The NFT market has suffered a significant collapse over the past two years, as digital art enthusiasts face plummeting NFT valuations. Corporate players like Nike and DraftKings have encountered legal challenges from dissatisfied buyers, with lawsuits surfacing for claims of damages due to abrupt shutdowns of NFT operations. High-profile figures such as Shaquille O'Neal also face legal repercussions related to the promotion of NFT assets, resulting in hefty settlements. These ongoing legal developments reflect a broader trend of dissatisfaction as the allure of NFTs fades.
The NFT lawsuit boom is shifting from market success to legal battles, with high-profile cases against Nike, DraftKings, and celebrities like Shaquille O'Neal.
NFT valuations continue to plummet with buyers seeking recourse through lawsuits after major corporations like Nike and DraftKings retract their investments in the market.
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