Is everyone ready to cry into their beer?
Jul. 6th, 2023 03:49 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
thewayneJustin Bieber's Bored Ape NFT has gone from $1,290,000 to $56,000 in apparent value.
It's a good thing he's worth around $300mil or we might have to start a GoFundMe campaign for poor Justin!
You're sad for him, right?
Or like me, rolling on the floor laughing and endlessly amused?
A lot of people have bought into this idiotic NFT craze and lost a lot of money. But here is the question: did Bieber actually drop $1.3 x 10^6 on an NFT?
Asdie from Justin, people like Paris Hilton and other celebs bought into the Bored Ape NFT craze and hyped them to the end of the earth. Conan O'Brien was another celeb "purchaser". It's now being alleged that they did not buy these - that the company was using them as compensated promoters. The problem is that in addition to not paying for the NFTs, they also did not state that these are compensate endorsements!
THAT is something that the Securities and Exchange Commission takes a very dim view of!
Several celebs have been busted for doing compensated endorsements of NFTs and cryptocurrency and not making it plain that they're getting paid for it, and have had to pay some whopping fines. You'd think that they or their agent/people would know better. But apparently they're surrounded by a bunch of stupid and greedy people who like being investigated by the Federal Government.
https://gizmodo.com/justin-bieber-bored-ape-price-collapse-million-dollars-1850606250
It's a good thing he's worth around $300mil or we might have to start a GoFundMe campaign for poor Justin!
You're sad for him, right?
Or like me, rolling on the floor laughing and endlessly amused?
A lot of people have bought into this idiotic NFT craze and lost a lot of money. But here is the question: did Bieber actually drop $1.3 x 10^6 on an NFT?
Asdie from Justin, people like Paris Hilton and other celebs bought into the Bored Ape NFT craze and hyped them to the end of the earth. Conan O'Brien was another celeb "purchaser". It's now being alleged that they did not buy these - that the company was using them as compensated promoters. The problem is that in addition to not paying for the NFTs, they also did not state that these are compensate endorsements!
THAT is something that the Securities and Exchange Commission takes a very dim view of!
Several celebs have been busted for doing compensated endorsements of NFTs and cryptocurrency and not making it plain that they're getting paid for it, and have had to pay some whopping fines. You'd think that they or their agent/people would know better. But apparently they're surrounded by a bunch of stupid and greedy people who like being investigated by the Federal Government.
https://gizmodo.com/justin-bieber-bored-ape-price-collapse-million-dollars-1850606250
