- A group of investors in Bored Ape NFT sued everyone, including Justin Bieber and Paris Hilton, for defrauding them.
Bored Ape NFT are digital images of monkeys with neutral facial expressions. By early 2022, they were in high demand and selling for millions of dollars. But lately the prices of Bored Ape NFT have plummeted. A single buyer lost over $20 million after buying over 100 such images.
Investors in Bored Ape NFT are angry with Justin Bieber and Paris Hilton, who promoted these images on social media. They claim that Bieber and Hilton advertised the NFT without saying they were being paid for it.
- But in my opinion, Bored Ape NFT investors are the ones who should be upset with themselves. Okay!!! i guess you are wondering why i would say that!!!
Yep!! well it's simple ~ When you get your financial information from Justin Bieber and Paris Hilton, you clearly have a problem. NFT are a speculative and risky product. If you invest in them, you must be prepared to lose money.
You can't sue the celebs who cheated on you because you were the one who was stupid...or taking into account that we are free on this earth we can possibly play in this way.
So, if you want to invest in NFT, think twice. And if you do, don't rely on the advice of Justin Bieber or Paris Hilton or any other star who is willing to repeatedly tarnish their public image for money.
Ok, this is not surprising. NFT are a risky investment. Any investment where you can lose all your money is a risky investment. Of course, there are also risky investments that are profitable. But generally, if you take a risky investment and lose money, you can't sue anyone. Investing is a business ~ like any business, you can win or you can lose. I expect many cases like this to appear before the end of this year.
Don't invest money you can't afford to lose. Do your own research before investing even the most precious ~ don't rely on the advice of celebrities or influencers and just think 😊of Elon Musk 🤺🛡️👀when you do this.
P.S. ~ Be careful try to stay away from the delusional simplistic JPEGs and MPEGs offered as NFT. It should stand to reason that no one will buy you a pixelated dot registered as an NFT if it could be easily reproduced.
