A group of NFT investors reported that they will file lawsuits due to the depreciation of the NFTs they have issued by famous names.
The NFT frenzy, which raged for a period, shakes the agenda with lawsuits filed against famous names. Many popular names launched their own NFTs at the time, generating huge revenues. However, the depreciation of the NFT sector and cryptocurrencies has led to incredible losses for interested investors. The latest development regarding the events is that a group of NFT investors will sue famous names.
There are 30 defendants named in the case
An NFT community, Sotheby’s Holdings Inc. and other names because of the drop in the price of collectible items approved by celebrities. The four plaintiffs named in the class action described the NFTs as “misleading.” It is stated that there are 30 defendants among the information about the case.
The lawsuit, which includes celebrities such as Justin Bieber and Paris Hilton, is generally described as profiting from false interest. The legal team of the plaintiffs stated that they are working intensively on the related complaints. Popular names such as Justin Sun and Paris Hilton have not yet made a statement on the subject.
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