Bored Apes investors are suing Sotheby's and a number of celebs including Paris Hilton for hyping up the tokens back in 2021.
well over 100 of the Bored Ape NFTs to just one buyer for more than $24 million, vastly exceeding expectations and drawing mainstream media attention."The allegations in this suit are baseless, and Sotheby’s is prepared to vigorously defend itself," the auction house toldthat "these new allegations, like those in the previous iteration of this opportunistic complaint, are completely without merit or factual basis.
But to prove that it was part of a "vast scheme" to artificially inflate prices will likely be difficult. The hype surrounding the largely unregulated tokens was astronomical back in 2021. But that was two long years ago, giving collectors and investors plenty of time to come to their senses.More on Bored Apes:
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