Justin Bieber might be iconic on stage, but his investment strategy, at least in terms of NFTs, certainly missed the mark. The famous Canadian pop star paid $1.3 million for a Bored Ape NFT last year, which is now worth only around $59,000.
Foraying the hyped NFT space during the digital asset bull run seemed like a lucrative and exciting addition to many celebrities’ investment portfolios. However, many who sang the praises of these non-fungible tokens have not managed to steer clear of the troubles that followed.
Justin Bieber’s NFT Losses
Bieber’s tryst with NFTs dates back to January 2022, when the sector was raging with celebrity endorsements. The global pop star invested 500 ETH, which was equivalent to $1.3 million, on BAYC. Eighteen months later, his net paper loss stands at $1.24 million.
Justin Bieber spent over $1.3 million on this NFT last year
It is currently worth $59,000 pic.twitter.com/LwdNkLyRZU
— Dexerto (@Dexerto) July 3, 2023
BAYC is a collection of 10,000
We współpracy z: https://cryptopotato.com/justin-biebers-bayc-investment-turns-sour-as-paper-losses-mount-to-1-24-million-in-18-months/
