Pop music star Justin Bieber has purchased 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 floor price since it has no rare traits, which is why some Twitter users argue that the “Stay” hitmaker got “finessed.”
Justin Bieber really paid 5x the Bored Ape floor price for an ape with no rare traits— theweeknd.eth (@LilMoonLambo) January 29, 2022
He just got finessed ???
Bieber, who recently became the first musician to score ten hits with over a billion streams on Spotify, is far from being the only megastar to join the Bored Ape Yacht Club.
In late December, rapper Eminem purchased a BAYC NFT for $462,000, joining other celebrities such as Steph Curry and Post Malone.
Some famous people who are trying to navigate the burgeoning NFT scene end up being a subject of mockery.Earlier this week, a deeply awkward clip of socialite Paris Hilton and talk show host Jimmy Fallon showing off their NFTs in the most unenthusiastic way possible went viral, inspiring scathing criticism on Twitter. Even cryptocurrency proponents couldn’t help but find the segment extremely off-putting.
god SPEED. If anyone can kill NFT culture, it's Jimmy Fallon and Paris Hilton https://t.co/VV3ei9zLTn— Quinton Reviews? (@Q_Review) January 25, 2022
Bored Ape Yacht Club is comprised of 10,000 unique images of cartoon primates that were minted as non-fungible tokens on the Ethereum blockchain.
Yuga Labs, the company behind the hottest NFT collection, is rumored to be seeking a $5 billion valuation, which would make it one of the biggest web3 brands.
Major companies such as Walmart and YouTube are also preparing to jump into the NFT craze, but there are also some big-name skeptics of the likes of Tesla CEO Elon Musk.