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in Tech

Yuga Labs May Land in Legal Case Over Claims of Manipulating NFT Buyers

by Editor July 25, 2022, 6:38 am 1.7k Views

Yuga Labs Accused of Manipulating Buyers With Inflated Prices, Celeb Endorsements in Proposed Lawsuit

Law firm Scott+Scott has proposed a class-action lawsuit, alleging that NFT firm Yuga Labs has manipulated buyers into investing in its digital collectibles. Yuga Labs is the creator of the popular Bored Ape Yacht Club (BAYC) NFTs and its native token is called the ApeCoin, which is currently priced $6.31 (roughly Rs. 500). The proposed lawsuit claims that Yuga Labs roped in celebrities to promote and ‘inflate’ the prices of BAYC NFTs as…

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