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Justin Bieber's Bored Ape NFT crashes: from 1.3 million to just $12,000
Justin Bieber’s Bored Ape NFT story offers a striking example of the extreme volatility that characterizes the digital asset market. What was once a prestigious investment has turned into a costly lesson on the risks of speculative bubbles.
A spectacular investment in BAYC
In January 2022, Justin Bieber positioned himself among celebrities embracing NFTs by purchasing a Bored Ape Yacht Club for $1.3 million. This transaction, shared on social media by influencers like Crypto Rover, illustrated the massive enthusiasm of stars for digital tokens at that time. The NFT market was then at its peak, with prices completely detached from any fundamental economic reality.
The sudden collapse of the NFT market value
Since that prosperous period, the landscape has changed dramatically. The same Bored Ape NFT owned by Justin Bieber is now worth around $12,000, representing a staggering drop of over 99% in value. This spectacular plunge reflects the overall collapse of the non-fungible digital assets sector.
This severe decline demonstrates how speculative values can vanish as quickly as they form. For Justin Bieber, as for many other NFT investors, this experience highlights the dangers of unsustainable overvaluation. Today, the NFT market is striving to rebuild on more stable foundations, far from the frenzy of 2021-2022.