Justin Bieber bought an NFT for $1.29 million, paying 300 percent more than its market value.
Canadian singer Bieber was delighted with the piece Bored Ape Yacht Club (BAYC), bought the NFT for 500 ethereum cryptocurrencies, which is equivalent to $1.29 million, according to Bitcoin.com .
He made this known on his Instagram a photo showing a jumpsuit with a black T-shirt and tears in his eyes, along with the lyrics to his 2021 hit “Lonely,” which he captioned, “And if you had everything, but no one to call, maybe you’d know me. Because I’ve had everything, but no one listening, and it’s fucking lonely.”
It is worth mentioning that an NFT is a “unique digital certificate, recorded on a blockchain, that is used to record the ownership of an asset, such as a work of art or a collectible.”
In this regard, a blockchain refers to a technology that allows the transfer of digital data in an encrypted and decentralized manner, which gives it absolute security.
There was no shortage of criticism on Twitter to mock Bieber for dishing out so much money for the piece.
“Justin Bieber paid 5x Bored Ape’s minimum price for a freakishly featureless ape. He just got refined,” tweeted one person.