July 4 (Cointime) - Justin Bieber's investment in a Bored Ape Yacht Club (BAYC) NFT has reportedly lost around $1.2 million, depreciating by more than 95%. While many celebrities have embraced NFTs as a new avenue to engage with their fanbase and monetize their brand, the market is notoriously volatile and unpredictable. However, some stars have made lucrative deals selling NFTs for exorbitant prices, making it a game of high risk and potentially high reward. Despite the substantial loss, Bieber's diversified income across music, merchandise, endorsements, and NFTs is likely to cushion the blow of the NFT's depreciation.
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Justin Bieber Lost $1.2 Million on NFT Investing
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