Justin Bieber Shows Off His Bored Ape Yacht Club NFT: Why Did He Pay $1.3M For This Particular Ape?

Musician Justin Bieber became one of the latest celebrities to purchase a Bored Ape Yacht Club, one of the most well-known and highest valued NFT collections. Bieber showed off his Bored Ape for the first time Monday, posting the image on Instagram.

What Happened: Bieber took to Instagram, a company owned by Meta Platforms FB, to show off Bored Ape Yacht Club #3001.

Bieber captioned the image with lyrics from his song “Lonely.”

“What if you had it all, but nobody to call, maybe then you’d know me. Cuz I’ve had everything but noones listening and that’s just f***in lonely,” Bieber captioned the post.

Bieber also included the hashtag #lonelyboredape.

“Lonely” was released on Bieber’s sixth studio album called Justice and was the second single off of the album. A music video for the song released in October 2020 has over 141 million views on YouTube, a unit of Alphabet Inc GOOGGOOGL.

The post by Bieber confirms that he is the owner of the Bored Ape, which was widely assumed since the purchaser of the NFT had the name JustinBieberNFTs on OpenSea and contained an inBetweeners NFT that is Bieber’s profile picture on Twitter Inc TWTR.

Related Link: Celebrities That Own Bored Ape Yacht Club NFTs 

Why It’s Important: Bieber spent 500 Ethereum ETH/USD on Bored Ape Yacht Club #3001, or around $1.3 million.

The Ape ranks as the #9777 rarest on Rarity Tools, something many were quick to point out given the high price tag paid.

The traits on the Ape are:

Punk Blue Background (12% of Apes)

Black T (3%)

Sad Eyes (6%)

Dark Brown Fur (4%)

Bored Unshaven Mouth (16%)

One trait to watch could be the Ape's sad eyes, as Bieber captioned his Instagram post with #lonelyboredape. While this could just be a play on the song title and the name of the NFT project, it could also apply to the Ape looking lonely thanks to this trait.

The floor price on Bored Apes with sad eyes is 120 ETH.

The Instagram post from Bieber has over 890,000 likes in three hours, showing the musician's huge reach. Bieber has 219 million followers on Instagram, making him one of the largest accounts on the platform.

Bieber has not yet shared the Bored Ape on Twitter, a social media platform where Bieber has 114.2 million followers. The musician ranks second in followers on Twitter, trailing only former President Barack Obama (130.6 million).

The floor price of Bored Apes stands at 116 ETH at the time of writing, up from 104 ETH on Saturday, when Bieber’s purchase of the Ape was widely discussed.

Bored Ape NFTs have seen an increase in valuation thanks to the project's strong community and due to holders being rewarded. Continued celebrity purchases will likely increase brand exposure and lead to more big names Apeing in.

Photo: Courtesy of Sebastian Vital on Flickr

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyNewsMarketsBored ApeBored Ape Yacht ClubInstagramJustin BieberNFTNFTsnon-fungible tokenssocial mediaSocial Media PlatformsYouTube
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!