Shaquille O'Neal Settles NFT Lawsuit for $11 Million

NBA legend Shaquille O'Neal has agreed to an $11 million settlement to resolve a class-action lawsuit concerning the Astrals NFT project. The lawsuit alleged that Astrals, promoted by O'Neal, misled investors with unfulfilled promises about the project's digital assets. While O'Neal denied wrongdoing, the settlement closes his involvement in the legal battle.

Astrals was a high-profile NFT initiative that aimed to deliver unique digital goods but fell under scrutiny for failing to meet expectations, leading to significant losses for some investors. This case underscores the increasing regulatory and transparency challenges in the NFT and broader crypto markets, as public figures continue to face accountability for their endorsements.