I hate to remind you, but investors who bought Bored Ape NFTs are now suing over their purchases. The investors are suing Sotheby’s and several celebrities for “misleadingly promoting” the NFTs, claiming they did not see the expected profit. The plaintiffs initially sued Bored Ape creator Yuga Labs and celebrities in December 2022, and later added Sotheby’s as a defendant. Sotheby’s and Yuga Labs have both denied any wrongdoing. The investors are seeking over $5 million in damages. Currently, the cheapest Bored Ape NFT on OpenSea costs around $43,000.
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