It all began in January 2022, when pop-sensation Justin Bieber made an investment that few could imagine was going turn out as sour as it did. The Bored Ape NFT he contributed 500 Ethereum (ETH) for, valued at $1.31 million during the peak of the NFT craze, witnessed a huge, nearly 95-percent reduction in worth, leaving the 29-year-old “Baby” singer with just $58,900 in his investment – a loss of $1.2 million.
Growing in popularity, the Bored Ape NFT had become one of the world’s most sought-after series from famous art maniacs to routine celebrities and Instagrammomers alike. Unification of investors of all stocks were keen on flaunting their Bored Ape NFTs on social media.
Following his loss, Bieber augmented his NFT reserves with other collections including CLONE X – X TAKASHI MURAKAMI, Mutant Ape Yacht Club, Doodles of the World of Women, and LIVES of LALISA. However, these alternatives did not save him from an immense deficit.
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