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Justin Bieber’s NFT Portfolio Plummets in Price by Above 94%, Dropping from $2 Million to $100,000
Hey there! Have you read about Justin Bieber’s adventures in the world of digital collectibles? Back in 2022, the pop superstar invested more than $2 million in NFTs, only to see their price fall by a whopping 94.7%!
According to details from Arkham Intelligence, Bieber splurged on NFTs after his crypto wallet been given a hefty $2.34 million in Ethereum ($ETH). He snagged 2 Bored Apes Yacht Club (BAYC) NFTs and 2 Mutant Apes Yacht Club (MAYC) NFTs for a cool $1.86 million.
But the pleasurable didn’t quit there. Bieber’s NFT collection also integrated a Globe of Women of all ages NFT, two Doodles NFTs, an Otherdeed NFT, and a Metacard NFT. Unfortunately, all of these digital assets took a strike also, with losses ranging from 89.7% to 97.4%.
Although his wallet however holds a BAYC NFT and a MAYC NFT, their price has shrunk to all around $47,000. However, you will find nevertheless hope – his wallet has just about $500,000 in each ETH and APE.
The all round NFT market has observed a significant correction lately, creating Bieber’s assortment to experience. In spite of his original investments currently being in blue-chip NFTs, the values have dropped across the board.
Just a helpful reminder – a non-fungible token is a electronic asset established by way of tokenization, turning delicate facts into cryptographic facts. Feel of it like transforming your credit score card data into a exceptional string of quantities and letters!
Curious about the heritage of NFTs? Check out our post on Who Invented NFTs? A Temporary Record Of Non-Fungible Tokens
On another note, buyers eager for ETH publicity via ETFs may well deal with a longer wait. Expenditure bank Standard Chartered stays optimistic about the crypto current market, even with the revised timeline for U.S. acceptance of location Ether ETFs.
Prediction markets like Polymarket give a lower likelihood of ETH ETF approval by future thirty day period. Nonetheless, significant crypto investors are nonetheless stashing almost $500 million worthy of of it!
