Arkham Intelligence, a well-known blockchain analytics provider, has disclosed a significant dip in the NFT purchases of Justin Bieber. As per the platform, the famous Canadian pop singer purchased above $2 million worth of NFTs back in 2022 but now their value has declined to just $100K. The analytics platform also revealed that the wallet of the Bieber on Arkham currently contains a very low value.
NFT Purchases of Justin Bieber See a Severe Plunge
Justin Bieber has gained a lot of popularity in recent years. The multi-genre performances of Bieber expanded his reputation among the public. Back in the year 2009, he became a teen idol in America with an extended play named “My World” (his debut). After that, he went on to get more success. In this respect, he has won a Latin Grammy Award.
The non-fungible tokens reportedly witnessed significant adoption in recent years. Bieber was among the celebrities who invested in this sector in the year 2022. Nonetheless, the NFTs in his possession 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 a very low value. There are APE and ETH tokens in it with a value of less than just $500K. The analytics forum added that Bieber’s wallet initially obtained [ccpw id=60480] tokens of approximately $2.34 million worth. He reportedly purchased a couple of Mutant Apes and a couple of Bored Apes NFTs.
The Prominent Pop Singer Faces a Class-Action Lawsuit for Allegedly Promoting NFTs
The respective non-fungible tokens had a cumulative value of almost $1.86 million. A noteworthy thing is that Justin Bieber lies among the celebrities who face a class-action lawsuit. The investors who bought the digital assets of Yuga Labs have accused these celebrities of promoting the NFT Collection Bored Ape Yacht Club.
