A Sotheby's auction duped investors by giving the Bored Ape NFTs "an air of legitimacy... to generate investors' interest and hype around the Bored Ape brand," the class-action lawsuit claims.
Lawsuit plaintiffs say that harmed investors bought the NFTs "with a reasonable expectation of profit from owning them.".
Sotheby's sold a lot of 101 Bored Ape NFTs for $24.4 million at its "Ape In!"
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.
Yuga describes its collection of 10,000 Bored Ape NFTs as "unique digital collectibles living on the Ethereum blockchain" that double as a "Yacht Club membership card."
Your Bored Ape can serve as your digital identity, and open digital doors for you.".
After the auction, the price of Bored Ape digital assets hit a new high and kept rising for months. »