Serena Williams Bored Ape Yacht Club has been named in a class action lawsuit regarding participation in an NFT company.
With the rise of NFTs last year, many celebrities jumped in to make a quick profit. Many athletes have participated in her NFT operations of various kinds and have seen Serena Williams promoting her Bored Apes. The lawsuit alleges that the celebrity advertised her NFTs at artificially inflated prices without disclosing personal stakes or other interests.
The complaint reads:
“Defendant’s promotional campaign was highly successful, generating billions of dollars in sales and resale. , has been able to artificially increase interest in BAYC NFT prices and prices during the relevant period, causing investors to purchase these loss investments at significantly inflated prices.on social media platforms and reported Advertise BAYC NFT through the following actions. [the
celebrities] A substantial factor causing both the price of NAYC NFTs to skyrocket and long enough to allow all defendants to sell BAYC NFTs for huge profits at the expense of their followers and investors. provided some assistance. ”