Bored-Ape NFT Investors Are Suing Bieber, Madonna and Other Celebrity Promoters
- Celebrities didn’t disclose payments to push sales, suit says
- Steph Curry, Gwyneth Paltrow also named in digital-asset suit
The Bored Ape Yacht Club NFT collection on the OpenSea marketplace.
Photographer: Tiffany Hagler-Geard/BloombergThis article is for subscribers only.
The creator of the popular Bored Ape Yacht Club collection of NFTs and its promoters, including Madonna, Paris Hilton and Justin Bieber, were sued by investors claiming they were duped into buying the collectibles by celebrities who didn’t disclose they were paid to pump sales.
Yuga Labs Inc., the blockchain start-up behind Bored Ape Yacht Club, Hollywood agent Guy Oseary and MoonPay USA LLC, a company controlled by Oseary, were accused in the proposed class-action lawsuit of leveraging their network of A-list musicians, athletes and celebrities to misleadingly promote and sell Yuga financial products.