Justin Bieber’s $1.3 Million Bored Monkey Price Drops 98% as BAYC NFT Floor Price Drops

Justin Bieber's $1.3 Million Bored Monkey Price Drops 98% as BAYC NFT Floor Price Drops

Lots of people from the entertainment industry have been avidly accustomed to Bored Apes Yacht Club NFTs over the past couple of years. Now the most successful NFT pool of all seems to be fading away, as the BAYC exclusive club plunges into the ongoing crypto winter.

Canadian pop star Justin Bieber is among those celebrities who jumped aboard the Bored Ape NFT train in his prime. The singer spent $1.3 million on a boring, sad-looking monkey with very basic features in January. According to current estimates, the miserable, teary-eyed Bieber Monkey is worth about $74,000 just because of Dramatic decline At the price of NFT on the Bored Apes floor.

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The glory of the bored monkeys yacht club has faded

according to NFT Price FloorBored Apes Yacht Club entry price is 58.1819ETH. NFT price floor It fell to its lowest level since May 22, 2022, when the Terra-affected cryptocurrency market was in a state of extreme panic. On that day, the price of the minimum NFT dropped three times, from 152 Ethereum (ETH) to 50 ETH and only 14 sales in a 24-hour period. On top of that, Justin Bieber got his bored monkey under the weather For a whopping 500 Ethereum (ETH).

This hype was in part due to Yuga Labs Otherdeed metaverse launch. Blockchain players flocked to test groundbreaking visuals and new utilities for their beloved BAYC NFTs. However, the hype quickly died down when Terra (LUNA) and Terra (UST) decryptors set the entire crypto industry on fire. This is also evident in Yuga Labs’ native cryptocurrency, ApeCoin, which had its moments of brilliance in April.

ApeCoin (APE) was priced at $23.63 on April 29, 2022. It has shrunk nearly 10 times since then. At the time of publication, the original Bored Apes NFT cryptocurrency At $2.86, indicating another 2.8% in the red over the past 24 hours. Currently, the Bored Apes NFT group has to face deflationary music again Unexpected and intense FTX breakdown.

on the flip side

Why should you bother

Yuga Labs, the company behind the most successful NFT kit ever, was valued at $4 billion at the start of the year. With so many NFT and metaverse projects underway, Yuga Labs has managed to spread hash adoption faster than most. Celebrities like Snoop Dogg, Eminem, and Seth Green have become their ambassadors.

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