DraftKings Dumps NFT Business, Citing Legal Developments
Sports activities playing firm Draftkings is shutting down its non-fungible token (NFT) enterprise “efficient instantly,” the corporate stated in an e-mail to prospects, ending a high-flying crossover between digital collectibles and sports activities tradition.
“After cautious consideration, DraftKings has determined to discontinue Reignmakers and our NFT Market, efficient instantly, on account of latest authorized developments. This resolution was not made flippantly, and we consider it’s the proper plan of action,” the e-mail stated.
Weeks in the past, a federal choose allowed a category motion lawsuit in opposition to DraftKings to proceed after discovering plaintiffs “plausibly pled” DraftKings’ NFTs have been unregistered securities, in keeping with Westlaw.
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