Nelk Boys Fire Back, Say NFT Lawsuit Is Just Buyer’s Regret

The Metacard NFTs launched in January 2022, with 10,000 tokens priced around 0.8 ETH ETH $2,183.09 each—roughly $2,300 at the time. The project raised about $23 million in total.

The case, brought on January 29 on behalf of people who bought the NFTs, claims the two promoted the Metacards by promising special perks and access to a private community, which the plaintiff said never fully materialized.

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is Ethereum 2.0? Upgrades Easily Explained With Animations

SUBSCRIBE

ON YOUTUBE

It also accuses them of continuing to share misleading updates after the sale, in an attempt to prevent buyers from realizing they had been misled.

However, the Nelk Boys’ legal team stated that the lawsuit does not meet basic legal standards for fraud. Their lawyers argued that the plaintiff was offered a full refund with interest after the NFT market fell—and turned it down.

The lawsuit also fails to name any specific false statements made before the Metacards were sold. Their attorneys wrote:

Plaintiff may regret his purchase—and turning down a full refund. But regret does not plead fraud. The complaint should be dismissed.

Meanwhile, Perplexity, an AI-powered search company, recently took a stance in the ongoing antitrust case against Google. What did the company say? Read the full story.