2021 saw a surge in interest from celebrities in the world of NFTs, with Justin Bieber’s perspective on NFTs also drawing attention. Recent reports indicating a decrease in the value of his investments have shown significant declines. According to data presented by Arkham Intelligence, Bieber’s NFT purchases in 2022, which amounted to $2 million, have now decreased by about 95% in value.
Justin Bieber’s Wallet
Justin Bieber’s decline in his NFT-linked portfolio is clearly evident from the NFTs he purchased. Initially, Bieber added $2.34 million worth of Ethereum (ETH) to his wallet, spending $1.86 million on Bored Apes and two Mutant Apes.
Additionally, he invested in the World of Women token, two Doodles, one Otherdeed, and a Metacard, all of which experienced price drops ranging from 89.7% to 97.4%.
Despite these losses, a look at Bieber’s wallet shows that the value has not completely disappeared, currently creating a value just under $500,000 with Ethereum (ETH) and APE tokens.
Particularly in Bieber’s wallet, one Bored Ape and one Mutant Ape are visible, with their total values having dropped to nearly $47,300. Whether Bieber has hit rock bottom remains a big question.
Celebrities’ Perspectives on NFTs
The participation of celebrities in cryptocurrencies towards the end of the 2021 bull run drew significant attention and increased public interest in cryptocurrencies.
During that period, figures like Eminem, Justin Bieber, and Future made purchases from NFT collections led by Bored Apes and started using symbols like laser eyes on their social media avatars, which brought dynamism to the market.
Moreover, the significant downturn in the crypto market led these individuals to make major changes to their investments.
Bitcoin‘s price hit a low towards the end of 2022, but it subsequently recovered sharply, increasing by over 400%. Despite reaching all-time highs, the market has not yet returned to the conditions of 2021.
Bieber’s experience serves as a poignant example of significant losses in NFT investments, despite recent recoveries in cryptocurrency prices.
