The NFL Players Association recently lost a multimillion-dollar arbitration claim over a trading-card deal gone bad. Now, the NFLPA is suing.
The lawsuit, via ESPN.com, argues that DraftKings wants to cancel the contract It gave the ability to use the player’s name, image and likeness to trade for a non-fungible token that went belly up.
The lawsuit appears to be seeking about $65 million in damages. Although the specific number in dispute has been redacted from the final page of the civil complaint, the lawsuit separately indicates that five DraftKings executives earned $261.1 million through 2021, a number that marks nearly four times the amount the company owes the NFLPA. . ($261.1 million divided by four is $65.275 million.)
The union accused DraftKings of creating bogus reasons to get out of a deal that went sour after the NFT fad — which always seemed like a bit much. fugitive — fell apart.
Several years ago, someone explained to me that an NFT is a digital version of an original painting. Anyone can have a print; Only one person owns the original.
The difference, of course, is that every digital copy of a photo or video looks identical to the original. An original painting is the actual canvas on which the art was created by hand.
Rarely have my business instincts been right. I knew from the start that NFT was loads of BFS. DraftKings apparently didn’t, and now has to pay a bill that, according to the NFLPA, DraftKings is trying to avoid.
