Nelk Boys Say NFT Lawsuit Is Just Buyer’s Regret

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

Written by Aaron S.,

Editor-In-Chief

Last Updated: April 23, 2025

Key Takeaways

Nelk Boys argue the fraud lawsuit should be dropped since a full refund was offered and no specific lies were cited;
The $23 million Metacard NFT project is at the center of claims over unfulfilled perks and misleading updates;
Defense says regret alone is not fraud, and no clear false statements were made before the NFT sale.

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

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YouTubers Kyle Forgeard and John Shahidi, known as the Nelk Boys, are asking a California court to dismiss a lawsuit accusing them of misleading buyers in their Metacard non-fungible token (NFT) project.

The Metacard NFTs launched in January 2022, with 10,000 tokens priced around 0.8 ETH ETH $3,066.16 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.

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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.