Justin Bieber paid $1.29 million for a Bored Ape NFT worth only $208K
So many celebrities are jumping on the NFT bandwagon. My take is that celebrities believe NFTs are the new “crazy art purchase,” only instead of actually attending a Sotheby’s auction, they can just go online and “buy” an NFT, post that NFT on their social media and they really think they’re doing something special. The fact that Gwyneth Paltrow is on this bandwagon should tell you a lot. The fact that Justin Bieber got on the bandwagon before Gwyneth should also tell you a lot. Before everyone bought all of those Bored Ape NFTS, Justin was buying NFTs of cartoon bears. But finally, he got on the Bored Ape bandwagon. He wanted a Bored Ape so much, he grossly overpaid:
Justin Bieber purchased a Bored Ape Yacht Club (BAYC) NFT for $1.29 million, paying a reported 300 percent more than its valued market price. The singer posted a photo of the new BAYC #3001 – which features a cartoon ape in a black T-shirt with tears in its eyes – to his Instagram on Monday, along with lyrics from his 2021 hit song “Lonely.”
“What if you had it all, but nobody to call, maybe then you’d know me. Cuz I’ve had everything but noones listening and that’s just f–kin lonely. #lonelyboredape,” he captioned the post shared with his 219 million Instagram followers.
Bieber, 27, purchased the NFT for 500 ethereum cryptocurrency, which is the equivalent to $1.29 million, according to Bitcoin.com. The estimated value of the NFT was $208,237 as of January 29, 2022, meaning the star bought the non-fungible token for nearly 300 percent above its valued price.
I can’t wait for the NFT bubble to burst. It’s gonna be so funny to watch these celebrities quietly delete their social media brags about NFT purchases. And to overpay like this on a dumb “Bored Ape” image? Come on. More money than sense. And what the hell is wrong with supporting actual artists who make art you could put on your wall, or a sculpture you could put on your table? There are so many artists who would love to have a wealthy patron supporting their work. Alas, all of the wealthy patrons are buying these stupid f–king Bored Apes.
Photos courtesy of Instar and Instagram.
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North America Rights – New York, USA – 20210913 – Celebrities are pictured as they arrive at the annual Metropolitan Museum of Art Costume Institute Gala. -PICTURED: Justin Bieber, Hailey Bieber -PHOTO by: /ABACA USA/INSTARimages.com -780148_235.jpg This is an editorial, rights-managed image. Please contact Instar Images LLC for licensing fee and rights information at sales@instarimages.com or call +1 212 414 0207 This image may not be published in any way that is, or might be deemed to be, defamatory, libelous, pornographic, or obscene. Please consult our sales department for any clarification needed prior to publication and use. Instar Images LLC reserves the right to pursue unauthorized users of this material. If you are in violation of our intellectual property rights or copyright you may be liable for damages, loss of income, any profits you derive from the unauthorized use of this material and, where appropriate, the cost of collection and/or any statutory damages awarded 
North America Rights – New York, USA – 20210913 – Celebrities are pictured as they arrive at the annual Metropolitan Museum of Art Costume Institute Gala. -PICTURED: Justin Bieber, Hailey Bieber -PHOTO by: /ABACA USA/INSTARimages.com -780148_229.jpg This is an editorial, rights-managed image. Please contact Instar Images LLC for licensing fee and rights information at sales@instarimages.com or call +1 212 414 0207 This image may not be published in any way that is, or might be deemed to be, defamatory, libelous, pornographic, or obscene. Please consult our sales department for any clarification needed prior to publication and use. Instar Images LLC reserves the right to pursue unauthorized users of this material. If you are in violation of our intellectual property rights or copyright you may be liable for damages, loss of income, any profits you derive from the unauthorized use of this material and, where appropriate, the cost of collection and/or any statutory damages awardedncG1vNJzZmivp6x7pLHLnpmirJOdxm%2BvzqZmcG1iZn5xe8muqq2hnpSvqrHBnqmYqJGesaB9kXKWpqGcobawur6fpquXkZSvsL7EnZaaqJWUu6fAvrCmq6yYlLyvuNiYaWlwm2Q%3D