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submitted 2 years ago* (last edited 2 years ago) by LeanFemurs@lemmy.world to c/leopardsatemyface@lemmy.world

The Sotheby's auction house has been named as a defendant in a lawsuit filed by investors who regret buying Bored Ape Yacht Club NFTs that sold for highly inflated prices during the NFT craze in 2021.

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[-] DrQuint@lemm.ee 14 points 2 years ago

The 50k value is itself propped up by fake transactions anyways. Since these sales are public, they can just push some around between two paid off clients to give the impression this is their worth.

this post was submitted on 17 Aug 2023
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