🎨💥 Justin Bieber’s $1.3M NFT Bet — A Brutal Lesson in Hype Cycles

In Jan 2022, Justin Bieber became one of the most high-profile faces of the NFT boom after paying 500 ETH (~$1.3M) for Bored Ape #3001 🐒

The catch?

It wasn’t rare.

No standout traits.

A pure floor Ape — even at peak hype.

That alone raised eyebrows across the NFT space 👀

⏳ Fast-forward 4 years…

Estimated value today: ~$12,000

Implied loss: ~99% 📉

Celebrity premium? Didn’t save it

Comparable Bored Apes with similar traits collapsed just as hard, showing fame alone isn’t enough when liquidity disappears.

🚀 Context Matters

When Bieber bought:

NFT hype was still accelerating

BAYC floor prices later peaked near $429K (April 2022)

Beeple’s $69.3M NFT sale was still fresh in everyone’s mind

This wasn’t an isolated buy — it was peak mania.

❄️ Then Came the NFT Winter

BAYC, CryptoPunks, Pudgy Penguins → all sharply down

Floor prices that once touched six figures evaporated

Prediction markets show low confidence in a near-term recovery

🧠 What Survives the Crash?

Despite price destruction, Yuga Labs is still building:

🏙️ Real-world BAYC clubhouse (Miami)

🌐 Ongoing development of Otherside metaverse

But the market has spoken:

👉 Hype is temporary

👉 Liquidity is everything

👉 Celebrities don’t stop drawdowns

📌 NFTs didn’t die — but blind speculation did.

#NFTs #BAYC #CryptoHistory #MarketCycles #Web3 #BinanceSquare