🙉 Justin Bieber’s $1.3M Bored Ape Is Now Worth Around $17K Bored Ape # 3001 was sold for 500 $ETH in January 2022. Today, the BAYC floor is sitting around $17,000 (roughly 99% below what Bieber paid). This Ape wasn’t some ultra-rare piece. Even at the time - the purchase raised eyebrows because the NFT had no particularly rare traits and was bought far above the collection’s floor. Now Adam Back has revived the story with an even harsher take. When someone estimated the Ape at around $16K, he called it "worth $0" - and then agreed with a joke that its value could technically be negative because you still have to pay $ETH gas to move it 😁 Adam Back’s comment brought the story back into the spotlight, but the bigger point is how dramatically the market has repriced these assets. In 2022, celebrity ownership could help make JPEG a million-dollar asset. 4 years later, BAYC still exists, but the market is putting a radically different price on that kind of scarcity. Probably one of the cleaner before-and-after pictures of the NFT cycle. #Altcoin Season# #NFT #Meme Alpha#