Pop Megastar Justin Bieber spends $1.3 million on NFT

Alex Dovbnya

There’s another star-studded member of the Bored Ape Yacht Club

Pop music star Justin Bieber has bought a non-fungible token (NFT) from the Bored Ape Yacht Club (BAYC) collection for $1.3 million worth of Ethereum (ETH) on the leading marketplace OpenSea.

The NFT had a significantly lower bottom price because it doesn’t have rare features, which is why some Twitter users are claiming that the hitmaker “Stay” has become “refined”.

Bieber, who recently became the first musician to score ten hits with over a billion streams on Spotify, is far from the only megastar to join the Bored Ape Yacht Club.
In late December, rapper Eminem bought a BAYC NFT for $462,000, along with other celebrities such as Steph Curry and Post Malone.

Some famous people trying to navigate the burgeoning NFT scene end up being the subject of ridicule.

Earlier this week, a very awkward clip of socialite Paris Hilton and talk show host Jimmy Fallon showing off their NFTs in the most unenthusiastic way went viral, sparking scathing criticism on Twitter. Even cryptocurrency proponents couldn’t help but find the segment extremely off-putting.

Bored Ape Yacht Club consists of 10,000 unique images of cartoon primates minted as non-functioning tokens on the Ethereum blockchain.

Yuga Labs, the company behind the most popular NFT collection, is reportedly seeking a $5 billion valuation, making it one of the largest web3 brands.

Major companies such as Walmart and YouTube are also preparing to jump into the NFT craze, but there are also some major skeptics, such as Tesla CEO Elon Musk.

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