Leopards Ate My Face

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Purchasers of worthless digital monkeys sue worthless digital monkey auction house after realizing that worthless digital monkeys are worthless (arstechnica.com)

submitted 2 years ago* (last edited 2 years ago) by LeanFemurs@lemmy.world to c/leopardsatemyface@lemmy.world

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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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[–] ChickenLadyLovesLife@lemmy.world 17 points 2 years ago

Back in the mid-90s I had a friend who inherited $40,000 from her grandmother and spent all of it on $75 Fossil watches, the kind that were based on old cartoons like Popeye etc. And it took her a while to do it since she would drive to malls within a few hours of her and clean out the department stores that carried them. That's over 500 watches, a few at a time.

She was adamant that this was an excellent investment, but these are on eBay now for $50 to $60. At parties she would pull out the collection and start showing them to people (no touchy, of course) as if there was something intrinsically interesting about a cartoon Fossil watch. The sad thing is, with $40,000 in hand she probably could have bought two or three times as many from a wholesaler and maybe eventually actually have made some money.