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.
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.
GEE, WHO THE FUCK COULD’VE FORESEEN SUCH TURN OF EVENTS, HUH??? If only there were people that realized very early on that NFTs were absolutely pointless, right?
Sarcasm aside, even being the USA, I doubt there’s any law that criminalizes shit investments. Despite everything, NFTs and cryptocoins themselves still aren’t legally considered scams, so investing in them and losing money due to their price fluctuations aren’t crimes.
Isn’t that the modus operandi of art auctions in general? There’s always at least one or two fellas doing everything in their power to pump up prices of certain pieces or specific artists, since they have big collections.
Ooohh, now that could be interesting, though I highly doubt they’ll get more than a slap on the wrist, if it gets that far.