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Justin Bieber's NFT collection plummets nearly 95%: from $2 million down to $100,000
Canadian pop star Justin Bieber is at the center of one of the most emblematic stories of financial loss in the non-fungible token (NFT) market. According to data from Arkham Intelligence, the singer’s NFT investments mainly date back to 2022, when the market was still booming and digital assets attracted massive capital from investors of all levels.
Justin Bieber’s Massive NFT Investment in 2022
In 2022, Bieber spent over $2 million in Ethereum to acquire a series of NFTs considered among the most promising in the industry at the time. His investment strategy initially focused on about $2.34 million in ETH, used primarily to buy two Bored Ape Yacht Club (BAYC) and two Mutant Ape Yacht Club (MAYC), totaling $1.86 million at the time of purchase. This move seemed wise back then, given the hype surrounding these projects.
Bieber’s NFT Portfolio: From Renowned Projects to Significant Losses
The pop star’s NFT portfolio was not limited to Bored Apes. Bieber diversified his purchases by investing in other digital collections, including a World of Women token, two Doodles, an Otherdeed related to the Otherside project, and a Metacard. These assets appeared solid from a project perspective, but the market had other plans.
All these non-fungible tokens experienced steep declines, with devaluations ranging from 89.7% to 97.4%. These devastating losses severely impacted the overall value of Bieber’s collection.
Current Losses: From a Valued Portfolio to Fractional Residues
Currently, Justin Bieber’s NFT holdings contain less than $500,000 in Ethereum and APE coins, reducing the initial capital by nearly 95%. Despite the huge losses, the pop star still owns a Bored Ape and a Mutant Ape, although their combined value has plummeted to around $47,300.
Bieber’s situation serves as an important warning in the NFT market: even the most well-known and wealthy investors are not immune to the inherent risks of the NFT sector, where valuations can rapidly deteriorate when market sentiment shifts.