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Adidas, Celebrities Sued Over ‘Misleading’ Bored Ape NFT Promotions – Footwear News

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Adidas and a slew of celebrities, together with Paris Hilton, Stephen Curry and Serena Williams, have been named in a category motion lawsuit over their promotion of digital currencies and NFTs from Yuga Labs, together with its flagship NFT assortment Bored Ape Yacht Membership (BAYC).

The swimsuit, which was filed Thursday within the U.S. District Courtroom for the Central District of California, represents buyers who had been impacted from shopping for Yuga NFTs and its native token, ApeCoin, between April 23, 2021, via Dec. 8, 2022. The swimsuit seeks greater than $5 million for the impacted class.

To lure in buyers, Yuga allegedly used celebrities to “misleadingly promote” its NFTs, making these celeb promotions seem natural and unpaid. In accordance with the swimsuit, Yuga additionally misrepresented its development prospects, monetary possession and monetary advantages for buyers.

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