NBA Hall of Famer Shaquille O’Neal has settled an $11 million lawsuit over the failed Astrals NFT project.
Investors in Astrals claimed that the NFTs were linked to O’Neal’s popularity, and when he disassociated himself from the project, the market value dropped.
The settlement fund will repay investors who purchased the unregistered securities, including the GLXY governance token and Solana-based NFTs.
Other celebrities, such as Kim Kardashian and Larry David, have also faced issues with promoting unregistered digital assets.