{"id":11839,"date":"2023-10-02T01:09:40","date_gmt":"2023-10-02T01:09:40","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2023\/10\/02\/shaquille-oneal-faces-lawsuit-over-solana-based-nft-project-astrals-nft-news-today-2\/"},"modified":"2023-10-02T01:09:40","modified_gmt":"2023-10-02T01:09:40","slug":"shaquille-oneal-faces-lawsuit-over-solana-based-nft-project-astrals-nft-news-today-2","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2023\/10\/02\/shaquille-oneal-faces-lawsuit-over-solana-based-nft-project-astrals-nft-news-today-2\/","title":{"rendered":"Shaquille O\u2019Neal Faces Lawsuit Over Solana-Based NFT Project Astrals – NFT News Today"},"content":{"rendered":"

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NBA legend Shaquille O\u2019Neal is currently embroiled in a legal battle over his involvement in the Solana-based NFT project Astrals. The lawsuit, which has been updated to strengthen the case, alleges that O\u2019Neal violated securities laws<\/a> in his association with the project.<\/p>\n

A district judge in Florida appointed lead plaintiffs, who have selected the Moskowitz firm to represent them. Managing partner Adam Moskowitz stated, \u201cThis is a very big advancement because it highlights that they run the show for all the investors and they have selected us to be class counsel.\u201d<\/p>\n

O\u2019Neal\u2019s Role in Astrals<\/h2>\n

Astrals<\/a>\u00a0is an NFT project built on the Solana blockchain, offering 10,000 unique 3D avatars. The project is community-driven and promises play-to-earn role-playing games, as outlined in its whitepaper.<\/p>\n

The revised complaint in the lawsuit makes a compelling case regarding O\u2019Neal\u2019s involvement with Astrals. It alleges that O\u2019Neal was in frequent contact with Astrals, indicating a significant personal commitment to the project. Additionally, it highlights the involvement of O\u2019Neal\u2019s business partner and son in Astrals, suggesting deeper connections than initially assumed.<\/p>\n

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What the Lawsuit Claims<\/h2>\n

The lawsuit asserts that O\u2019Neal\u2019s association with Astrals boosted the project\u2019s value due to his celebrity status. However, it alleges that O\u2019Neal disappeared from the Astrals community after the fall of FTX last November. His final post in the Astral Discord community featured a GIF from the film \u201cThe Wolf of Wall Street\u201d with the phrase \u201cI\u2019m not [explicit] leaving.\u201d<\/p>\n

While the lawsuit currently does not name Astrals\u2019 partners, Cypher Capital and MH Ventures, Moskowitz indicated that they would be served as the case progresses. He noted that third-party subpoenas may be issued when appropriate.<\/p>\n

In July, O\u2019Neal\u2019s legal team sought to have the lawsuit dismissed, arguing that the digital assets in question were intended for gamers, not investors. However, their motion was denied in August, with the court setting a deadline of September 29 for O\u2019Neal to respond.<\/p>\n

Conclusion<\/h2>\n

Shaquille O\u2019Neal\u2019s legal troubles regarding his involvement with Solana-based NFT project Astrals continue to unfold. The lawsuit alleges violations of securities laws and highlights O\u2019Neal\u2019s substantial personal connection to the project. As this case progresses, it remains a significant development in the world of NFTs and celebrity endorsements within the blockchain space.<\/p>\n<\/div>\n

Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

NBA legend Shaquille O\u2019Neal is currently embroiled in a legal battle over his involvement in the Solana-based NFT project Astrals. The lawsuit, which has been updated to strengthen the case, alleges that O\u2019Neal violated securities laws in his association with the project. A district judge in Florida appointed lead plaintiffs, who have selected the Moskowitz […]<\/p>\n","protected":false},"author":1,"featured_media":11840,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[9],"tags":[21],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/nftnewstoday.com\/wp-content\/uploads\/2023\/10\/LOGO-UNIVERS.png","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/11839"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=11839"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/11839\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/11840"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=11839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=11839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=11839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}