Shaquille O'Neal Settles Astrals NFT Lawsuit for $11 Million

The NBA legend agrees to compensate investors over claims of promoting unregistered securities in his failed NFT project.

Shaquille O'Neal has agreed to an $11 million settlement to resolve a class-action lawsuit involving his promotion of the Astrals NFT project.
The lawsuit accused O'Neal of using his celebrity status to market 10,000 Solana-based NFTs, which were allegedly unregistered securities.
Investors claimed O'Neal abandoned the project after the collapse of the FTX exchange, leading to a significant drop in NFT value.
The settlement, pending court approval, aims to compensate affected investors and cover legal fees, potentially ending O'Neal's NFT legal issues.
Despite the project's decline, the Solana blockchain's native token has seen a substantial increase, over 300% in the past year.