Justin Bieber paid $1.3 million for a Bored Ape NFT. It is now worth $69k.
The excitement around the Bored Ape Yacht Club was in full swing earlier this year, when celebrities "aped into" the costly Ethereum NFT line.
Some people have even utilised their Apes to design goods, themed restaurants, live shows, and other things.
However, during the cryptocurrency bear market, the price to join the elite club has been plummeting lower and lower in recent weeks.
A "floor" Bored Ape, such as the one that singer Justin Bieber paid $1.3 million in ETH for in January, now sells for a fraction of that amount.
As of this writing, the floor price for the Bored Ape Yacht Club—that is, the price of the cheapest-available NFT listed on a marketplace—is approximately 58.2 ETH
Approximately $69,800, according to statistics from NFT Price Floor. The floor price fell below $60,000 for the second time this month on Monday, but it rose steadily throughout the day on Tuesday.