• Justin Bieber made an investment of $1.3 million in BAYC, a collection of 10,000 Bored Ape NFTs living on the Ethereum blockchain, 18 months ago.
• His investment has since tanked significantly and is now worth only around $59,000; resulting in a $1.24 million paper loss for Bieber.
• The general cooling down of the NFT market has been cited as the cause for this decline.

Justin Bieber’s Investment In BAYC NFTs

Justin Bieber’s investment strategy with regards to Non-Fungible Tokens (NFTs) seems to have missed the mark as his venture into the hyped digital asset sector during its bull run has resulted in significant losses.

The Investment

Bored Ape Yacht Club NFTs were all the rage last year which prompted Justin Bieber to invest 500 ETH – equivalent to $1.3 million – into them. This collection was created in January 2022 and comprised of 10,000 unique digital collectibles existing on the Ethereum blockchain.

Declining Value Of BAYC

Unfortunately, there has been a drastic decrease in value for these non-fungible tokens as it recently reached its lowest point since October 2021 – dipping below 30 ETH.

Cause Of Decline