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Bieber pays $1.3 Million for Bored Apes Yacht Club NFT art

Despite the OpenSea NFT marketplace bug that turned into a fully-fledged BAYC theft, the NFT art collection quickly regained its position and is now being traded with a price floor of more than 115 ETH.

To further solidify the collection’s credibility, another Bored Ape NFT sold for 500 ETH on the 28th of January. Ape number 3001 was bought by Justin Bieber, who appears to be a fan of NFT art. Rumour has it, the famous Canadian singer already has a collection of more than 150 NFT crypto art pieces from almost 50 different collections. According to DappRadar, Justin’s collection was already worth more than $900,000 before the latest addition to his holdings.

A bullish move?

The purchase of this NFT art triggered a wave of discussions on the internet as the floor price at the time of purchase on the OpenSea NFT marketplace was 104ETH. In layman’s terms, this means that Bieber paid 5 times more when he decided to add a Bored Ape NFT to his collection. 

Needless to say, such a move stirred the attention of the public and most importantly, simply because the Ape doesn’t have many rarity attributes. The NFT art piece has a new punk blue background which 12% of all apes have. In addition, the NFT has a black T-shirt, and the ape boasts sad, teary eyes, two big ears, and dark brown fur with an unshaven pouted mouth.

bieber buys bayc nft

Bored Apes Yacht Club NFTs are considered to be the most sought after collection to date. The NFT art collection consists of 10 000 pieces. Each NFT features an ape with different attributes. This digital art series was developed on the Ethereum blockchain, and Yuga Labs, the company that developed and sold these NFTs, is now deemed to be one of the biggest web3 brands with a valuation of $5 billion.

Celebrities vs NFT art

Owning an NFT has recently become a trend among celebrities, so Bieber is not the first famous person to join the Bored Apes Yacht Club. Famous football player Neymar also has his Ape together with the famous rapper Eminem, tennis player Serena Williams and Paris Hilton. 

It seems that with the current hype more and more celebrities will enter the NFT space soon. Right now, being a part of BAYC is considered to be cool. First of all, because it’s expensive and therefore unobtainable by most of the public. Secondly, it’s a thing of hype and prestige, as if converted to plain language, it is like being part of a very exclusive club. It is open to everyone, but as with most things around us, there is a hefty price to pay. And if you plan to become part of the NFT digital art movement, make sure you don’t repeat the mistakes of an art collector who lost $2 million worth of NFTs overnight.

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