Justin Bieber buys Bored Ape NFT for $1.29M
Why would Justin Bieber purchase a “jpeg” for 1.29 million dollars? One word, CULTURE. He was following the trend and wanted to be a part of an exclusive community.
Recently, the team behind the Bored Ape project (known as the Bored Ape Yacht Club) acquired two more projects; Crypto Punks and Meebits (two massive projects with huge followings). What does this mean?
Yuga Labs (the team behind BAYC) is looking to be at the forefront of the Metaverse from a cultural standpoint. They have a massive treasury and recently raised raised $450 million at a 4 billion valuation...proving that the Metaverse is the future and these NFT giants desire to build a whole new world beyond our wildest dreams, and they have the resources to do so.
Impressive moves made by the BAYC:
- Caught the eyes of celebrities to blast their NFT project to the moon
- Acquired Cyber Punks and Meebits
- Launched their own Crypto Currency
- Dropped their intention with killer trailer video
What does this all mean? No one knows. However, this phenomenon is becoming more and more real by the day. NFTs and the Metaverse will change culture. How broad the stroke of change will be is yet to be determined.