Shaq takes the L on NFT lawsuit, agrees to pay $11 million
Astrals featured 10,000 “metaverse-ready avatars” on solana.
Shaquille O’Neal is putting his NFT problems behind him.
The basketball legend and celebrity DJ agreed to an $11 million settlement following a lawsuit brought by investors in Astrals, a failed Solana-based NFT project that touted 10,000 “metaverse-ready avatars.” That’s according to Decrypt, which reports that if the settlement is approved by the court it would resolve Shaq’s NFT-related legal troubles.
Shaq and his son launched Astrals in March of 2022. The suit claimed that investors in the project had purchased unregistered securities, which Shaq reportedly hyped at his gigs as “DJ Diesel.”
While Astrals may have lost steam, its home blockchain’s native token is on fire: solana is up more than 300% over the past year.
