Many celebrities have ventured into the hype of non-fungible tokens (NFTs) with the highly popular project called Bored Ape Yacht Club (BAYC). The project started in April 2021 and slowly but surely gained traction in the NFT market. The mint price was 0.08 ethereum (ETH) and in April 2022 the floor price of the collection with about 152 ETH. With the price of ethereum at the time, this was worth just under half a million dollars.
NFT by Justin Bieber
Partly due to the high exclusivity, many celebrities from all over the world have ventured into this NFT collection. For example, some greats such as Madonna, Neymar Jr, Eminem and Post Malone have purchased a Bored Ape. Owning a Bored Ape had become a status symbol. Canadian celebrity Justin Bieber had also joined the infamous Bored Ape Yacht Club in January this year.
Next time you think you’re down bad, just remember that.@Justin Bieber just bought a floor ape for 500 ETH.
— gmoney.eth (@gmoneyNFT) January 29, 2022
Bored Ape #3001
Justin Bieber bought Bored Ape #3001 in the first month of this year for a total of 500 ETH, which was worth a whopping $1.3 million at the time. As you could read earlier in the NFT news, the hype of digital artworks and collectibles has completely washed away in the current bear market. This has caused the collection’s floor price to drop to 58.2 ETH, according to data from NFT Price Floor. This is a total decrease of no less than 88%. The floor price is the price of the cheapest NFT available listed on a marketplace. In dollar terms, the cheapest Bored Ape is currently worth about $69,000. This is, in dollars, a drop of almost 95%.
Justin Bieber’s NFT is ranked number 9,810 among the rarest Bored Apes based on its traits and characteristics, according to data from Rarity Tools. This would mean it would likely sell for rock bottom prices if it weren’t tied to a world-famous celebrity.