Showing 1–3 of 3
The lawsuit against BIG3 could set a precedent for NFT ownership disputes, impacting future token-based investment models and legal strategies. The post BIG3 faces lawsuit from NFT buyers over alleged unfulfilled promises of team ownership appeared first on Crypto Briefing.
The post BIG3 NFT Buyers Sue Ice Cube’s Basketball League Over Alleged Unfulfilled Promises appeared on BitcoinEthereumNews.com. In brief Owners of BIG3 NFTs have sued Ice Cube’s 3-on-3 professional basketball league over allegedly unfulfilled promises. NFT purchasers, who paid as much as $25,000 apiece, expected to earn a share of team sales and get other benefits. The suit alleges they haven’t, and seeks damages and restitution as BIG3 aims to go public via SPAC deal. NFT buyers expecting to have some ownership stake in professional 3-on-3 basketball teams from rapper and actor Ice Cube’s BIG3 league have filed a class action lawsuit against the league in the Superior Court of California—challenging the league’s past promises as it prepares to go public. The suit, filed last July but first reported by Front Office Sports and publicized by attorneys on Tuesday, alleges “deceptive, fraudulent, and illegal marketing” by the league as part of its “offering and sale of unregistered securi
Investors who purchased BIG3 NFTs expected the perks of team ownership, but allege "deceptive, fraudulent" marketing was at play.
