Justin Bieber’s $1.3M Bored Ape Valuation Evaporates to $12K as Nifty Gateway Sunsets

Justin Bieber’s entry into the Bored Ape Yacht Club (BAYC) has officially turned into a cautionary tale of the 2021 mania. The pop star, who purchased Bored Ape #3001 for 500 ETH ($1.29 million) in January 2022, is now sitting on a paper loss exceeding 99%. As of trading this morning, the Ape’s valuation hovers near the collection floor of roughly 6 ETH ($12,430).

The “Concierge” Premium Evaporates

The purchase was controversial from day one. Bieber paid 500 ETH at a time when the BAYC floor price was approximately 100 ETH, a 400% markup for an asset with relatively common traits (unremarkable background, black t-shirt). Market makers and on-chain sleuths have long speculated the buy was facilitated via MoonPay’s concierge service, a common vehicle for celebrity onboarding during the bull run, rather than organic demand.

The spread between the 500 ETH entry and the 6 ETH exit liquidity represents one of the steepest percentage losses for a high-profile wallet in the entire cycle.

Institutional Liquidity Exits

Bieber’s portfolio implosion tracks perfectly with the broader infrastructure collapse witnessed last month. Nifty Gateway, the Gemini-owned marketplace once central to the digital art boom, announced its shutdown on January 24, 2026, forcing 650,000 assets to be withdrawn. Days later, Foundation, a haven for 1/1 artists, was sold off to BlackDove.

The data paints a grim picture for liquidity: aggregate NFT trading volumes have collapsed from $2.9 billion in 2021 to just $23.8 million in Q1 2026. With major venues closing doors, the “blue chip” premium has vanished, leaving assets like Ape #3001 to trade strictly on floor fundamentals.

For holders, the “weekend meme” on r/CryptoCurrency isn’t just about Bieber; it’s a realized loss for an entire asset class that lost its secondary market infrastructure.