NEWSLETTER
The former NBA star, Shaquille O'Neal, received the final approval of the Court to resolve a collective claim for $ 11 million with non -fungible token buyers (nft) of astral.
The Judge of the Federal Court of Florida, Federico Moreno, granted the approval of the Agreement between O'Neal and the class group led by Daniel Harper in an order of April 1 available on April 8.
The agreement created a fund of up to $ 11 million for eligible members of the class and granted $ 2.9 million in fees and costs of lawyers. All who bought Astrals nfts from May 2022 to January 15 and those bought by the native project tokens of the project are eligible.
“The rate requested by the lawyer of the main class has been reviewed and approved as fair and reasonable by the plaintiffs,” said Moreno's order.
O'Neal was beaten with the demand in May 2023 on its foundation and promotion of the Astrals nft project based in Solana, which the demand said it was an “supply and sale of unregistered values.”
The class group said they bought nft astral and “suffered investment losses” due to the “behavior” of O'Neal in the promotion of the project.
In August, Judge Moreno acknowledged that class demand had claimed that the former NBA player was an nfts seller. O'Neal agreed on the agreement in November.
Screen capture of the court order on the final agreement. Source: Courtlistener
nft sales in deep bears market territory
The Astrals nft collection consisted of 10,000 unique 3D digital collectibles created in April 2022 by the artist Damien Guimoneau in a Solana -based project that promoted a virtual world where users could socialize and play with others, including basketball star.
Related: nft sales immers themselves 63% in Q1, but P
There has been no activity or sales of the collection during the last two years, according to the nft OpenA market.
In general, nft sales are still in the territory of Deep Bear Market, with only $ 27 million sold to April 7, below more than $ 2 billion per week at the end of 2021 according To Cryptoslam.
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