NFTs

Justin Bieber Buys a Bored Ape Yacht Club NFT for $1.3 Million

The world-famous singer, Justin Bieber has made one of the biggest purchases in the world of NFTs dropping $1.3 million on a ‘Bored Ape!’ The news comes after Eminem bought a Bored Ape NFT, or an “EminApe,” that looks like him for 123.45 ETH, or $450,000 USD.

Justin Bieber now has Ape #3001, which has a “New Punk Blue” background. The ape persona is shown tearing up, dressed in dark brown fur and a dark grey T-shirt. The BAYC remains the costliest collection of NFTs, having just surpassed a floor price of 100 ETH, thanks to celebrities like the “Peaches” singer, Eminem, and Serena Williams.

Bieber’s purchase is 300 percent more than BAYC’s floor price, which is presently 106.9 ($279,162.31), according to Bitcoin News. Aside from the NFT jargon, this all means Bieber paid a lot more for the NFT than it was worth.

The digital artwork’s details turn out to be not-so-rare, with most features rating in the top 5% of rarity. Of course, the NFT purchase by one of the world’s most famous persons sparked discussion on social media, with some users suggesting Bieber was effectively fined.

According to numerous accounts, digital artwork is not particularly rare, meaning that Justin Bieber spent significantly more than the going rate for an NFT that is in the top 5% of rarity. According to Bitcoin.com, the NFT that Justin purchased had a floor price of 104 ETH, but he ended up paying 500 ETH.

With 114.2 million Twitter followers, Bieber is second only to former President Barack Obama (130.6 million). Bieber’s profile photo is an NFT, and switching it to his just purchased Bored Ape could boost brand awareness for the already popular NFT collection.

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The Content Head at Appy Pie, Snigdha has had a passion for writing since she can remember and feels lucky for making it her career. With a total experience of 11 years, she has dedicated the last 6 years to hard-core content writing and management. She actively writes about all things related to Social Media & more. In her spare time, she would either love to read curled up on the couch or take a bag of necessities (including a good book) and drive off into the sunset.