A federal class-action lawsuit against basketball icon Shaquille O’Neal has taken a significant turn as an amended 111-page complaint was filed. The lawsuit alleges that O’Neal violated securities laws related to his Solana-based NFT project, Astrals. The lead plaintiff, appointed by District Judge Federico Moreno, now represents all investors, adding more gravity to the legal battle.

The updated complaint doubles down on the initial allegations and includes deleted videos and tweets, suggesting O’Neal’s frequent contact with the Astral team. The lawsuit claims that the project’s value relied heavily on O’Neal’s celebrity status. However, his association with the project mysteriously dwindled following the collapse of crypto exchange FTX last November.

This lawsuit sheds light on the legal complexities surrounding NFTs and celebrity endorsements, setting a precedent for future cases in the evolving digital asset space. It underscores the need for clarity in the regulatory landscape as NFTs straddle the line between digital assets and collectibles. O’Neal’s sudden disconnection from the Astrals project has left investors seeking answers and highlights the potential legal challenges that celebrities endorsing digital assets might face.