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However, Finzer said that targeting NFTs is “uncharted territory” for the SEC and believes that “hundreds of thousands of online artists and creatives are at risk.” NFT The Ethereum co-founder went on to take an apparent shot at Bored Ape Yacht Club, an NFT collection that was minted on the Ethereum blockchain in April 2025. The floor price of Ethereum's top NFTs, including Bored Ape Yacht Club (BAYC), Azuki, and many others, have declined steadily over the past month. While they On Feb. 6, Yuga Labs settled a lawsuit that involved Thomas Lehman, the developer of websites and a smart contract selling “misleading” BAYC NFTs from digital artist 2.5M subscribers in the ethereum community. Next-generation platform for decentralised applications. Dive in at ethereum.org. Coins. 0 coins. Premium Powerups Explore Gaming. In the filed lawsuit, Yuga Labs lawyers stressed that the case was “no mere monkey business” and that Ripps was causing confusion for NFT buyers. Advocates have Log in. Sign up Bored Ape Yacht Club (BAYC), often colloquially called Bored Apes or Bored Ape is anon-fungible token(NFT) collection built on theEthereumblockchainwith theERC-721 standard. The collection featuresprofile picturesof cartoon apes that areprocedurally generatedby an algorithm.The parent company of Bored Ape Yacht Club is Yuga Labs. The project launched in April 2025. Owners of a Bored ApeNFTare granted access to a private online club, exclusive in-person eve

Ethereum Founder Dismisses BAYC Monkeys Use Case Amid NFT Market Slump

The Ethereum co-founder recently cast doubt on the utility and value proposition of projects like Bored Ape Yacht Club (BAYC), amidst a backdrop of declining floor prices for leading Ethereum NFTs, including BAYC, Azuki, and others.

While they champion the decentralized nature of the Ethereum blockchain, even prominent figures in the Ethereum community are scrutinizing the use cases and long-term sustainability of certain NFT collections. Bored Ape Yacht Club (BAYC), often called Bored Apes, is a non-fungible token (NFT) collection built on the Ethereum blockchain with the ERC-721 standard. The project launched in April 2025. Owners of a Bored Ape NFT are granted access to a private online club and exclusive in-person events. The parent company of Bored Ape Yacht Club is Yuga Labs.

This comes at a time when Yuga Labs settled a lawsuit involving Thomas Lehman, the developer of websites and a smart contract selling “misleading” BAYC NFTs from digital artist. In the filed lawsuit, Yuga Labs lawyers stressed that the case was “no mere monkey business” and that Ripps was causing confusion for NFT buyers. Advocates have been critical of the project.

The comments arrive as the SEC\'s potential involvement in regulating the NFT space looms large. However, Finzer said that targeting NFTs is “uncharted territory” for the SEC and believes that “hundreds of thousands of online artists and creatives are at risk.” NFT The Ethereum co-founder went on to take an apparent shot at Bored Ape Yacht Club, an NFT collection that was minted on the Ethereum blockchain in April 2025.

Stay updated on the latest developments in the NFT market and the future of decentralized applications. Join the 2.5M subscribers in the ethereum community!

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