Justin Bieber’s $1.3 Million Bored Ape NFT Is Now Only Worth $69K
Justin Bieber’s $1.3 Million Bored Ape NFT Is Now Only Worth $69K!
Arguably the biggest NFT project in the world has been seeing its floor price drop immensely this past year and no one is safe from its currently sinking price.
Justin Bieber’s Bored Ape
Earlier this year in January, pop star Justin Bieber made a lot of buzz within the Web3 community after he had bought a Bored Ape NFT for way more than it’s actual selling price.
The Ape in question was Bored Ape #3001, a floor price level ape with no special traits whatsoever which Bieber had bought for 500 ETH, or around $1.3 million at the time.
Justin Bieber spent $1.3 million on this Bored Ape NFT in January, Today it’s worth $74k.
What do you think, will NFTs make it ? pic.twitter.com/vCSONDZifU
— MrBanks🔺🦀💰 (@Mrbankstips) November 17, 2022
However, since the height of NFT prices earlier this year, both crypto prices as well as the floor price for multiple NFT projects have collectively fallen by quite a lot.
So much so in fact, that Justin Bieber’s floor-priced Bored Ape NFT is now only worth around 58 ETH, or around $69,000.
Related: Bored Ape (BAYC) Price Sink To The Lowest It’s Been In A Year!
BAYC’s Dropping Floor
Despite being called the biggest NFT project in the world, Bored Ape Yacht Club, or BAYC has been seeing its floor price drop by quite a lot these past months, with the floor now only being around 50 ETH after previously trading for around 100 ETH at minimum early January.
In fact, just earlier this week BAYC’s floor had even managed to sink to a price of 48 ETH, or around $63,000, touching the lowest it’s been since 2021.
It’s not just BAYC though, multiple other NFT projects including big blue-chip collections have been seeing their current floor prices tank in comparison to their prices earlier this year.
Bluechip collection Azuki for example is currently only trading for around 9.74 ETH, despite having traded for high prices of 27 to 29 ETH this April. The Moonbirds collection has also been seeing its floor price sink from high prices of 34 ETH in May to currently trading at a floor of 7.25 ETH.
Related: Cristiano Ronaldo Partner with Binance to Launch Its First NFT Collection
One of the biggest contributors to these sinking NFT prices could be related to both the macroeconomy as well as the current crypto winter that’s still taking place. Cryptocurrencies have been seeing their prices tank this past year due to multiple reasons including the macroeconomy, which has continued to cause more uncertainty within the Web3 community.
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