Justin Bieber roasted for spending $1.29m on an NFT that's worth five times less

This week Justin Bieber shared his latest expensive purchase with his fans: a Bored Ape NFT.

The Grammy winner showed off his 'lonely' Bored Ape Yacht Club (BAYC) non-fungible token which he purchased for 500 ethereum, worth $1.29M. He shared his NFT with his 219 million social media followers on Instagram and quoted his 2021 track "Lonely" in the caption of his post, presumably to show the inspiration behind his NFT.

"What if you had it all, but nobody to call, maybe then you'd know me. Cuz I've had everything but no one's listening and that's just f***in lonely," Bieber wrote.

The new BAYC #3001 features a cartoon ape in a black T-shirt with tears in its eyes.

While Bieber seemed to be more than satisfied by his new purchase. Online, people discovered that the estimated value of the NFT was $208,237 as of January 29, 2022.

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This means the singer bought the non-fungible token for nearly 300 percent above its valued price.

Because it's only natural for social media users to troll celebrities making outrageous purchases (especially where it concerns NFTs) many flocked to Twitter to share their thoughts.

"Justin Bieber really paid 5x the Bored Ape floor price for an ape with no rare traits," one person wrote. "He just got finessed"

“Next time you think you’re down bad, just remember that .@justinbieber just bought a floor ape for 500 ETH,” another person added.

While he was met with some criticism, others came to his defense.

"Yes we all know that @justinbieber could have bought a more expensive/rarer ape but, he doesn't give a shit, this is just a flex, to get people talking about it. A statement piece. Welcome!" wrote one.

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