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.
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.
Wait…the article says they’re still worth $50k each.
Really?
Collective delusion of people who still think they’re holding onto something worth anything
It just means some moron is willing to pay that much
Yup!
My vinyl collection is “worth” $50k. I just have to find someone deluded enough to believe me and buy it.
In reality it’s worth ~$1k because they’re old and play music instead of being ugly pictures of monkeys.
Presumably they’re still useful for money laundering. Makes sense to keep some kind of price floor.