Justin Bieber, Snoop Dogg, The Weeknd and dozens of other celebrities are facing a new class action lawsuit alleging they were secretly paid to “misleadingly” promote NFTs like the Bored Ape Yacht Club.
and dozens of other celebrities are facing a new class action alleging they were secretly paid to “misleadingly” promote NFTs like the Bored Ape Yacht Club, leaving investors with “staggering losses.”
“Defendants’ promotional campaign was wildly successful, generating billions of dollars in sales and re-sales,” the lawyers for the plaintiffs wrote. “The manufactured celebrity endorsements and misleading promotions … were able to artificially increase the interest in and price of the BAYC NFTs…, causing investors to purchase these losing investments at drastically inflated prices.
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