Justin Bieber’s $1.3M Bored Ape NFT now worth $12K

Justin Bieber's Bored Ape NFT, bought for $1.3M in 2022, is now worth just $12K—a 99% loss—mirroring the sharp downturn in NFT and Ethereum markets and criticism over the purchase price.

In January 2022, Justin Bieber purchased Bored Ape Yacht Club NFT #3001 for 500 ETH, equivalent to about $1.3 million at the time. Despite being a common NFT within the collection, Bieber paid a significant premium, which drew criticism from the NFT community. Since then, the value of his Bored Ape has dropped dramatically to around 6 ETH, or roughly $12,000—a staggering 99% loss. This sharp decline reflects the broader downturn in both the NFT and Ethereum markets, with floor prices for major collections like Bored Apes, CryptoPunks, and Pudgy Penguins falling significantly. While some speculated that Bieber's celebrity ownership might boost the NFT's value, similar assets have also experienced steep declines. Despite the market slump, Yuga Labs, creators of Bored Ape Yacht Club, continue to innovate with new projects, including a physical clubhouse and a metaverse game featuring NFT avatars.