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The Merge shifted the Ethereum blockchain from a PoW consensus mechanism to a proof-of-stake PoS consensus mechanism, which has reduced the network’s energy usage by about 99.5%. Ethereum now facilitates a 7-day average of over one-million transactions per day.
Bored Ape is seeing a massive case against it, including those that promoted it. Bored Ape Yacht Club NFT is now facing a significant class action lawsuit against its name, alongside its parent company, Yuga Labs.
Justin Bieber, Steph Curry, Snoop Dogg and More Named in Class Action Lawsuit Over Bored Ape NFT Endorsements: Taking aim at many celebrities for defrauding potential investors.
The class action lawsuit alleges that Yuga Labs leveraged a vast network of athletes and musicians to push the sales of their NFT collection.
In the latest blow for Yuga Labs, NFT collectors accuse the company of making false and misleading statements about its growth prospects.