Justin Bieber's Bored Ape Yacht Club #3001 Went From $1.3 Million To $58,090

BAYC #3001

Justin Bieber bought Bored Ape Yacht Club #3001 in January 2022 for about 500 ETH which equal to $1.3 million. The current price of this NFT is only about 30 ETH or $58,090. Justin Bieber's NFT price dropped 2,137.9%. 

3001 - Bored Ape Yacht Club | OpenSea

The fact is Bored Ape Yacht Club NFT collection hits the lowest price in the past 2 years. BAYC floor price is 31.6 ETH.

There are two factors that make BAYC price plummet. The first factor is many big investors in BAYC sold off their BAYC holding. There are more people selling BAYC than buying them. As a result, making the price of BAYC going down.

The second factor is the launch of Azuki Elemental that disappointed the market. The new Azuki elemental is very similar to original Azuki. Therefore, original Azuki price has been dropping dramatically which has an effect on other NFT collections.