this post was submitted on 17 Aug 2023
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Leopards Ate My Face

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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.

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[–] minorninth@lemmy.world 41 points 2 years ago (4 children)

Wait...the article says they're still worth $50k each.

Really?

[–] dinckelman@lemmy.world 11 points 2 years ago

Collective delusion of people who still think they're holding onto something worth anything

[–] flucksy_bango@lemmy.world 7 points 2 years ago

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.

[–] TurtleJoe@lemmy.world 4 points 2 years ago

Presumably they're still useful for money laundering. Makes sense to keep some kind of price floor.