I remembered today Justin Bieber and that Bored Ape NFT he bought for around $1.3 million back in 2022. Yeah, the guy saw it plummet to about 12,000 reais now. It’s basically what’s been happening to the entire NFT market lately.

Projects that were super hyped, like Bored Apes, CryptoPunks, and Pudgy Penguins, all experiencing significant price drops. According to the data I saw, it’s a prolonged decline, no quick recovery in sight. But what’s interesting is that Yuga Labs, the company behind Bored Apes, isn’t just sitting idly by. They’re investing in new things, like a physical clubhouse and even a metaverse game with their NFT avatars.

So that’s it, the NFT market is really in a tough spot right now, but some creators are trying to innovate despite the crisis. Let’s see if they can turn this around.