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What are Bored Ape NFTs and Why are Celebrities Buying Them?

Feb 7, 2022 8:32 PM

Bored Ape NFTs are all the rage right now, selling for millions of dollars. They’re digital paintings of monkeys dressed up in different clothes and accessories. A total of 10,000 Bored Ape NFTs were sold on the Bored Ape Yacht Club website. They sold out in 12 hours for roughly $190 each.

These versions are now being sold and flipped by celebrities. Everyone from Jimmy Fallon to Justin Bieber is buying one. While they may seem to be wishful purchases right now, they are just the latest status symbol.

Justin Bieber recently bought one for $1.39 million! This is the latest addition to his collection. The Grammy Award-winning singer owns a collection of 619 NFTs from 49 collections. 

Since the NFTs are worth so much, you may think they’re considered investments to quickly grow one’s fortune. That may be why so many celebrities are swiping at the chance to buy one.

A lot of other celebrities like Logan Paul and Eminem and Steph Curry have bought a Bored Ape. Even Gwyneth Paltrow has some in her collection.

However, if you’re still not convinced, let’s dig in further. The Bored Ape Yacht Club has described itself as a social club. They’ve hosted several meetups in California and New York. 5000 members ate bananas together in Manhattan. Stranger things have happened. Again, like any other club that vies for supremacy, their goal is to be exclusive.

As far as the Bored Ape NFT collection, they’ve achieved their goals. Some of the biggest celebrities in the world are part of their club now. If you’ve got enough money to purchase bored ape NFTs, you may want to be part of the club too.