<img fetchpriority="high" decoding="async" class="alignnone wp-image-137211 size-full" src="https://technicalterrence.com/wp-content/uploads/2024/04/Justin-Bieber39s-2M-NFT-Now-Valued-at-Less-Than-100000.jpg" alt="Justin Bieber's $2M nft Now Valued at Less Than $100,000″ width=”1280″ height=”720″ srcset=”https://technicalterrence.com/wp-content/uploads/2024/04/Justin-Bieber39s-2M-NFT-Now-Valued-at-Less-Than-100000.jpg 1280w, https://nftevening.com/wp-content/uploads/2024/04/image2-7-2-300×169.jpg 300w, https://nftevening.com/wp-content/uploads/2024/04/image2-7-2-1024×576.jpg 1024w, https://nftevening.com/wp-content/uploads/2024/04/image2-7-2-768×432.jpg 768w, https://nftevening.com/wp-content/uploads/2024/04/image2-7-2-100×56.jpg 100w, https://nftevening.com/wp-content/uploads/2024/04/image2-7-2-150×84.jpg 150w, https://nftevening.com/wp-content/uploads/2024/04/image2-7-2-450×253.jpg 450w, https://nftevening.com/wp-content/uploads/2024/04/image2-7-2-1200×675.jpg 1200w” sizes=”(max-width: 1280px) 100vw, 1280px”/>
Justin Bieber, the Canadian sensation in the field of popular music, enthusiastically and fervently explored the domain of non-fungible tokens (nft), in search of new opportunities. However, what began as a hopeful journey has now transformed into a cautionary tale, as the unpredictable nature of the nft market has drastically diminished Bieber's once thriving collection.
Arkham Intelligence Report
Renowned blockchain analyst Arkham Intelligence recently revealed a significant drop in Justin Bieber's nft investments. The value of the collection used to be priced at more than $2 million. In 2022, Bieber's nft collectible is down to just $100,000. With assets valued at less than $500,000, which represents a substantial loss of value over time.
The unique digital assets and their investment possibilities drew the attention of players to the rise of nft in recent years. Joining the nft market in 2022, Justin Bieber delved into nft collections such as Mutant Apes (those born after BAYC, World of Women, Otherdeeds, Bored Apes Yacht Club, Metacards and Doodles. Despite initial promises of potential returns , Bieber's foray into the nft market was not invincible in the face of its inherent risks, causing a significant drop in the value of his investments.
Source: Arkham Intelligence
A decrease in the portfolio: the numbers say it
JB's nft portfolio has witnessed a staggering drop of almost 95% from its peak valuation. The impressive collection, which included multiple MAYC and BAYC, has been reduced to a solitary image of Bored Ape and Mutant Ape, both now worth a fraction of their purchase price from last year. This sharp drop serves as a reminder of the unpredictable nature of the nft market, in general, the entire web3 market, and the risks associated with high-profile investments.
Final thoughts
The drop of Justin Bieber's nft wallet underscores the importance of caution and thorough research when navigating the volatile digital asset landscape. While the temptation of potential profits may be attractive, retailers/investors should approach the nft market with a more concerned attitude and a more thoughtful understanding of its risk. His experience reflects a valuable lesson for both celebrities and FOMO investors, highlighting the need for careful due diligence and foresight in the high risk/reward of digital wealth in the Web3 space; In the end, it is still a risky asset.
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This article is educational material.
As always, do your own research before making any type of investment.
