The class-action lawsuit alleged Maker-related entities misrepresented risks of holding collateral debt positions, resulting in heavy losses for some users.
Olta Andoni, general counsel at financial firm Enclave Markets, said artist Mason Rothschild was looking to “piggyback” off the French luxury brand’s reputation. But even artists who are creating digital art aren't free of consumer protection laws.
The suit involved the developer of websites and a smart contract to sell “misleading” RR/BAYC NFTs. There are separate ongoing cases regarding Ryder Ripps' use of Bored Apes' imagery.