DraftKings has reached a $10 million settlement with users over NFT sale lawsuit

BlockBeats News, February 27th, according to Bloomberg, DraftKings Inc. has agreed to pay $10 million to settle a lawsuit alleging that the sports entertainment company violated state and federal securities laws in the sale of NFTs.

According to the brief, the proposed settlement funds will be distributed to users who purchased, held, or sold DraftKings NFTs from August 11, 2021, through the date of the judgment.

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DraftKings has reached a $10 million settlement with users over NFT sale lawsuit

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Machi sold off 31 BAYC at a loss in the past week, and the funds obtained have been lost entirely through contract trading.