Singapore court bans sale of collateral Bored Ape NFT | Law

A generation ago, the Bored Ape Yacht Club would have been little more than a potential feature in Viz magazine, the simian characters given Geordie inflections while boozing and smoking fags.

But in the age of non-fungible tokens (NFTs) they are digital superstars worth millions, with A-list celebrities among their collectors.

And now a firm of London solicitors has made legal history by blocking the sale of a Bored Ape NFT, which is part of a series of images that is popular with stars. Singapore’s High Court last week granted a worldwide injunction to a man who had owned the NFT, which he used as collateral for a loan.

The ruling freezes the sale and ownership transfer by a “metaverse personality” of the rare NFT