It seems that celebrity endorsement, a good old fashioned cash grab, has become a little more sinister when it comes to digital marketplaces nowadays.
less than a month later Larry David’s Choice, tom brady Gisele BundchenAnd Stephen Curry Now-collapsed crypto firm was sued for bringing in its well-compensated star power to pitch ftxA new class action filed in federal court aims to move Golden State Warriors superstars and a pantheon of big names into the financial woodshed over shilling bored ape Yacht Club NFTs for hidden payments.
It’s an act that uncomfortably turns the spotlight not only on Curry, but again Kevin Hart, mother of jesus, Jimmy Fallon, Justin BiberParis Hilton, Serena Williams, DJ Khaled, Gwyneth Paltrow, even more. Universal TV is also being named as a defendant, as is the high profile music manager Guy Oseary Mentioned as the brains behind the whole alleged big bucks scam.
“Defendants’ promotional campaign was wildly successful, generating billions of dollars in sales and resales,” Adonis Real and Adam Ticher said in the lawsuit, filed Dec. 8 in US District Court in California. “Celebrity endorsements and misleading hype manufactured in connection with the launch of the entire BAYC ecosystem (the so-called Otherside Metaverse) were able to artificially inflate interest and value in BAYC NFTs during the relevant period, allowing investors to buy these lost investments . at vastly inflated prices,” adds the jury trial seeking the 10-claims trial (read it here,
essentially, on their various platforms, through public statements and in Fallon’s case the tonight show In late November 2021, Celebs publicly praised Yuga Labs-backed BAYC NFTs by claiming to be customers themselves. Now, the allure of non-fungible tokens may have waned (aka nosedived) in recent months, but with BAYC buyers jumping on board last year, they quickly proved that “at exorbitantly inflated prices.” Losing investments.”
“The truth is that the company’s entire business model depends on using fraudulent marketing and promotional activities from A-list celebrities, who are highly compensated (so called) to drive demand for Yuga securities by convincing potential retail investors that without disclosing). The digital asset will appreciate,” the 95-page fraud complaint said.
Osiris-Backed Crypto Company Working With Moonpay Era To Secretly Pay A-Listed Talent To Promote It Whole Scheme Sees Hart, Fallon, Paltrow Sell BAYC NFTs gave the seal of approval to unsuspecting celebs who often revealed the hefty compensation they received. ,
“During the Class Period, the Defendants engaged in a plan, scheme, conspiracy and course of conduct, pursuant to which they knowingly or negligently engaged in acts, transactions, practices and course of business, which on the Plaintiffs and Plaintiffs were conducted in the form of fraud and deceit. other members of the class,” the document declares. “In fact, Executive Defendants and Oseary used their connections to Moonpay and its service as a covert way to compensate Promoter Defendants for their promotion of the BAYC NFTs without disclosing it to unsuspecting investors. ,” it adds.
A spokeswoman for Comcast-owned Universal TV said the company does not comment on legal matters. “In our view, these claims are opportunistic and parasitic,” a Yuga Labs spokesperson said in a statement today. “We firmly believe they are without merit, and look forward to proving as much.”
San Diego-based attorney John T. Represented by Jasnoch, Plaintiffs Real and Tichter define the potential class that could be subject to a substantial action as anyone who invested in “Era Financial Products” between April 23, 2021 and now. They are seeking “actual, general, special, incidental, statutory, punitive and consequential damages and compensatory damages.”
And if you know what I mean, it would be in cold storage, US Treasury printed cash, not crypto?