The NFL Players Association recently lost a multimillion-dollar arbitration over a failed trading card deal. Now the NFL Players Association is taking over the lawsuit.
The lawsuit, via ESPN.com, alleges that DraftKings intends to close the deal Which gave it the ability to use players’ names, images and likenesses in a non-fungible token business that is now on the verge of bankruptcy.
The case appears to be seeking damages of roughly $65 million. While the specific figure in dispute has been redacted from the last page of the civil complaint, the lawsuit separately alleges that five DraftKings executives have earned $261.1 million since 2021, describing that figure as nearly four times the amount the company owes the NFL Players Association. ($261.1 million divided by four equals $65.275 million.)
The union accuses DraftKings of inventing bogus reasons to get out of a deal that went bad after the NFT fad — which always seemed like more than just a simple mistake Fugazy – I collapsed.
A few years ago, someone explained to me that an NFT is the digital version of owning an original painting. Anyone can own a print; only one person can own an original painting.
The difference, of course, is that every digital copy of a photo or video looks identical to the original. The original painting is the tangible canvas on which the artwork was hand-painted.
My trading instincts are rarely accurate. I knew from the start that the NFT was a BFS collection. It seems DraftKings wasn’t, and now there’s a bill to pay, according to the NFLPA, that DraftKings is trying to avoid.
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