Multiple celebrities facing lawsuit over promotion of ‘NFT’ images

A broad cast of celebrities is facing a lawsuit over their promotion of “non-fungible token” images, with the plaintiff alleging a “vast scheme” developed to sell the digital files.

The lawsuit, filed in a California district court this week, names a top-tier rundown of A-list celebrities in its complaint of an unlawful scheme to promote “Bored Ape” NFTs for sale. Those images were developed by Miami-based company Yuga Labs. 

The “promotional campaign,” run by defendants including Jimmy Fallon and Justin Bieber, was “wildly successful,” the suit argues, yet the “manufactured celebrity endorsements” and “misleading promotions” led investors to “purchase these losing investments at drastically inflated prices.”

The suit argues that the owners of Yuga Labs “disguised their control” of the company “to avoid scrutiny and facilitate this scheme” while “rak[ing] in millions.” 

“Meanwhile, investors were left with staggering losses,” the suit says. 

The filing asks for a jury trial to adjudicate the claims.