Pop Star Justin Bieber Buys Bored Ape NFT for $1.29 Million, Pays More Than 300% Above Floor
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Canadian Pop star Justin Bieber made headlines by purchasing an NFT for $1.29 million. The Bored Ape Yacht Club (BAYC) purchase got attention for the price paid versus the estimated market value- the price paid was far above the seller’s floor and market value.
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Bieber Owns Crypto and NFTs
Justin Bieber made it big as a teen singing idol, and his career has risen since. He has adopted cryptocurrency, and recent estimates of his Ethereum holdings are about 343 Ether, valued at about $800,000. In recent years, he has purchased a substantial number of NFTs; reports place his collection at about six hundred NFTs purchased across about fifty groups.
Many Stars Are in On NFTs
Justin Bieber is among a growing group of celebrities that spend on NFTs. Other BAYC owners list NBA heroes LaMelo Ball and Shaquille O’Neill, Linkin Park’s Steve Aoki, and famous Rapper, Eminem. Other notable celebs include Paris Hilton and Travis Barker.
Value Is in the Eyes of the Buyer
Much attention has gone to the price paid for BAYC #3001 versus the estimated market value. It appears that the floor price of the NFT was $208,237, and the price paid was 1.29 million. Although the discrepancies are not known, it is a noteworthy observation on the surface. Perhaps, the value of an NFT is like valuing any type of art; the opinion that matters most is the buyer’s view.
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