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.
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.
In fairness, they didn’t buy the monkeys, they bought a spot on the blockchain that says they own the hyperlink to the picture of the monkey.
It’s pretty funny to think about if they didn’t bother to buy the actual domain that’s in the Blockchain. I hope they didn’t, and they get squatted later. That would make it even funnier.
I don’t know about that specific example, but people have had whats at the other end of the link changed after the sale. Like, instead of the monkey, now its goatse or something.
That’s why people sometimes prefer the URL to be an IPFS hash, that way the content is immutable. No guarantee that the content will always be available, but at least it can’t be changed.