Sotheby’s, a company that sells art, is part of a lawsuit with Bored Ape investors and NFT company Yuga Labs. The investors claim that Sotheby’s helped promote the NFTs in a misleading way. Sotheby’s made a statement saying the claims are not true and they will protect their company.
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The investors also said that Yuga Labs and celebrities like Post Malone and Paris Hilton raised the prices of NFTs in a fake way. Sotheby’s auctioned some of these NFTs in 2021 and made a lot of money, but they deny the claims.
Yuga Labs, the company behind the NFTs, also said the claims are false and without any proof. They think the case is an endeavor to exploit the emergency.
Before, Yuga Labs settled another lawsuit with a developer who copied their NFTs. They consented to quit utilizing comparable pictures and claiming to be associated with Yuga Labs.
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