{"id":126759,"date":"2025-04-09T04:18:42","date_gmt":"2025-04-09T04:18:42","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126759"},"modified":"2025-04-09T04:18:42","modified_gmt":"2025-04-09T04:18:42","slug":"shaquille-oneal-gets-judges-greenlight-for-11m-astrals-nft-settlement","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126759","title":{"rendered":"Shaquille O\u2019Neal gets judge\u2019s greenlight for $11M Astrals NFT settlement"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsFormer NBA star Shaquille O\u2019Neal has been granted final court approval to settle a class-action lawsuit for $11 million with Astrals non-fungible token (NFT) buyers.<br \/>\nFlorida federal court judge Federico Moreno granted approval of the settlement between O\u2019Neal and the class group led by Daniel Harper in an April 1 order made available on April 8.<br \/>\nThe deal created a fund of up to $11 million for eligible class members and awarded $2.9 million in attorney fees and costs. All those who purchased Astrals NFTs from May 2022 to Jan. 15 and those who purchased the project\u2019s native GLXY tokens up until mid-January are eligible.\u00a0<br \/>\n\u201cThe fee sought by lead class counsel has been reviewed and approved as fair and reasonable by plaintiffs,\u201d Moreno\u2019s order read.<br \/>\nO\u2019Neal was hit with the lawsuit in May 2023 over his founding and promotion of the Solana-based Astrals NFT project, which the suit claimed was an \u201coffer and sale of unregistered securities.\u201d<br \/>\nThe class group said they bought Astrals NFTs and \u201csuffered investment losses\u201d due to O\u2019Neal\u2019s \u201cconduct\u201d in promoting the project.<br \/>\nIn August, Judge Moreno recognized that the class suit had alleged that the former NBA player was a seller of the NFTs. O\u2019Neal agreed to the settlement in November.<br \/>\nScreenshot from court order on final settlement. Source: CourtlistenerNFT sales slump<br \/>\nThe Astrals NFT collection consisted of 10,000 unique 3D digital collectibles created in April 2022 by the artist Damien Guimoneau in a Solana-based project that promoted a virtual world where users could socialize and play with others, including the basketball star.\u00a0<br \/>\nRelated: NFT sales plunge 63% in Q1, but Pudgy Penguins, Doodles buck trend\u00a0<br \/>\nThere has been no activity or sales from the collection for the past two years, according to NFT marketplace OpenSea.\u00a0<br \/>\nOverall, NFT sales are still in deep bear market territory, with just $27 million sold as of April 7, down from more than $2 billion per week at the end of 2021, according to CryptoSlam.<br \/>\nMagazine: 3 reasons Ethereum could turn a corner: Kain Warwick, X Hall of Flame<a href=\"https:\/\/cointelegraph.com\/news\/shaquille-o-neal-gets-ok-11-million-astrals-nft-settlement?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsFormer NBA star Shaquille O\u2019Neal has been granted final court approval to settle a class-action lawsuit for $11 million with Astrals non-fungible token (NFT) buyers. Florida federal court&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126759"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126759"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126759\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126759"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}