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Shaq’s NFT Legal Drama Ends
Basketball legend Shaquille O’Neal just closed an expensive chapter in his crypto journey. A Florida federal judge gave the green light for Shaq to settle an $11 million lawsuit tied to his failed Astrals NFT project.
Shaq, who co-founded the Solana-based Astrals NFT collection, faced accusations of selling unregistered securities. Buyers claimed they lost money because of his promotion of the project.
Who Gets Paid?
The deal creates an $11 million fund for people who bought Astrals NFTs or its token, GLXY, between May 2022 and January 2024. Out of that, $2.9 million will go straight to attorney fees. The rest is up for grabs by affected investors.
Judge Federico Moreno called the settlement “fair and reasonable” — basically giving Shaq the legal slam dunk he needed.
What Happened to Astrals?
Astrals was a 10,000-piece NFT collection created with cool 3D art and big promises of a virtual social world. But like many NFT projects, it fizzled out fast. According to OpenSea, there’s been no activity or sales for almost two years. Ghost town vibes.
NFTs Still in a Bear Market
This case highlights the ongoing struggles of the NFT market. Sales volume dropped 63% in Q1 2025. Only a few projects like Pudgy Penguins managed to stay afloat.
Looks like Shaq’s NFT experiment might go down as one of the most expensive missed shots in crypto history.
