Justin Bieber's $1.31m NFT from the Bored Ape Yacht Club collection has fallen 24 times in a year and a half to less than $55,000

Justin Bieber has lost more than $1m in a year and a half on one NFT. The American singer bought a non-interchangeable token from the Bored Ape Yacht Club collection in January 2022. It is now worth 24 times less than that.

Here's What We Know

Justin Bieber paid 500 ETH ($1.31 million) for token number 3001. The same NFT is now worth 29 ETH on the OpenSea platform, about 17 times cheaper. However, with the Ethereum cryptocurrency, the value of the token has dropped by a factor of 24 and now stands at around $54,000.

The Bored Ape Yacht Club collection consists of 10,000 NFTs. There are also images of monkeys for sale worth almost $2 million. The collection also includes dozens of NFTs priced at over $185,000.

Source: OpenSea