The pop star paid $1.29 million for the Bored Ape Yacht Club NFT in January 2022.
Jeff Kravitz / Getty Images for Homecoming Weekend
Justin Bieber’s NFT portfolio has experienced a significant blow, with the pop star losing more than $1 million on the Bored Ape Yacht Club NFT he bought last year.
CNBC reports Bored Ape #3001, which Bieber purchased in January 2022 for 500 ETH ($1.29 million), is now valued at $59,000, or 30.5 ETH. In other words, Bieber’s NFT has lost nearly 95 percent of its initial value.
Twitter: @Dexerto
The news arrives several months after Bieber was among several celebrities named in a class action lawsuit against Yuga Labs Inc.—the cryptocurrency startup behind Bored Ape Yacht Club.
The lawsuit claimed stars like Bieber, Post Malone, Snoop Dogg, The Weeknd, Kevin Hart, and more promoted Bored Ape and other Yuga offerings via MoonPay, a financial tech company that reportedly has ties to Oseary’s Sound Ventures capital firm.
The complaint lists a total of 37 defendants, including Oseary, Yuga Labs and MoonPay executives, Reddit co-founder Alexis Ohanian, NFT artist Beeple, as well as more celebrities like Paris Hilton, Diplo, Future, Jimmy Fallon, Gwyneth Paltrow, DJ Khaled, and Madonna. The plaintiffs allege billions of dollars were generated through the misleading celebrity endorsements and “at no point did any of the defendants register these securities with the SEC.
News
“Guilty as Charged!” – The Chilling First Words of Caitlin Clark’s Alleged Stalker in Court
A jaw-dropping moment has erupted online as a video surfaces showing the first words spoken in court by Michael Thomas Lewis, the man accused of stalking WNBA…
‘No way’ – Sophie Cunningham turns heads with Caitlin Clark-inspired outfit before Indiana Fever go on to lose
WNBA star Sophie Cunningham stunned fans with a Caitlin Clark-inspired outfit before their team’s eventual loss on Sunday. Cunningham, 28, has been in the spotlight since…
Sophie Cunningham slams WNBA referees for not protecting ‘star player’ Caitlin Clark after Indiana Fever bust-up
WNBA star Sophie Cunningham has launched a stunning attack on referees for failing to protect the league’s top talent. The 28-year-old Indiana Fever guard has been dubbed Caitlin…
New Gruesome Slo-Mo Video Shows Close-Up Of Tyrese Haliburton’s Achilles Exploding During Game 7 Of NBA Finals, And It Does Not Look Good
Tyrese Haliburton only had one more game to play this season, and he won’t be able to finish it. In the first quarter of Game 7 against the…
Simone Biles Speaks Out After Slamming Riley Gaines for Her Views on Transgender Athletes
Simone Biles is speaking out again after she slammed Riley Gaines for her views on transgender athletes in sports. Biles, 28, posted a lengthy message on X on Tuesday, June 10,…
Stephen A. Smith blew up the screen by calling Angel Reese a “jealous bully,” exposing her foul play and Caitlin Clark’s teasing. The backlash turned Reese into the WNBA’s new “villain” and fueled the question: Will her career crash before it really takes off?
The burgeoning rivalry between Angel Reese and Caitlin Clark has become a defining narrative of the early WNBA season, carrying the intensity of their college battles into…
End of content
No more pages to load
