In 2022, Justin Bieber acquired NFTs valued at $2 million, but they've since depreciated to just over $100,000, marking a 94.7% loss, as reported by Arkham Intelligence. Initially, $2.34 million in Ethereum was transferred to the singer's wallet, with $1.86 million used to buy two Bored Ape Yacht Club (BAYC) and a pair of Mutant Ape Yacht Club (MAYC) tokens. The portfolio also includes tokens from collections like World of Women, Doodles, Otherdeed, and Metacard. Since then, asset values have dropped by 89.7% to 97.4%. The wallet currently retains one BAYC and one MAYC, totaling $47,300. NFT trading volumes on Ethereum have drastically decreased since 2022, with weekly volumes dropping from a peak of $510 million in April to $40-60 million, according to The Block. Minimum prices for collection tokens have also seen significant declines. BAYC's minimum price increased to 81.5 ETH in January 2023 but has since fallen to 13.5 ETH, while MAYC's values decreased from ~18.4 ETH to 2.3 ETH. Meanwhile, Ethereum quotes rose from $2400-2600 to $3150 during this period.

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