By Philip Maina
2 months agoFri Oct 11 2024 11:09:00
Reading Time: 2 minutes
- The creators of the Meta Eagle Club have been sued for not keeping their promise
- Holders of NFTs in the collection claim that the Mega Eagle Club team had promised to create a metaverse-based club
- The team has yet to make any tangible progress on the promise more than two years later
The Meta Eagle Club NFT collection’s creators have been sued by a group of NFT holders who claim the project hasn’t kept its promise. The holders said that the project promised to create an exclusive metaverse -based club, something it’s yet to do more than two years later. In their complaint, the holders equate the Meta Eagle Club team’s actions to a scam , an accusation that comes at a time when the NFT space is battling a bearish momentum that has caused monthly sales volume to fall to 2021 lows.
Private Jet Flights Promised
The group claims that the project’s team hasn’t made any tangible progress on their promise, adding that they’ve also not substantially developed the NFT project since its launch in early 2022.
The holders also questioned the project team’s general expertise in blockchain technology, coding, and software development. Apart from an exclusive club in the metaverse, the team also promised extra perks like private jet flights and hot air balloon rides.
The group noted that most collectors were attracted by the perks causing them to suffer losses when the team failed to honor its promises and the project’s roadmap. They want to be compensated for their losses but want the court to assess the damage and determine the compensation.
Not the Only NFT Project To Be Sued
The lawsuit against the Meta Eagle Club NFT project comes roughly a month after NFT marketplace OpenSea was sued by users for dealing with unregistered securities. It also comes at a time when most NFT projects are considered dead due to a lack of activity from their creators and on collectibles exchanges .
With a group of the Meta Eagle Club NFT holders taking the project to court for failed promises, it’s to be seen whether the project’s team will compensate collectors or honor its promise.
