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NFT Holders Sue Eden Gallery and Artist Gal Yosef for Failing to Deliver on Metaverse Perks
NFT Holders Sue Eden Gallery and Artist Gal Yosef for Failing to Deliver on Metaverse Perks
A group of 36 non-fungible token (NFT) holders has filed a lawsuit against Eden Gallery and artist Gal Yosef
A group of 36 NFT holders is suing Eden Gallery and artist Gal Yosef over undelivered metaverse perks.
The class action lawsuit was filed on October 9 in a New York federal court. It alleges that Eden Gallery and Yosef failed to deliver on promises linked to their Meta Eagle Club NFT collection, in what the plaintiffs are describing as a “rug pull” scam.
The lawsuit claims that the Meta Eagle Club project collected around $13 million from the sale of 12,000 unique NFTs between February 2022 and November 2023. However, the plaintiffs allege that the project failed to fulfill its promises.
According to the complaint, the Meta Eagle Club NFTs were وعدت with access to a private metaverse club and exclusive experiences such as hot air balloon rides and art events. The lawsuit alleges that despite these promises, little progress was made in building the Meta Eagle Club.
The complaint also highlights that the creators of the Meta Eagle Club NFTs did not have any experience in blockchain or software development. This, the plaintiffs argue, casts further doubt on the legitimacy of the project.
The Meta Eagle Club’s roadmap promised a range of perks for token holders, including access to luxury experiences and exclusive artwork. However, the plaintiffs claim that only a few tickets and artworks were provided. They further allege that the budget was reallocated in early 2023 due to market conditions.
The lawsuit alleges common law fraud, unjust enrichment, and violations of the New York General Business Law. It seeks damages for the plaintiffs and a jury trial.
Eden Gallery and Yosef have not yet responded to the allegations in the lawsuit.
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