Key Highlights:
- Since Justin Bieber bought Bored Ape #3001 NFT in January 2022, its USD worth has decreased by 94%.
- Bieber is among prominent figures, such as Logan Paul, whose NFTs have seen a dramatic fall in value after being purchased.
- According to recent research, most NFT owners currently maintain them in the hopes that they may be helpful at some point.
As celebrities “aped into” the expensive Ethereum NFT collection earlier this year, the Bored Ape Yacht Club buzz was in full force. Some people have even produced merchandise, themed restaurants, live shows, and other things with their apes.
However, the hype has subsided with the weak cryptocurrency market, and in recent weeks, the cost to join the elite club has been steadily declining. A “floor” Bored Ape like the one singer Justin Bieber purchased in January for $1.3 million in ETH is now available for a small fraction of that cost.
Other celebrities who were impacted
Among the notable persons with significant unrealized losses on their NFT investments is the YouTube star Logan Paul, the well-known artist Eminem, and the Brazilian soccer legend Neymar.
Paul jumped on board in 2021 and paid $623,000 for a piece from the Azuki collection. However, he recently admitted that his investment is only worth $10.
Eminem, the first rapper to have ever won an Oscar, purchased Bored Ape 9055 in January for 123,45 ETH (about $462,00 at the time). Now, the price of his computerized monkey is about $70,00.
