Pop star Justin Bieber’s “Lonely Ape” BAYC NFT purchased for 500 ETH ($1.3 million), is now worth only 56-59 ETH ($66,735-$71,500), representing a 90% loss as digital collectibles and assets suffer from the crypto market’s decline.
Similarly, the collection’s floor price has dropped to 62 ETH, according to OpenSea data.
A couple of potential factors could be driving down Bored Ape prices this week. One factor is general crypto market despair in the aftermath of the FTX collapse, which may be prompting some investors to sell their “blue chip” NFT assets during the downturn.
Also Read: List of Celebrity NFTs to Watch Out in 2023