Arkham Intelligence, a well-known provider of blockchain analytics, has revealed a significant dip in Justin Bieber’s NFT purchases. According to the platform, the famous Canadian pop singer bought more than $2 million worth of NFTs in 2022, but now their value has dropped to just $100,000. The analytics platform also revealed that the Bieber’s wallet on Arkham currently contains very low value.
Justin Bieber NFT Purchases: Down 94.7%
Did you know that Justin Bieber bought over $2 million worth of NFTs in 2022 – now worth barely more than $100,000.
His wallet on Arkham now contains just under $500,000 worth of ETH and APE.
Details below: pic.twitter.com/U6qH84C3OO
— Arkham (@ArkhamIntel) April 24, 2024
Justin Bieber’s NFT purchases are seeing a serious dip
Justin Bieber has gained a lot of popularity in recent years. Bieber’s multi-genre performances increased his reputation among audiences. In 2009, he became a teen idol in America with an extended play called ‘My World’ (his debut). After that he became more successful. In this regard, he has won a Latin Grammy Award.
The non-fungible tokens have reportedly seen significant adoption in recent years. Bieber was among the celebrities who invested in this sector in 2022. Nevertheless, the NFTs he owned lost most of their value over time. The analytics company provided the respective statistics on its official X account.
According to Arkham, the pop music icon’s wallet currently contains very little value. It contains APE and ETH tokens with a value of less than $500K. The analysis forum added that Bieber initially obtained the wallet
tokens worth approximately $2.34 million. He reportedly bought a few Mutant Apes and a few Bored Apes NFTs.
The prominent pop singer is facing a class action lawsuit for allegedly promoting NFTs
The respective non-fungible tokens had a cumulative value of almost $1.86 million. Remarkably, Justin Bieber is among the celebrities facing a class action lawsuit. The investors who bought Yuga Labs’ digital assets have accused these celebrities of promoting the NFT Collection Bored Ape Yacht Club.