Beauty And A BAYC: How Justin Bieber Is Shaking Up NFTs To The Tune Of Millions Of Dollars

Justin Bieber is now the owner of two Bored Ape Yacht Club NFTs and one of the few celebrities that own more than one of the popular non-fungible tokens. Here’s how Bieber is impacting Bored Ape Yacht Club.

What Happened: Justin Bieber made headlines last weekend with the purchase of several NFTs including Bored Ape Yacht Club #3001.

Bieber paid 500 Ethereum ETH/USD for the Bored Ape, or around $1.3 million. Many questioned the large purchase price given this particular Bored Ape not being rare and ranking as the 9777th rarest of 10,000.

The floor price of Bored Apes hit new highs days after Bieber’s purchase, with the price rising to the range of 115 ETH to 118 ETH.

Bieber’s Ape purchase marked the seventh-highest amount paid for a Bored Ape in ETH, according to OpenSea.

Since Bieber’s purchase, several large sales came in on rarer Apes, which could be attributed to continued interest in the well-known NFT collection and also possibly to the willingness by a celebrity to spend such a high amount on an Ape based on traits.

Related Link: Bored Ape Yacht Club Parent Yuga Labs Could Be Worth $5B: Report  

Big Sales: Bored Ape #232 was purchased for 1080.69 ETH ($2.8 million) on LooksRare, setting a new record for the collection. The Ape is ranked as the 503rd rarest in the collection and contains the Solid Gold Fur trait found on 0.46% of all Apes, or 47 total.

The Ape set a record for ETH paid, but came in just shy of the record $2.9 million paid for Bored Ape #3749 at a price of 740 ETH at the time.

Prior to Bieber’s purchase, there had been six sales for 500 ETH or more on OpenSea, and they had all took place four months or five months ago.

In addition to the 1080.69 ETH paid for the rare gold fur trait Ape, two other Apes with this trait were part of 800 ETH purchases in package deals that included other NFT assets.

While many celebrities have already bought Bored Apes and other NFTs, Bieber’s massive social media reach shouldn’t be underestimated. Bieber has the second-largest number of followers on Twitter Inc TWTR with 114 million, trailing only former President Barack Obama.

On Instagram, where Bieber showed off his Bored Ape with song lyrics, he has 219 million followers, ranking in the top ten of all users on the Meta Platforms FB social media platform.

inBetweeners, which is the NFT featured as Bieber’s profile picture on Instagram and Twitter, has seen its floor price increase as more people check out the NFTs owned by the musician and his social media profiles.

Bieber Buys Second Ape: News came out that Bieber bought a second Bored Ape Yacht Club, paying 166 ETH or around $448,000 for Bored Ape #3850.

This second Bored Ape Bieber purchased is ranked as the 1385th rarest Ape on Rarity Tools.

Bored Ape #3850 has the following traits:

Purple Background (13%)

Pink Fur (5%)

Puffy Vest (2%)

Bored Eyes (17%)

Bandana Blue Hat (0.89%)

Grin Diamond Grill Mouth (0.78%)

This second purchase by Bieber is much rarer and contains two traits found in less than 100 of the 10,000 Bored Apes.

With celebrities and top investors focusing more on rare traits instead of buying in at the floor price, Bored Apes could see the average price paid continue to rise.

The floor price on Bored Apes is 100 ETH at the time of writing.

Photo: Courtesy of Budiey on Flickr