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?