Justin Bieber was criticized for overpaying for his BAYC NFT, They have many traits in common. Other apes in the collection with rarer traits often fetch significantly higher prices on secondary marketplaces.
Justin Bieber also owns non-fungible tokens from the CLONE X – X TAKASHI MURAKAMI, Mutant Ape Yacht Club, Doodles, World of Women, and LIVES of LALISA collections.
Yuga Labs released the Bored Ape Yacht Club NFT Collection in pre-sale on April 23, 2021 and soon became a celebrity status symbol.
Apart from Justin Bieber, other notable celebrities who own BAYC NFTs are television host Jimmy Fallon, actress Gwyneth Paltrow, and media personality Paris Hilton. Own an NFT from the collection grants holders access to an exclusive Discord server.
What about NFT sales
According to Bloomberg, NFT sales fell sequentially by two-thirds during the third quarter, as many holders dumped assets they believed to have little prospective value. Those who kept their tokens did so because of different potential use cases.
This phenomenon dovetails with a recent report from Activate Technologies suggesting that the NFT hype phase is over and that Web3 and blockchain will generate higher utility for tokens in 2023.
BeInCrypto reported two months ago that YouTube influencer Logan Paul’s Azuki “Bumblebee NFT” also saw a sharp drop in price. Bought for $623,000 in 2021, Paul estimated that Bumblebee’s value was around $10 in July 2022.
Paul entered the NFT market in 2023, selling 3,000 NFTs for 1 ETH each. In December 2021, he claimed to have spent $2.645 million on NFTs.
Additionally, high-profile collector Daniel Maegaard went on to buy NFTs for tens of thousands of dollars in October 2021. to buy them for about $2,000 a year later.
According to a Nansen analyst, top-tier NFT collections like Bored Ape Yacht Club, Azuki and CryptoPunks still dominate sales in major marketsdespite the addition of new, lower-cost sets in more recently launched markets like Solana’s Magic Eden.
Data from CryptoSlam confirms that Bored Ape Yacht Club sales remain relatively strong. In the last 24 hours, it had just under $2.2 million in sales, with 33 transactions, surpassing Mutant Ape Yacht Club with sales of just under $2.5 million.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
