Justin Bieber just bought a Bored Ape for 500ETH

Justin Bieber, the famous Canadian singer, paid 500 Ethereum for a non-fungible token (NFT) from the Bored Ape Yacht Club (BAYC). The ape’s characteristics include a New Punk Blue background, which only 12% of all apes have; a Black T, which only 3% of all apes have, sad eyes (6% rarity); dark brown fur (14% rarity), and a bored unshaven mouth (16 per cent rarity)

Justin Bieber Apes into BAYC

So, an OpenSea account called JustinBieberNFTs, which is thought to be owned by Bieber, purchased $1.27 million worth of NFT. Currently, the account owns a number of NFTs, including well-known NFT projects like Doodles, CloneX, and World of Women, which it recently purchased.

Interestingly, when Bieber purchased the NFT, the floor price of BAYC at the time of sale was 104 ETH or $270,908 at the time of sale. As a result, Bieber paid far more for the NFT than it was worth.

This sparked a social media frenzy, with Twitter users dubbing the singer’s move “more bullish than anything else could be.”

The Bored Ape Yacht Club (BAYC) is an NFT project made up of 10,000 different apes. It saw a significant increase in sales earlier this month after hip hop star Eminem purchased them. Just recently, the collection crossed the 100 ETH floor price mark.

Bieber is not the first celebrity to buy a Bored Ape Yacht Club NFT. Take a look at the list here. Significantly, the singer has 114.2 million Twitter followers, trailing only former President Barack Obama. The profile picture of the Canadian singer is also an NFT. As a result, it has the most significant mainstream reach of any of the projects.

Furthermore, the project’s 2022 roadmap is extremely compelling. This year, the team has already delivered one of the key milestones: the mobile game “Apes vs. Mutants.” Furthermore, the animated series starring Bored Ape avatars is on track.