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Kevin Hart, Gwyneth Paltrow, Madonna, Jimmy Fallon Sued For NFT Endorsements – KristenBellTattoos.com

It seems that a good old fashioned cash grab celebrity endorsement has become a bit over the top when it comes to the digital marketplace these days.

Less than a month after Larry David, Tom Brady, Gisele Bündchen, and Stephen Curry were sued for pitching their well-paid star power, now-defunct cryptocurrency firm FTX is in federal court. A new class action filed aims to take down the Golden State. Warriors Superstar and Big Names in Financial Forestry on Board Appy Yacht Club NFTs for Hidden Fees

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It’s a process that uncomfortably shines a light not only on Curry, but also on Kevin Hart, Madonna, Jimmy Fallon, Justin Bieber, Paris Hilton, Serena Williams, DJ Khaled, Gwyneth Paltrow, and more. Also named as a defendant alongside Universal TV, high-profile music manager Guy Ossery is described as the mastermind behind the entire alleged big-money scam.

“Defendants’ advertising campaign was extremely successful, generating billions of dollars in sales and resales,” says the lawsuit filed Dec. 8 in U.S. District Court in California by Adonis Real and Adam Ticher. “Celebrity endorsements and misleading promotions created around the launch of the entire BAYC ecosystem (the so-called Otherside metaverse) were able to artificially increase interest and value in BAYC NFTs during the relevant period, leading to Investors were buying these lost investments. at exorbitant prices,” the 10-claim suit seeks to add to the jury trial ( read it here ).

Mainly, on their various platforms, through public statements and in Fallon’s case on The Tonight Show In late November 2021, celebrities publicly praised Yoga Labs-backed BAYC NFTs, claiming to be customers themselves. Now, the allure of non-fungible tokens may have waned considerably in recent months (a.k.a. nosedive), but for BAYC buyers who jumped on board last year, they quickly proved to be “highly inflated capital. Kari is losing.”

“The truth is that the company’s entire business model relies on the use of insidious marketing and promotional activities by A-list celebrities who are highly paid (without disclosing such), to siphon off potential retail capital. Demand for Yoga Securities could be increased by convincing buyers that their value would appreciate as digital assets,” the 95-page fraud complaint said.

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With Oseary-backed crypto company Moonpay making secret payments to A-listed talent working with yoga, the whole scheme got Hart, Fallon, Paltrow to seal BAYC NFTs without revealing it to the celebrities. Except they were receiving huge compensation. .

“During the class period, defendants engaged in a plan, scheme, conspiracy, and course of conduct whereby they knowingly or recklessly engaged in acts, transactions, practices, and courses of business with plaintiffs.” acted as fraud and deceit. Other members of the class,” the document declares. “In fact, the Executive Defendants and Oseary used their connections to MoonPay and its service as a covert method to compensate the Promoter Defendants for their promotions of the BAYC NFTs without disclosing them to unsuspecting investors. can be given.” It says more.

A spokeswoman for Comcast-owned Universal TV said the company does not comment on legal matters. “In our view, these claims are opportunistic and spurious,” a Yoga Labs spokesperson said in a statement today. “We firmly believe they are without merit, and look forward to proving as much as possible.”

Represented by San Diego-based attorney John T. Jasnovich, plaintiffs Real and Toucher have described a potential class action that could be a very valuable one because all those who, between April 23, 2021 and now, “yoga Invested in Financial Products”. They are seeking “actual, general, special, incidental, statutory, punitive, and consequential damages and compensation.”

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And it would be in cold hard US Treasury print cash, not crypto, if you know what I mean?

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#Kevin #Hart #Gwyneth #Paltrow #Madonna #Jimmy #Fallon #Sued #NFT #Endorsements #KristenBellTattoos.com

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