Justin Bieber's $2 Million NFT Now Worth $100,000, According to ARKAM

IconCrypto News Terminal24 Apr, 2024

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Justin Bieber's $2 Million NFT Now Worth $100,000, According to ARKAM

Justin Bieber's Bored Ape Yacht Club (BAYC) NFT, which he purchased for $1.3 million in January 2022, is now worth approximately $100,000, according to data from ARKAM. This represents a significant decrease in value for the NFT, which was once considered to be one of the most valuable in the world. ARKAM, a leading provider of crypto market data, estimates that the current floor price for BAYC NFTs is around 69 ETH, or approximately $100,000. This is a far cry from the peak price of 153 ETH, or $470,000, that BAYC NFTs reached in April 2022. The decline in value of BAYC NFTs is likely due to a number of factors, including the overall bear market in cryptocurrencies, the rise of new NFT projects, and the increasing number of Bored Ape Yacht Club NFTs available for sale. Despite the decline in value, BAYC NFTs remain one of the most popular and sought-after NFT projects in the world. They are often used as profile pictures on social media and are considered to be a status symbol among crypto enthusiasts.

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