Justin Bieber Spent $1.3 Million on NFT

Another star-studded member of the Bored Ape Yacht Club is Justin Bieber. The pop megastar spent $1.3 million on NFT.

Justin Bieber, the pop sensation, acquired a non-fungible token (NFT) from the Bored Ape Yacht Club (BAYC) collection on the major cryptocurrency marketplace OpenSea for $1.3 million in Ethereum (ETH).

Due to the NFT’s lack of unusual characteristics, it had a substantially lower floor price, which is why some Twitter users say that the “Stay” singer was “fined.”

Bieber, who just became the first singer to have 10 chart-topping singles with more than a billion Spotify listens, is far from the first megastar to join the Bored Ape Yacht Club.

Eminem, who joined other superstars like as Steph Curry and Post Malone in purchasing a BAYC NFT for $462,000 in late December. Certain celebrities who attempt to navigate the developing NFT movement become targets of ridicule.

Earlier this week, a terribly embarrassing video of socialite Paris Hilton and talk show presenter Jimmy Fallon flaunting their NFTs in the most unenthusiastic manner conceivable went viral, drawing blistering condemnation on Twitter. Even proponents of cryptocurrencies couldn’t help but find the episode repulsive.

The Bored Ape Yacht Club is a collection of 10,000 distinct photos of cartoon apes that were created as non-fungible Ethereum coins.

Yuga Labs, the company behind the wildly popular NFT collection, is believed to be pursuing a $5 billion value, which would make it one of the most valuable web3 brands.

Walmart and YouTube are reportedly planning to join the NFT frenzy, although there are some prominent naysayers, like Tesla CEO Elon Musk.

Also Read: Meta Files A Brazilian Trademark Application For Crypto-Related Services