Celebrity-endorsed NFTs leave some investors ?financially crippled?

He said he feels Mayweather and the other promoters “took their payouts and moved on while everybody who scraped by to invest in their futures got robbed.” The Bored Bunny team promised in its marketing materials that buyers could make “2x, 5x, maybe even 10x the value of [their] investment,” but the value of the NFTs attached to the images nose-dived after a brief spike and has yet to recover. It said its team had received death threats from angry Bored Bunny buyers, leading it to cut off communication with the community, and that it is developing initiatives “to grow the project to the best of our ability.” Other influencers, such as entrepreneur Gary “Vee” Vaynerchuk, have specifically called attention to the trend of public figures’ advertising NFTs despite having little understanding of how they work or the risks buyers face.“I don’t understand what these influencers are doing. He regularly publishes crowdfunded investigations exposing alleged cryptocurrency grifters and unscrupulous NFT promoters, including deep-dives into the Bored Bunny fiasco and Mayweather’s history of crypto shilling, which he called “highly irresponsible.”“It’s insane how much [celebrities and influencers] can make,” he said, adding that novice NFT investors too often put their trust in figures who “don’t have their interests at heart” and are “just preying on their wish to get rich without learning about the industry.”With few other options, a handful of burned investors have resorted to the courts to try to recoup their losses. Michael Rhodes, the lead counsel for Kardashian, said he believes the allegations against his client “are without merit” and said, “We will vigorously defend the case.”Despite losing money, it also doesn’t appear that fans of Mayweather or other celebrities are going to give up on NFTs or crypto.Tyler Lengyel, 29, a Bored Bunny investor from Texas, spent about $6,000 on Bored Bunny NFTs when the tokens were minted in January.