But today, prices for Bored Ape Yacht Club NFTs, one of the most popular collections, has crashed to a two-year low.
Take one Bored Ape NFT owned by Justin Bieber, for example: It has declined in value by about 95% over the past year and a half.
In January 2022, the Grammy award-winning music artist entered the world of NFTs by allegedly dropping 500 ETH (around $1.3 million at the time) on Bored Ape #3001, an NFT belonging to Yuga Labs' Bored Ape Yacht Club (BAYC) collection.
But as of July 2023, Bieber's Bored Ape is only worth around $59,000, according to Bitcoinist.
Basketball star Stephen Curry purchased Bored Ape #7990 for 55 ETH (nearly $180,000 at the time) on Aug. 28, 2021.
Persons:
Justin Bieber, Stephen Curry, Madonna, It's, Bieber, Curry, DappRadar's, Warren Buffett
Organizations:
Labs, ETH, Los Angeles Times
Locations:
That's