Non Fungible Tokens Are Taking Over: How Justin Bieber Is Shaking The NFT Space To The Tune Of Millions Of Dollars

edwin@geniux.co.za Edwin Bapela
Justin Bieber is now the owner of two Bored Ape Yacht Club NFTs and one of the few celebrities that own more than one of the popular non-fungible tokens. Here’s how Bieber is impacting Bored Ape Yacht Club positively.

How it all started: Justin Bieber made headlines on the 29th of January 2022 with the purchase of several various NFTs including the popular Bored Ape Yacht Club #3001.

Justin Bieber coughed up 500 Ethereum (ETH) for the Bored Ape, or around $1.3 million. Many questioned the large price tag given this particular Bored Ape not being the rarest and ranking as the 9777th rarest of 10,000.

The floor price of Bored Apes hit new highs days after Bieber’s purchase, with the price rising to 115 ETH to 118 ETH.

Bieber’s Ape purchase marked the seventh-highest amount paid for a Bored Ape in ETH, according to OpenSea.

Since Bieber’s purchase, several large sales followed in on other rarer Apes, which could be attributed to the continued interest in the well-known NFT collection and also possibly to the willingness by a global icon and celebrity to spend such a high amount on an Ape based on traits.

  

Big Sales: Bored Ape #232 was purchased for 1080.69 ETH ($2.8 million) on LooksRare, setting a new record for the collection. The Ape is ranked as the 503rd rarest in the collection and contains the Solid Gold Fur trait found on 0.46% of all Apes, or 47 total.

The Ape set a record for ETH paid, but came in just shy of the record $2.9 million paid for Bored Ape #3749 at a price of 740 ETH at the time.

Prior to Bieber’s purchase, there had been six sales for 500 ETH or more on OpenSea, and they had all took place four months or five months ago.

In addition to the 1080.69 ETH paid for the rare gold fur trait Ape, two other Apes with this trait were part of 800 ETH purchases in package deals that included other NFT assets.

While many celebrities have already purchased Bored Apes and other various NFTs, Justin Bieber’s massive social media following and influence shouldn’t be underestimated not even by a bit. Bieber has the second largest number of followers on Twitter with 114 million, trailing only former United States President Barack Obama.

On Instagram, where Justin Bieber showed off his Bored Ape together with song lyrics, he has a whooping 219 million followers, ranking in the top ten of all users on the Meta Platforms.

inBetweeners, which is the NFT featured as Justin Bieber’s profile picture on Instagram and Twitter, has seen its price surge as more people check out some of the the NFT collection owned by him and his social media profiles.

Bieber snaps Second Bored Ape: The news popped out that Justin Bieber bought himself a second Bored Ape Yacht Club, apparently forking out 166 ETH or around $448,000 for the Bored Ape #3850.

This second Bored Ape Bieber acquired is ranked as the 1385th rarest Ape on Rarity Tools.


Bored Ape #3850 has the following traits:

Purple Background (13%)

Pink Fur (5%)

Puffy Vest (2%)

Bored Eyes (17%)

Bandana Blue Hat (0.89%)

Grin Diamond Grill Mouth (0.78%)

This second purchase by Bieber is much more rarer and contains two traits found in less than 100 of the 10,000 Bored Apes.

With celebrities, crypto fanatics and top investors focusing more on rare traits instead of just hoarding in at the floor price, Bored Apes could see the average price paid continue to climb up.

The floor price on Bored Apes was 100 ETH at that time.



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