Celebrities often venture into unusual areas in search of innovation. For Justin Bieber, non-fungible tokens [NFTs] space has become a captivating quest. Even though the journey started strong, the volatile nature of the market turned it into a cautionary tale. Justin Bieber’s NFT portfolio, once valued at over $2 million, is now languishing at a measly fraction of just over $100,000.
Arkham Intelligence, a leading blockchain analytics provider, revealed this slowdown. The report highlights how the Canadian pop sensation generously spent over $2 million on NFTs in 2022, only to see their value decline significantly over time. Bieber’s Arkham portfolio now contains a sum, with assets valued at less than $500,000, a far cry from his substantial initial investment.
Also Read: How Much is Justin Bieber’s $1.3 Million BAYC NFT Worth Today?
Take a look at what went wrong
The NFT boom has attracted a wide range of individuals to the market. Ownership and authenticity of unique digital objects is a defining trend. From art to virtual real estate, these assets have captivated investors, collectors and artists. Justin Bieber jumped into this pool in 2022. He then explored collections like Mutant Apes, World of Women, Otherdeeds, Bored Apes, Metacards and Doodles.
Bieber acquired two mutant monkeys as well as two bored monkeys. These were collectively worth approximately $1.86 million. Even though she was promised potential market returns, the pop star’s NFT investments were not immune to the bear market. This further resulted in a substantial drop in value.
Bieber’s NFT portfolio has fallen almost 95% since its initial valuation. According to Arkham’s findings, Bieber’s portfolio currently includes a Lonely Bored Monkey and a Lonely Mutant Monkey, both of which are now worth a fraction of their original purchase price.
Also Read: Justin Bieber’s $1.3 Million Bored Ape NFT Is Worth $59,000 Today
