YouTuber's NFT project accused of fraud involving US$23 million
According to online reports, Cointelegraph filed a lawsuit against YouTuber group Nelk Boys in federal court in California. Plaintiff Trenton Smith accused Kyle Forgeard, John Shahidi and associated entertainment companies of failing to deliver on benefit promises from their Metacard NFT project. Benefits allegedly offered by the Nelk Boys include discounts on their own branded goods, participation in events with rapper Snoop Dogg, and a $250,000 gift to NFT holders. It is reported that the project cast 10,000 NFTs in January 2022, each selling for US$2,300. The project sold out within minutes, with total sales reaching US$23 million.
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