Justin Bieber’s $1.3 Million Bored Ape NFT Now Worth Only $59,000
The news arrives several months after Bieber was among several celebrities named in a class action lawsuit against Yuga Labs Inc.—the cryptocurrency startup behind Bored Ape Yacht Club.
The lawsuit claimed stars like Bieber, Post Malone, Snoop Dogg, The Weeknd, Kevin Hart, and more promoted Bored Ape and other Yuga offerings via MoonPay, a financial tech company that reportedly has ties to Oseary’s Sound Ventures capital firm.
The complaint lists a total of 37 defendants, including Oseary, Yuga Labs and MoonPay executives, Reddit co-founder Alexis Ohanian, NFT artist Beeple, as well as more celebrities like Paris Hilton, Diplo, Future, Jimmy Fallon, Gwyneth Paltrow, DJ Khaled, and Madonna. The plaintiffs allege billions of dollars were generated through the misleading celebrity endorsements and “at no point did any of the defendants register these securities with the SEC.
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