bored ape nft lawsuit

[ad_1] Former Barclays Plc bond traders Ovie Faruq and Mike Anderson have sold a collection of iconic digital art that triggered their departure from banking and their pursuit of careers in nonfungible tokens. Faruq and Anderson sold 72 Bored Ape Yacht Club NFTs for between 78.08 and 78.18 Ether each this week, which translates to roughly $9.25 million, according to transactions recorded on NFT marketplace OpenSea. Faruq said the initial investment was around $1.14 million, which would make for at least 700% profit. NFTs, digital art that typically uses the Ethereum blockchain and is bought and sold with cryptocurrency Ether, saw their value soar in early 2022 during the height of crypto mania before a sharp selloff. However, this year's rally in risky assets has seen Bitcoin rise...

[ad_1] The creator of the popular Bored Ape Yacht Club collection of NFTs and its promoters, including Madonna, Paris Hilton and Justin Bieber, were sued by investors. The creator of the popular Bored Ape Yacht Club collection of NFTs and its promoters, including Madonna, Paris Hilton and Justin Bieber, were sued by investors claiming they were duped into buying the collectibles by celebrities who didn't disclose they were paid to pump sales. Yuga Labs Inc., the blockchain start-up behind Bored Ape Yacht Club, Hollywood agent Guy Oseary and MoonPay USA LLC, a company controlled by Oseary, were accused in the proposed class-action lawsuit of leveraging their network of A-list musicians, athletes and celebrities to misleadingly promote and sell Yuga financial products. The “promoti...

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Bored Ape NFTs Sale Scores Former Junk Bond Traders 700% Profit

Bored Ape NFT Investors Suing Justin Bieber, Madonna, Paris Hilton