Rating Celebrity NFT Wallets: Bieber

Rating Celebrity NFT Wallets: Bieber 

Welcome to Decentra Daily, bringing degenerates (and soon to be degens) news and insights from the NFT and web3 space.

Estimated read time: 4 minutes

Market sentiment analysis: It seems like everyone is holding their breathe...waiting to see what the market will do. Reminiscent of when you're driving through a tunnel and try to hold your breath, will you make it? Or pass out and crash? Let's hope the former. Blue chip NFTs are holding their floors decently, however there is not a ton of volume. Perhaps NFT investors are becoming a little bit more stable, hopefully not stable like TerraUSD (thanks Do Kwon). If NFT investors aren't undercutting floor prices when sales aren't rolling in, it could show a maturation in the market......or could signal stubborn sellers trying to hold out for prices that may not return for a while (or ever?)_. 

Here's what we got for you today:

• Justin Bieber likes to overpay for jpegs....

• NFT projects: winner and loser of the day

• Top NFT sales of the day (yes people are still paying a sh*t load for some NFTs)

Game of Thrones: Celebrity NFT Edition

We will be making daily posts about some of our favorite celebrities NFT purchases, culminating in a leaderboard to show who shall rightfully sit on the Jpeg Throne in Degens Landing.

"NFT trading isn't a pit. NFT trading is a ladder. Many who try it climb it and fail and never get to try again. The fall breaks them".

Justin Bieber

Notable purchases:

• Otherdeed #60629 - 7.23 ETH ($14,703)

• BAYC #3850 - 166 eth ($337,605)

• BAYC #3001 - 500 eth (1,016,885)

• MAYC #922 - 28.8 eth ($58,572)

• MAYC #6366 - 21.8 eth ($44,336)

• Doodle #3595 - 17.97 eth ($36,546)

• Doodle #8426 - 13 eth ($26,439)

• World of Women #7853 - 16 eth ($32,540)

What we like: If you have money and want to splash it around then NFTs are the right spot.  Bieber obviously eyed BAYC #3001 and was willing to pay significantly over the floor for it, at over a million dollars.

Despite Bieber arguable paying too much for some of his NFTs, we like the majority of his notable purchases. Buying into the Bored Ape ecosystem has been a smart play to date. Doodles is a solid play as they seem to have brand staying power. World of Woman seems like a more risk at the price Justin bought at.

What we don't like: Seemingly Bieber is overpaying a little for his NFTs, but when you have more money than some countries GDPs then you can afford to buy the monkey picture you like most.

There are some smaller purchases in Biebs wallet that we aren't huge on: inBetweeners in particular, that were purchased for 1 eth and the floor is down to 0.27 eth. 

Letter grade: B 

Reasoning: Bieber has bought into quality projects and his wallet is as pretty as Justin's eyes. However, he has not been early to any projects, which resulted in him paying 770.8 eth (or ~1.5 million USD) on the NFTs listed above. Most of these purchases would need to be sold for less than Justin purchased these for. Maybe we'll see Justin sell something 'One Time'. 

Tomorrow's wallet analysis: Reese Witherspoon

NFT projects: winner and loser of the day 

Winner of the day: According to Cryptoslam.io the biggest mover in a positive direction is JUNKIEZ.....we had not heard of the project, it is on the Solana blockchain. Our verdict is that we are staying away during this pump, and don't have enough information about the project to make an informed decision.

Loser of the day: Our loser of the day is Crypto Zunks - their volume is down 56% percent on the day. 

Top NFT sales of the day

Here's today top 4 NFT sales:

1. Bored Ape Yacht Club #5869 - 129.9 weth ($261,560.24)

2. CloneX #8266 - 125 weth ($259,455.11)

3. Bored Ape Yacht Club #743 - 119.5 eth ($240,691.89)

4. Bored Ape Yacht Club #5685 - 110 eth ($222,281.27)

Looks like Bored Apes rule the day again, sprinkled with a little CloneX. We'll see you tomorrow to report on more celebrity NFT purchases, and underpriced Jpeg sales ;).