Beiber didn’t spend a penny on this. It was just a big circular trade to promote NFTs, I’m sure he got some fee for his involvement.
CaligulaCan on
Imagine.
coinfeeds-bot on
tldr; Justin Bieber purchased a Bored Ape Yacht Club NFT for $1.3 million in January 2022, but its value has since plummeted to around $12,000. The NFT, lacking rare attributes, was criticized even at the time of purchase. The broader NFT market, including collections like CryptoPunks and Pudgy Penguins, has seen significant declines in value during a prolonged downturn. Despite this, Yuga Labs, the creator of Bored Ape NFTs, continues to develop projects like a Miami clubhouse and a metaverse game to support the collection.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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Correction: it was always worth zero.
Beiber didn’t spend a penny on this. It was just a big circular trade to promote NFTs, I’m sure he got some fee for his involvement.
Imagine.
tldr; Justin Bieber purchased a Bored Ape Yacht Club NFT for $1.3 million in January 2022, but its value has since plummeted to around $12,000. The NFT, lacking rare attributes, was criticized even at the time of purchase. The broader NFT market, including collections like CryptoPunks and Pudgy Penguins, has seen significant declines in value during a prolonged downturn. Despite this, Yuga Labs, the creator of Bored Ape NFTs, continues to develop projects like a Miami clubhouse and a metaverse game to support the collection.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.