What is Bored Ape? The NFT That Cost Justin Bieber $1.3 Million

Justin Bieber paid $1.3 million for a cartoon monkey in January 2024. By November 2025, it's worth $40,000.

That's Bored Ape Yacht Club—the NFT collection that convinced celebrities to spend millions on digital ape pictures, generated over $4 billion in trading volume, then crashed 92% from its peak. Here's everything you need to know about the biggest NFT rise and fall in history.

What is Bored Ape Yacht Club?

Bored Ape Yacht Club (BAYC) is a collection of 10,000 unique cartoon ape NFTs on the Ethereum blockchain. Created by Yuga Labs in April 2021, each Bored Ape functions as both digital art and membership to an exclusive club.

The collection launched at 0.08 ETH, which was roughly $240 at the time. All 10,000 apes sold out quickly. Each ape has randomly generated traits including fur color, clothes, accessories, facial expressions, and backgrounds. Rarer trait combinations command higher prices.

When you buy a Bored Ape, you get ownership of one unique NFT, full commercial rights to use your ape however you want, and access to the private Discord server. That's about it. The "exclusive club" benefits that were promised have largely failed to materialize.

The peak price was 153.7 ETH in May 2022, roughly $430,000. Today's floor price sits around 12 ETH, or $35,000. That's a 92% decline from the all-time high.

The Celebrity Buying Frenzy

In 2021 and 2022, Bored Apes became the ultimate status symbol in tech and entertainment. Celebrities competed to buy them, immediately changing their Twitter profile pictures to their newly purchased apes.

Justin Bieber's $1.3 Million Mistake

Justin Bieber made the worst celebrity NFT purchase in history. In January 2024, he paid $1.3 million for Bored Ape #3001. Crypto experts immediately said he massively overpaid—similar apes were selling for $200,000-$300,000 at the time.

Today, similar apes sell for around $40,000 to $50,000. That's a paper loss of over $1.25 million, or 96.5% down from his purchase price. Bieber has since stopped using the ape as his profile picture.

Eminem Lost $412,000

Eminem bought his Bored Ape in December 2021 for $452,000. The ape weirdly resembles him, wearing a similar hat to Eminem's signature look. He seemed excited about the purchase at the time, using it across his social media.

Today, his ape is worth approximately $40,000. That's a $412,000 loss, or 91% down. Like most celebrity owners, Eminem has quietly moved on and rarely mentions NFTs anymore.

Neymar's Million-Dollar Loss

Brazilian soccer star Neymar bought not one but two Bored Apes in January 2022 for over $1 million total. He announced the purchases to his 55 million Instagram followers, seemingly thrilled to join the club.

His two apes combined are now worth roughly $80,000. That's a loss of more than $920,000, or 92% down. Neymar stopped posting about them long ago.

Stephen Curry Started the Wave

NBA star Stephen Curry was the first major athlete to buy a Bored Ape, paying $180,000 in August 2021. His purchase triggered a wave of athlete and celebrity buyers who didn't want to miss out on what seemed like the next big thing.

Other celebrity buyers included Snoop Dogg, Post Malone, Madonna, Jimmy Fallon, Paris Hilton, Serena Williams, Shaquille O'Neal, The Chainsmokers, Marshmello, DJ Khaled, Steve Aoki, Gwyneth Paltrow, and Ozzy Osbourne.

Total documented celebrity losses exceed $5 million. Most have quietly stopped using their apes as profile pictures and no longer discuss NFTs publicly.

The Price History: $240 to $430K Back to $35K

April 2021: The Launch

All 10,000 apes minted at 0.08 ETH (~$240). Sold out in hours. Early traders began flipping on OpenSea.

August 2021: Celebrities Drive Prices Up

When Stephen Curry paid $180,000 for his ape in August 2021, the floor price jumped to over 40 ETH almost overnight. Media coverage exploded. Suddenly everyone in crypto wanted a Bored Ape.

The "exclusive club" narrative took hold. Owning a BAYC wasn't just about the art—it was about status, connections, and being early to what many believed would be the future of digital ownership.

December 2021 to January 2022: Peak Mania

The celebrity buying frenzy reached its peak between December 2021 and January 2022. Eminem paid $452,000. Neymar paid over $1 million. The floor price climbed to 100-150 ETH. Some rare apes sold for over $1 million.

During this period, it seemed like Bored Apes could only go up. Yuga Labs was raising venture capital at a $4 billion valuation. Major brands wanted to partner with them. A metaverse game called Otherside was announced. The future looked limitless.

May 1, 2022: The Absolute Peak

On May 1, 2022, the Bored Ape floor price hit its all-time high of 153.7 ETH, roughly $430,000. This was the top. Anyone who bought at or near this price has lost at least 90% of their investment.

May 2022 to November 2025: The Long Crash

Then crypto winter arrived. Bitcoin crashed over 70%. Ethereum fell even harder. The entire NFT market collapsed. Bored Apes weren't immune.

The floor price dropped to 60 ETH, then 40 ETH, then 20 ETH. Celebrities stopped using their apes as profile pictures. The hype died. By November 2025, the floor sits around 12 ETH, or $35,000.

From peak to now: a 92% decline.

Why Did Bored Apes Crash 92%?

Crypto Winter Destroyed Everything

When Bitcoin and Ethereum crashed in 2022, the entire crypto ecosystem suffered. NFTs, which are essentially luxury digital goods with no cash flow, got hit hardest. When people are losing money on everything, they sell their speculative NFTs first.

The NFT Bubble Burst

Looking back, 2021 was clearly an NFT bubble. New collections launched every day. Everyone thought they could flip JPEGs for profit. Eventually reality set in: most people bought overpriced digital images with no real utility or value.

Yuga Labs Failed to Deliver

Yuga Labs promised big things to justify the high prices. Most notably, they announced Otherside, a metaverse game that was supposed to launch in 2023. As of November 2025, it still hasn't launched.

They did release one game called Dookey Dash. It was terrible. A film trilogy was announced but paused after the first movie flopped. The promised utility never materialized.

Celebrity Exodus Killed the Trend

When your brand depends on being a status symbol, and all the famous people stop using your product, you're in trouble. Most celebrity Bored Ape owners have quietly removed their apes from their profile pictures.

The trend is dead. What was once a flex became an embarrassment as losses mounted into the millions.

Controversies Damaged the Brand

Allegations of hidden Nazi symbolism circulated in 2022. Yuga Labs denied everything, and the Anti-Defamation League found claims unsubstantiated, but brand damage was done.

At ApeFest Hong Kong in November 2023, UV lighting caused eye injuries to attendees. Lawsuits followed.

A class action lawsuit alleges celebrities misled fans by promoting BAYC without disclosing financial relationships. The case is ongoing.

Current Bored Ape Prices

As of November 2025, the floor price for a Bored Ape sits around 12 ETH, which equals $35,000 to $40,000 depending on Ethereum's price. Most apes sell at or very close to floor price.

Apes with rare traits can fetch $75,000 to $120,000. Ultra-rare combinations might sell for $100,000 or more. But the premium for rarity has shrunk dramatically. During the peak, rare apes sold for millions.

Compared to the May 2022 peak of $430,000, current prices represent a 92% decline.

Is Bored Ape Yacht Club Dead?

This is the big question. The honest answer: it's complicated.

Signs It's Dead

Prices crashed 92%. Celebrities abandoned it. Otherside still isn't launched after three years. Management chaos. Multiple lawsuits. Zero cultural relevance.

Signs It's Not Dead

Still #1 NFT by all-time volume ($4.8B). Daily trading continues. Real businesses use BAYC IP—Ape Water raised $2.3M. Commercial rights have value. Brand recognition remains strong.

The Honest Answer

BAYC isn't dead, but it's not thriving. It exists in limbo—no longer a phenomenon, but not worthless.

Floor price could stabilize, recover if crypto booms, or crash further. Nobody knows.

Should You Buy a Bored Ape in 2025?

Probably not. You're speculating the crypto market recovers, NFTs become relevant again, and BAYC regains status appeal. That's a lot of "ifs" for $35,000.

The only reason to buy is if you want the commercial rights or personal enjoyment, and you're comfortable potentially losing the entire investment.

How to Buy a Bored Ape

If you ignore this advice: Download MetaMask wallet. Buy ~$40,000 of Ethereum. Go to OpenSea.io and search "Bored Ape Yacht Club" (verify it's the official collection). Choose an ape and buy it or make an offer. Pay gas fees ($50-$200). The ape transfers to your wallet.

You now own a very speculative asset that crashed 92% and may keep falling.

Frequently Asked Questions

The Bottom Line

Bored Ape Yacht Club represents both the peak of NFT mania and its brutal correction. In 2021-2022, celebrities competed to buy in, prices only went up, and the future looked limitless.

By 2025, floor prices crashed 92%. Most celebrities stopped using their apes. Promised utility failed to materialize. The exclusive club became a cautionary tale.

Yet Bored Apes persist with real trading volume and businesses using the IP. Brand recognition remains strong, even if somewhat negative.

For most buyers who paid $400,000+, the investment was catastrophic. For original minters who paid $240, even today's crashed prices mean a 145x return.

The lesson: in speculative markets, timing is everything. What feels like a sure thing at the peak often looks like madness just a few years later.