Shaquille O'Neal inks $11 million settlement in NFT suit

Catch up fast: The issue in question is the Astrals NFT project. It had both a collection of NFTs and a governance token. The token was meant to serve as votes in a decentralized autonomous organization, known as a DAO.

• A federal district court in Florida had found that the assets were plausibly securities — and unregistered — and that O'Neal played a noteworthy role in the project.

The latest: The settlement, pending approval from the judge, would put an end to a putative class-action lawsuit.

• The $11 million would go to purchasers that had lost money on the NFTs and tokens, as well as cover the plaintiffs' attorney fees, DL News reported.

Zoom out: The NFTs can still be seen on OpenSea, but the website is gone.

• They appear to have been designed as some sort of 3D character for a game world.

The bottom line: O'Neal, a frequent pitchman, is likely worth hundreds of million of dollars, so this is not much more than the cost of doing business.