Buyers of Bored Ape NFTs sue after digital apes turn out to be bad investment
arstechnica.com
Lawsuit: Sotheby’s $24M sale to FTX gave Bored Ape NFTs “an air of legitimacy.”…

The Sotheby’s auction house has been named as a defendant in a lawsuit filed by investors who regret buying Bored Ape Yacht Club NFTs that sold for highly inflated prices during the NFT craze in 2021.

  • some_guy@lemmy.sdf.orgEnglish
    1·
    1 year ago

    That’s an average price of over $241,000, but Bored Ape NFTs now sell for a floor price of about $50,000 worth of ether cryptocrurrency, according to CoinGecko data accessed today.

    Wait till they realize the actual value is $0.

    • DrQuint@lemm.eeEnglish
      1·
      1 year ago

      The 50k value is itself propped up by fake transactions anyways. Since these sales are public, they can just push some around between two paid off clients to give the impression this is their worth.