--- title: "Celebrities’ Bored Apes Are Hilariously Worthless Now" description: "The value of Bored Ape Yacht Club NFTs has absolutely plummeted, leaving celebrities with six figure losses, a hilarious conclusion to a bewildering trend. Earlier this year, popstar Justin Bieber bought an Ape for a whopping $1.3 million. Now that the NFT economy has essentially collapsed in on itself, it's worth a measly $69,000, as […]" date: "2022-11-18" modified: "2022-11-18" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/the-byte/celebrities-bored-apes-are-hilariously-worthless-now" categories: - "Blockchain" - "Future Society" tags: - "bored ape yacht club" - "cryptocurrencies" - "nfts" - "the digest" --- # Celebrities’ Bored Apes Are Hilariously Worthless Now ![The value of Bored Ape Yacht Club NFTs has absolutely plummeted, leaving celebrities with six figure losses, a perhaps predictable conclusion.]() *\Image: Kevin C. Cox/Getty Images\* ## Floored Apes The value of Bored Ape Yacht Club NFTs have absolutely plummeted, leaving celebrities with six figure losses, in a perhaps predictable conclusion to a bewildering trend. Earlier this year, for instance, pop star Justin Bieber bought an Ape for a [whopping $1.3 million](). Now that the NFT economy has essentially collapsed in on itself, as [*Decrypt* points out](), it's worth a measly $69,000. ## Demand Media NFTs, which represent exclusive ownership rights to digital assets — but usually, underwhelmingly, just JPGs and GIFs — have absolutely plummeted in value, spurred by the ongoing crypto crisis and a vanishing appetite. Sales volume of the blockchain knickknacks has also [bottomed out](). NFT sales declined for six straight months this year, [according to CryptoSlam](). According to [NFT Price Floor](), the value of the cheapest available Bored Ape dipped down to just 48 ETH, well below $60,000, this week. In November so far, the floor price fell 33 percent. Meanwhile, the crypto crash is only accelerating the trend, with the [collapse]() of major cryptocurrency exchange FTX [leaving its own mark on NFT markets](). ## Still Kicking Despite the looming pessimism, plenty of Bored Apes are still being sold. In fact, according to *Decrypt*, around $6.5 million worth of Apes were moved on Tuesday alone, an increase of 135 percent day over day. Is the end of the NFT nigh? Bored Apes are clearly worth a tiny fraction of what they once were, indicating a massive drop off in interest. Yet many other much smaller NFT marketplaces are still able to [generate plenty of hype](), and millions of dollars in sales. In other words, NFTs aren't likely to die out any time soon, but they *are* adapting to drastically changing market conditions — and leaving celebrities with deep losses in their questionable investments. **READ MORE:** [Justin Bieber Paid $1.3 Million for a Bored Ape NFT. It’s Now Worth $69K]() \[*Decrypt*\] **More on NFTs:** *[The Latest Idea to Make People Actually Buy NFTs: Throw in a House]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()