Since their arrival, many crypto platform enthusiasts have adored and defended NFTs, being unique digital items that have spawned dozens of projects around the world, in which millions of dollars have been invested. The most popular is the NFT Bored Ape Yacht Club collection, renowned for its characteristic drawings of apes, who have been sued by investors, who accuse them of having deceived them.
According to the class action lawsuit, these investors were duped by the creators of the Bored Ape NFTs during an auction, giving these digital items “an air of legitimacy to generate investor interest and excitement around the brand.” All of which in the end “was based on deception,” as they claim in the document filed with the US District Court for the Central District of California, United States.
You can read: Bought NFT of the first Twitter message for $3 million hoping to make $50 million, but now it’s only worth $4
It was the Ars Technica outlet that reported that in this auction, a batch of 101 Bored Ape NFTs was acquired for $24.4 million dollars, which drew the immediate attention of several investors. But what they did not know at that time is that behind this auction was FTX, the cryptocurrency platform that is now out of operation, after its owner was accused of fraud.
“The undisclosed purchaser was a ‘traditional’ collector, with whom they had deceptively created the impression that the BAYC NFT marketplace had reached a mainstream audience, with a reasonable expectation of profit from owning them,” the lawsuit states.
Tens of millions of dollars spent on these NFTs that apparently went to waste, as currently, the average Bored Ape price is around $50,000. Something that has surely caused even more annoyance to those who participate in this class action, since in addition to losing money with the fall of the NFTs, they have declared that they trusted a project that from its beginnings was based on a falsehood.
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