NFT Settlement DraftKings Pays $10M

DraftKings Settles NFT Class Action Lawsuit for $10 Million

• DraftKings agreed to a $10 million settlement in a class action lawsuit over NFTs.
• The lawsuit alleged DraftKings’ NFTs were unregistered securities.
• The settlement will cover legal fees, costs, and compensation for affected users.
• Lead plaintiff Justin Dufoe filed the suit in 2023.
• DraftKings Reignmakers, an NFT fantasy sports offering, was shut down following the lawsuit.
• The company facilitated over $280 million in trading volume for Reignmakers NFTs.

DraftKings has agreed to pay $10 million to settle allegations that its NFTs were unregistered securities. The settlement will compensate affected users and cover associated legal costs.