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Justin Bieber’s Bored Ape NFT, Which He Bought for $1.3 Million, Is Now Almost Worthless

Sometimes, it’s almost as if Justin Bieber is set on making it easier for the world to laugh at him. The Bored Ape he bought at the beginning of the year, and which he made sure to brag about buying on social media, is now comparatively worthless.
Justin Bieber's Bored Ape, bought for $1.3 million and currently valued at $70,000 28 photos
Photo: Instagram / Justin Bieber
Justin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber's floating Rolls-Royce is called Uriel: The Light of GodJustin Bieber takes delivery of his floating Rolls, is moved to tears by how it looksJustin Bieber takes delivery of his floating Rolls, is moved to tears by how it looksJustin Bieber takes delivery of his floating Rolls, is moved to tears by how it looksJustin Bieber takes delivery of his floating Rolls, is moved to tears by how it looksJustin Bieber takes delivery of his floating Rolls, is moved to tears by how it looksJustin Bieber takes delivery of his floating Rolls, is moved to tears by how it looksJustin Bieber takes delivery of his floating Rolls, is moved to tears by how it looks
Cryptocurrency was a gamble from the start, with even the most optimistic analysts noting its instability and lack of regulation. For critics, it was nothing short of a pyramid scheme, one in which public figures and celebrities rushed to take part in – and then bragged about it. At the same time, NFTs (non-fungible tokens), which are acquired with crypto, became status symbols and were hailed the future of modern art.

No other digital art collection was as highly valued and coveted as the Bored Ape Yacht Club (BAYC). Bored Ape is perhaps the most successful NFT collection to date, including over 10,000 NFTs of the same monkey in various clothes and wearing different facial expressions, some custom-made and others part of production series. At its highest, BAYC works were valued at more than $1 billion in total.

Justin Bieber accounted for $1.3 million of that. In January this year, he bought himself a Bored Ape in what became one of the most expensive NFT deals – and also a very controversial one. This was the kind of money offered for a custom Bored Ape, but Bieber’s wasn’t one, so it was worth around $210,000.

As if it wasn’t enough that he grossly overpaid for his Bored Ape, Justin is now having to suffer ridicule once more, since it’s now worth $70,000. The 95% drop in valuation is due to the fall of FTX this month, the largest and widely considered most transparent crypto exchange market, Business Insider reports.

Granted, considering the slew of celebrities that have bought into the NFT craze by acquiring a Bored Ape, Bieber isn’t the only one affected. But the fact that he was so eager to brag about it on social media makes him the easiest target for ridicule.

The Bored Ape Yacht Club included clients like Paris Hilton, Eminem, Gwyneth Paltrow, and Reese Witherspoon, while other A-listers opted for other NFT artworks. FTX itself was backed by the likes of Tom Brady and Gisele Bundchen and even Larry David.

As the saying goes, the higher the climb, the higher the fall.

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Editor's note: Photos in the gallery show Uriel, Justin Bieber's custom, "floating" Rolls-Royce.

About the author: Elena Gorgan
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Elena has been writing for a living since 2006 and, as a journalist, she has put her double major in English and Spanish to good use. She covers automotive and mobility topics like cars and bicycles, and she always knows the shows worth watching on Netflix and friends.
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