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
Taylor Swift faces heavy BACKLASH for her sexy new dance moves and lip syncing throughout the whole concert “She’s adding stripper moves to be seen as sexy so Travis won’t get bored and cheat on her, and eventually…”
Taylor Swift injected some spice into her dance routine as she took her Eras tour to Toronto on Thursday. The songstress, 34, added two sexy hip dips…
Mike Tyson BREAK SILENCE on the viral rumor of LOSING to Jake Paul because of MONEY “It’s a big disgrace, and I admit that the truth is…”
Mike Tyson lost a unanimous decision to Jake Paul on Friday night at AT&T Stadium in Arlington, Texas. The fight wasn’t spectacular, but no one in…
NFL: Travis Kelce announced that he’s leaving Elon Musk’s ‘Hate Machine’ X app, Calling it a ‘Toxic waste dump’ after his Scathing and Hurtful comments about Taylor Swift …
In a dramatic turn of events, NFL star Travis Kelce has announced his departure from Elon Musk’s social media platform X (formerly Twitter), following a series…
VIDEO: Patrick Mahomes Issued A Frightening Warning To The NFL After His Chiefs Suffered Their First Loss Of The Season
An undefeated season for the Kansas City Chiefs is over after the team lost to the Buffalo Bills, but that does not worry Patrick Mahomes at all. The 30-21 loss…
VIDEO: Joe Burrow Had Cold One-Word Reaction To Kicker Evan McPherson Costing The Bengals A Win vs. Chargers On ‘SNF’
Joe Burrow had a cold, one-word reaction after a question about Bengals teammate Evan McPherson on the back of a disappointing outing at the SoFi Stadium on Sunday…
REPORT: Chicago Bears Will File Complaint With NFL After Catching The Green Bay Packers Blatantly Cheating During Their Game-Winning Field-Goal Block
The Chicago Bears are not happy about what happened on Sunday at Soldier Field. The Bears lost in heartbreaking fashion for an 11th straight defeat against the Green Bay Packers,…
End of content
No more pages to load
