In January 2022, Justin Bieber purchased Bored Ape #3001 for 500 ETH, valued at $1.3 million. The NFT’s current estimated value is about $12,000 due to declining NFT and Ethereum values.
Common Bored Apes reached a floor price peak of $429,000 in April 2022.
Bieber’s ape was considered a “floor” Ape at purchase.
Other NFT collections such as CryptoPunks and Pudgy Penguins have also seen dramatic value decreases.
A prediction market estimates only a 16% chance of recovery for top NFT projects by July.
Yuga Labs is developing a real-world clubhouse and “Otherside” metaverse game.
