Sotheby’s Holdings has been named in a lawsuit led by investors with the Bored Ape Yacht Club against non-fungible tokens (NFT) company Yuga Labs.
"The allegations in this suit are baseless, and Sotheby's is prepared to vigorously defend itself," Sotheby’s said in a statement sent to FOX Business."On background, ARTnews reported in 2021 Sotheby’s specialist Michael Bouhanna saying that there were legacy art collectors participating in the sale – which doesn’t necessarily mean the buyer—and there were 13 total bidders in that sale," the statement added.
A representation of cryptocurrency Ethereum is seen next to non-fungible tokens of Yuga Labs"Bored Ape Yacht Club" collection displayed on its website, in this illustration picture taken March 24, 2022.
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