JUSTIN BIEBER’S NFT PURCHASE DROPPED IN COST BY OVER $1 MILLION

JUSTIN BIEBER’S NFT PURCHASE DROPPED IN COST BY OVER $1 MILLION.

Over the past 2 years of the incredible NFT boom that we’ve been seeing a lot of art was sod, created and evaluated.

Some worth nothing, a lot worth some and some NFT collectibles worth millions. But turns out what a pop star investor Justin Bieber bought hoping would cost millions dropped in price a lot.

Sometime earlier this year Justin Bieber’s purchased a Bored Ape NFT for $1.3 million in January. It’s now probably worth $70,000, according to NFT Price Floor.

The 95% sudden value decrease in valuation comes after Sam Bankman-Fried’s FTX collapsed and caused crypto prices to crash.

Bored Ape isn’t the sole ethereum-fueled NFT collection impacted by the crypto crash incident caused by some of big name players coming up shorter than expected. .

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SOURCE NEWS: 

https://www.businessinsider.com/justin-bieber-bored-ape-nft-value-dropped-after-ftx-collapsed-2022-11