Pepe the frog NFT lawsuit where DAO promises to auction only one NFT, then gives away the rest
twist: the buyer was told that would happen right, but was "still glad" he bought it
Let’s dive into Thayer v. Furie, a federal lawsuit in Los Angeles over some frog NFTs.
The collection has essentially 100 NFTs. And PegzDAO marketed it like this:
So “ONE is being auctioned,” with the rest “remain[ing] in the PegzDAO.”
PegzDAO later tweeted that 1 Rare Pepe is going “to 1 member of PegzDAO,” and the “rest are being held indefinitely.”
Halston Thayer then bid 150 ETH (about $500K USD at the time) and won.
A couple weeks later, the defendants gave away 46 of the Rare Pepe NFTs for free, crashing the market.
Mr. Furie, Chain/Saw, and PegzDAO essentially agree with all of that. But Mr. Thayer leaves one thing out—he always knew that the 46 would be given away. And the defendants have the receipts:
A scheduling conference is set for July 29, 2022, and the case will get underway.
stego crypto and Warren Terzian LLP are tracking Thayer v. Furie and will report significant updates.