๐น Justin Bieber bought a #BoredApe NFT in Jan 2022 at the NFT craze peak, paying 500 ETH ($1.3M).
๐น The NFT market declined significantly, and Bieber's #NFT is now worth around $70K, resulting in a loss of over $1.2M.
๐น Bieber likely intended to profit from the resale, but the demand for Bored Ape NFTs has dwindled.
๐น Factors contributing to the decline include the overall cryptocurrency market slump and increased regulatory scrutiny.
๐น Some experts believe #NFTs could be a passing trend.
๐น The Bored Ape NFT (#3001) is one of 10K unique NFTs created by Yuga Labs, known for randomly generated traits. $APE
๐น Celebrities like Snoop Dogg and Eminem have also purchased Bored Ape NFTs.
๐น The floor price for Bored Ape NFTs dropped from around $300K in Jan 2022 to $60K. #JustinBieber
๐น The future recovery of Bored Ape NFT values remains uncertain.
๐น Bieber's purchase of the Bored Ape NFT has proven to be a costly mistake.
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