Shaquille O’Neal Finally Caves, Forced to Pay Millions In NFT Lawsuit Settlement

Shaquille O’Neal may have tried to avoid being served legal papers for a class-action lawsuit brought against FTX founder Sam Bankman-Fried and a host of celebrity spokespeople. But here is one crypto lawsuit he’s settled. NEW YORK, NEW YORK – MAY 18: Shaquille O’Neal, Inside the NBA, Turner Sports attends the Warner Bros. Discovery Upfront 2022 arrivals on the red carpet at The Theater at Madison Square Garden on May 18, 2022 in New York City. (Photo by Mike Coppola/Getty Images for Warner Bros. Discovery) The NBA Hall of Famer has agreed to pay $11 million to settle a class-action lawsuit involving the promotion of Astrals NFTs, AXIOS reported. The settlement, which is pending court approval, will compensate investors who suffered financial losses linked to these ventures. Here’s What Went Down The lawsuit centered on O’Neal’s endorsement of the Astrals NFT collection, a project featuring 10,000 digital collectibles designed for a virtual gaming world. Investors alleged that the former Los Angeles Lakers star’s celebrity status was used to market the assets, which later dropped in value. In August 2023, a Miami federal court judge ruled that the Astrals NFT plaintiffs had sufficient evidence to argue that O’Neal acted as a...