DraftKings agrees to $10 million settlement in NFT class action
DraftKings agreed to pay $10 million to settle a class-action lawsuit over NFTs sold through its now-closed marketplace. The proposed class covers customers who bought NFTs from 11 August 2021 until entry of judgment; the suit had proceeded after a federal judge ruled that the plaintiffs’ claims met the Howey Test threshold.
The settlement sets a stated payment for eligible NFT buyers and resolves litigation over DraftKings’ former marketplace.