Shaquille O’Neal has agreed to an $11 million settlement to dismiss a class-action lawsuit related to the Astrals non-fungible tokens (NFTs). The lawsuit stemmed from allegations that O’Neal improperly promoted the Astrals NFT project, which was linked to significant financial losses for investors after the NFTs declined in value. While O’Neal had stated that he was not distancing himself from the project, plaintiffs argued that his celebrity status was a key factor for many investors who purchased the NFTs. A Miami federal court judge had previously ruled that O’Neal was considered a seller of the NFTs, obligating him to respond to the claims. The settlement is pending court approval, and comes in a broader context of recovering NFT sales, which saw an increase in transaction volumes and values in recent months.

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