[Justin Bieber Purchases NFT, $1.3 Million → $12,000...Loss Rate '-99%']
According to Decrypt, the BAYC NFT, which pop star Justin Bieber purchased for approximately $1.3 million (500 ETH at the time) in January 2022, has now fallen to around $12,000 (approximately 6 ETH). At the time, Bieber purchased Bored Ape #3001, a common NFT without rarity attributes. The floor price of BAYC peaked at approximately $429,000 in April 2022, but subsequently fell significantly due to the NFT market downturn. Based on the current price, if Bieber were to sell the NFT, the loss rate would be approximately 99%. NFT industry insiders also raised concerns at the time, stating, "He purchased an NFT with no rarity at a high price." -Coinness
