In “Celebrity NFTs May Raise Deceptive Advertising Issues,” published Sept. 2, 2022, by Law360, Partner Amy Mudge and Associate Lauren Bass address the pitfalls celebrities may face when creating or promoting non-fungible tokens (NFTs). A recent letter from consumer watchdog Truth in Advertising warned that “celebrities may be engaging in deceptive advertising practices in violation of the Federal Trade Commission Act by failing to disclose material connections to the non-fungible token brands they tout, as well as the risks associated with investing in volatile speculative digital assets such as NFTs,” Mudge and Bass write.
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