Justin Biever’s NFT Portfolio Lost Over 94% of Its Value, Gong from $2 Million to $100,000

Justin Bieber's foray into the world of non-fungible tokens (NFTs) took a significant hit as his portfolio's value plummeted by a staggering 94.7%, dropping from over $2 million to barely $100,000.

Back in 2022, the pop superstar invested heavily in NFTs, using over $2.34 million worth of Ethereum to purchase 2 NFTs from the Bored Apes Yacht Club (BAYC) collection and 2 NFTs from the Mutant Apes Yacht Club (MAYC) collection, totaling $1.86 million. However, the value of these investments has since dwindled.

In addition to ape-themed NFTs, Bieber's portfolio included various digital collectibles such as World of Women NFTs, Doodles NFTs, Otherdeed NFTs, and a Metacard NFT. Unfortunately, the value of these assets also experienced significant losses ranging from 89.7% to 97.4%.

Despite the losses, Bieber's wallet still retains one BAYC NFT and one MAYC NFT, which are now worth around $47,000. Additionally, the wallet holds nearly $500,000 in both ETH and APE.

The decline in the overall NFT market, marked by significant corrections in recent months, contributed to the devaluation of Bieber's collection. This downturn affected even NFTs that were once considered blue-chip assets in the digital asset space.

As a reminder, NFTs represent digital assets created through tokenization, converting sensitive data into cryptographic data. While Bieber's NFT investments suffered losses, the volatile nature of the market underscores the risks associated with digital asset investments.

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