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A Bored Ape NFT that Justin Bieber Purchased for $1.3 million is Now Only Worth About $67,000

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Bored Ape NFT, which Justin Bieber purchased for USD $1.3 million (AUD $1.9 million or £1.09 million), is currently valued about USD $67,000 (AUD $99,910 or £56,310).

The Yacht is Sinking

This year, NFTs were all the rage, and the wealthiest people in the world bought them everywhere. They are simply a digital piece of material that the owner can hold and stand for non-fungible tokens.

But today, according to the OpenSea marketplace, Bieber’s Bored Ape Yacht Club NFT is currently valued at roughly USD $67,340.

And it appears like the yacht—I mean, ship—is still going down.

The once-popular NFTs have decreased by 33% since the beginning of November, according to Decrypt.

After the collapse of the largest cryptocurrency exchange, FTX, owing to a liquidity problem, which decreased crypto prices and, in turn, caused Bored Ape Yacht Club to decline, the values of NFTs are now falling.

Business Insider reports that in April, the value of Bored Ape Yacht Club NFTs was approximately USD $429,999 (AUD $642,989 or £362,521) before the cryptocurrency market crashed quickly.

In other words, it appears that before the year is over, Bieber will need to release another collection of holiday music.

But according to Forbes, Bored Ape Yacht Club isn’t the only NFT that’s losing ground; DeGods prices have dropped by 68%, CryptoPunks’ by 37%, and DeGods’ by 66%.

But why is cryptocurrency falling apart so swiftly in front of our very eyes?

The absence of a regulatory framework that safeguards investors, according to Stephen Diehl, co-founder of the Center for Emerging Technology Policy and co-author of the recently released book Popping the Crypto Bubble.

He stated to MSNBC that cryptocurrency exchanges trade uncontrolled financial assets, such as crypto tokens, rather than regulated financial goods like stocks or bonds.

And unlike the majority of other items on the market, these tokens are not as heavily regulated.

“The absence of regulation of these products is to blame for many of the issues that resulted from the recent crisis.”

“This was one of the most respectable businesses in the entire crypto ecosystem,” he added of the FTX crash. In 48 hours, it blew up. Even though I frequently check at this stuff, I’ve never seen a week like this in the markets.

Entertainment

Fans already have the ideal substitute for Liam Hemsworth in The Witcher.

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The mess that was The Witcher on Netflix just won’t go away. If you didn’t hear, Henry Cavill has left the series, and I truly hope I’m not the one to tell you.

The Witcher Debate Just Won’t Go Away

In the next third season, Cavill will play Geralt of Rivea, but this will be his last appearance. The position will then be filled by Liam Hemsworth in season four.

Cavill didn’t really give a reason for leaving, but it’s quite obvious now. Cavill, who has fought for the veracity of Andrzej Sapkowski’s original novels, is quite disappointed that The Witcher is departing from them.

Some producers reportedly even made fun of the novels. In light of this, viewers started a petition requesting that Netflix fire the show’s writers and rehire Cavill. Liam Hemsworth is not at fault for any of this mess, but the actor hasn’t exactly received a warm welcome to the franchise.

Cavill didn’t really give a reason for leaving, but it’s quite obvious now. Cavill, who has fought for the veracity of Andrzej Sapkowski’s original novels, is quite disappointed that The Witcher is departing from them.

Some producers reportedly even made fun of the novels. In light of this, viewers started a petition requesting that Netflix fire the show’s writers and rehire Cavill. Liam Hemsworth is not to blame for any of this turmoil, but the actor hasn’t exactly had a warm welcome to the franchise.

We Got This Covered reports that 3D artist Wonki Cho has won the hearts of fans with a collection of concept work that casts actor Mads Mikkelsen in the part.

As Geralt, I must confess that Mikkelsen does look pretty cool, and let’s face it—everything that man touches turns to gold. Similar views were expressed by fans on Twitter. No offense to Liam Hemsworth for playing The Witcher, but Mads Mikkelsen is a perfectly capable actor over here, according to Grunchpop.

Fans aren’t the only ones affected by Cavill’s departure; Revnardent added, “Petition for Mads Mikkelsen to be the next Witcher.” We share Doug Cockle’s sentiments, who play Geralt in The Witcher 3: Wild Hunt, and expressed his sadness at Cavill’s departure.

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Entertainment

Does Laurence Fishburne feel that his absence from The Matrix: Resurrections was a loss? “No, Not At All”

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Actor Laurence Fishburne, who played Morpheus, doesn’t feel like he lost out by not participating in Matrix: Resurrections with stars Keanu Reeves and Carrie-Anne Moss.

Then it’s alright, we guess.

Resurrections, the fourth installment of the Matrix franchise that brought the series back after over 20 years, didn’t especially impress Fishburne or many other critics.

When speaking with Variety, Fishburne was directly questioned about if he felt excluded from the action. He answered, “No, not really.

It wasn’t as horrible as I anticipated, according to Fishburne. “And it didn’t live up to my expectations. But in my opinion, Carrie-Anne and Keanu did a great job. That’s what I was thinking, too.”

Resurrections included the return of Reeves as Neo, Moss as Trinity, Jada Pinkett Smith as Niobe, and Lambert Wilson as The Merovingian, but Fishburne was conspicuously absent.

Yahya Abdul-Mateen II portrays an AI version of the Morpheus character in Resurrections, however the reason why Fishburne was not asked back is still unclear. Even Fishburne admitted in 2021 that he had no idea why he hadn’t been approached to take on the part again.

Even though Resurrections attempted to explain Morpheus’ absence, many believed that his absence was actually due to his death in the canonical 2005 video game The Matrix Online.

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Legal Action Over Cardi B’s Marge Simpson Halloween Outfit is Threatened

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In relation to her Marge Simpson Halloween costume, an Italian artist has threatened Cardi B with legal action.

Halloween and Legalities

On October 31, the rapper known by the stage name “Bodak Yellow,” Belcalis Marlenis Almánzar, revealed her Halloween attire in an Instagram post.

In place of her customary green clothing, the Grammy-winning performer is seen in the images as the popular animated character wearing a 1995 Thierry Mugler black dress.

In her Instagram slideshow post, the mother of two also revealed the artwork that served as inspiration for her outfit. The piece of art was produced in 2013 as part of aleXsandro Palombo’s “Marge Simpson Style Icon” series, which was initially featured in Vogue UK.

The mother of two included Mugler in her caption but left Palombo out and untagged.

On Saturday, November 26, Palombo updated a post on Instagram to denounce the rapper and her use of his work.

The artist claimed that Cardi B and her associates “have used my artwork without any consent, degrading its original meaning and only to amplify their image with a clear commercial purpose that has nothing to do with that path of social awareness that has always characterised my works.”

Additionally, he asserted that he had previously written to Cardi B and her collaborators, photographer Jora Frantzis and stylist Kollin Carter, to explain why he hadn’t been contacted for permission to use his artwork.

We wrote to Mrs. Cardi B and her partners to ask why they hadn’t requested our permission to use the artwork and why they hadn’t acknowledged or given credit to the artist, in violation of Meta’s policy on intellectual property rights, he continued. Still no response.

Claudio Volpi, the attorney for Palombo, increased the level of the “appropriation” charges against his client’s creative work.

According to Volpi of Artnet News, “Cardi B has unlawfully hijacked the work of aleXsandro Palombo for purely commercial goals in violation of the most fundamental copyright and Instagram principles, with the accompanying substantial consequences, both of recompense and of dishonor for her public image.”

The attorney stated that after contacting Frantzis, Carter, and the Atlantic Records marketing team, he only heard back from Frantzis, who said she was “glad to add the credits” and wasn’t “known there was an artist behind this artwork.”

All parties concerned, including Atlantic Records chairman Craig Kallman, have received a formal notice, according to Volpi, requiring them to publish a “remedial” post with due credit to the artist within seven days of receiving it.

In the event that this demand is not fulfilled, Volpi threatened legal action, along with a demand for Palombo’s compensation.

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