Ape?

  3. As stupid jpeg’s, no. As proof of ownership for items both real world and digital, absolutely.

  4. All these exist as proof of concepts.

    Now, how said concept will have any viable functionality outside of “web3.0” is completely up for debate.

    Personally, I don’t think it ever catches on in the way the players in the game now hope it will.

    It’s a future that literally no one was asking for.

  5. no, NFTs are dumb. they were the perfect market top indicator for me though. much like ICO’s were in 2017. getting pretty good at this buy low sell high thing. i’m only just now starting to throw some money back into crypto.

  6. This post and the writings are completely stupid and retarded. He didn’t buy shit. He was sent the ethereum to purchase the nft to make it look like a sale. Sure its worth whatever it is now, but he didn’t lose anything. He actually made money because they paid him extra eth for the promotion.

  7. Always trust your first impressions. My first impression of him was… that he was an idiot. So were my second, third… and every impression after that. Enjoy your jpg… idiot.

  8. If it was from moonpay he didnt actually pay for it.. that was all publicity stunts with celebrities

  9. No. They’re stupid. Also I hate that Bored Ape Yacht Club NFTs promote naziism and basically show that dumbfucks with tons of money will buy anything! (Also what is up with Justin Bieber’s shitty mustache?? That’s about the stupidest idea since he teamed up with Kanye West to root for and enable Marilyn Manson after Manson faced rape charges!!)

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