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Why Are Serena Williams and Steph Curry Class Action Plaintiffs Against Bored Ape?

Why_Are_Serena_Williams_and_Steph_Curry_Class_Action_Plaintiffs_Against_Bored_Ape

In a lawsuit against BAYC, Serena Williams and Steph Curry are named as defendants. Steph Curry of the Golden State Warriors is apparently dating tennis superstar Serena Williams. The Bored Ape Yacht Club is one of the notable individuals named in a class action lawsuit filed against the NFT company’s founders. The case, which was filed earlier this week in California, asserts that Yuga Labs’ AppCoin cryptocurrency, as well as the company’s interest and value, were unfairly boosted by celebrity endorsements. Apparently, the buyers experienced a “staggering loss” as a result of the incident.

The complaint states, “Defendants’ promotional efforts were tremendously profitable, resulting in billions of dollars in purchases and resales.” “During the relevant period, manufactured celebrity endorsements and deceptive propaganda in conjunction with the introduction of the entire BAYC ecosystem (the so-called Otherside Metaverse) were able to artificially increase interest and value in BAYC NFTs, allowing investors to purchase these lost investments at absurdly inflated prices. According to the lawsuit, the brand “heavily relies on the notion that ‘joining the club’ (i.e., purchasing BAYC NFTs) confers status and grants consumers access to events and other attractive investment opportunities available exclusively to BAYC holders.”

Teph Curry is involved in another lawsuit

Notably, the Warriors star is a defendant in a class-action lawsuit filed against FTX, a bitcoin company that filed for bankruptcy in November. CO Sam Bankman-Fried resigned after a sudden and large loss of assets, precisely 16 billion dollars. Along with Tom Brady of the Tampa Bay Buccaneers, Shaquille O’Neal of the NBA, and Trevor Lawrence of the Jacksonville Jaguars, Stephen Curry is one of several well-known defendants.

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Tina concentrates on all matters related to NFT and Web3. Tina uses social media to spot NFT trends and report unique news.

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