Justin Bieber's NFT was once worth millions but now it's barely a fraction of that

During the wild craze that was dubbed the next Bitcoin, Justin Bieber once bought a ‘Bored Ape’ NFT for millions of dollars – but fast forward four years, and it’s almost worthless.

In a bid to recreate the Bitcoin boom that has made common tech gurus into billionaires, we’ve had schemes like Dogecoin, Metaverse tokens, and NFTs.

The latter might be one of the biggest currency collapse stories we’ve had since Wall Street, though, as ultra-wealthy people poured a lot of money into these avatar-like mascots.

One of those was Justin Bieber, who bought Bored Ape Yacht Club for $1,301,550 in January 2022, but it’s now worth less than what it costs to get an oil change in his cars.

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The $1.3M NFT owned by Justin Bieber is now worth less than a Nissan Versa

Although Ferrari is trying to revive NFTs, the cryptocurrency fell flat on its face shortly after booming in 2022.

Justin Bieber bought the third-most expensive NFT ever owned by a celebrity, paying $1,301,550 for the Bored Ape Yacht Club, expecting it to become increasingly rare and an investment for the future.

However, in one year, it lost 95 percent of its value.

Now, it’s over 99 percent, as current NFT rates suggest that the BAYC avatar is worth just $12,000 today.

That’s about as much as a one-year-old Nissan Versa, slated as America’s most affordable car.

But it’s not just Bieber whose money has been lost to the NFT scene, as millions of online tokens are now worth pennies on the dollar.

The designers, Yuga Labs, were even sued for using celebrity endorsements, like Justin Bieber, in order to convince others to begin investing in the scheme.

The claimants believe these celebrities were hired to ‘artificially inflate and distort the price’ of Bored Ape Yacht Club NFTs.

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Which other celebrities lost out on the boom?

Justin Bieber wasn’t the biggest loser, though, only taking the bronze medal here, as Snoop Dogg set the bar for celebrities with a $7 million purchase of ‘Right Click and Save As guy’.

Snoop’s token is worth $60,000 today, although his investment did reap rewards with a recent collection based on the celebrity, managing to raise $12 million.

Gary Vaynerchuk’s $4 million CryptoPunk token was the runner-up, now worth less than $50,000.

Other celebrities such as Neymar Jr., Madonna, Eminem, Logan Paul, and Tom Brady all lost hundreds of thousands of dollars.

It really was a huge investment blunder for everyone, all of whom could have had a similar fate to this Bitcoin investor if they chose the right pot to grow their money in.

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