- Plaintiffs allege Steve Aoki and DraftKings co-founder Matthew Kalish promoted Metazoo NFTs without disclosing paid ties.
- The suit, led by buyer Evan Berger, claims losses in the tens of millions after tokens became worthless.
- Metazoo — originally a collectible card game maker — sold Metazoo Coin NFTs that once traded for roughly 20 ETH per set.
- Aoki became an equity partner in MetaZoo in 2021 and worked on a collectible card series tied to his music.
H2: What the lawsuit says
A class-action complaint filed in Miami alleges that DJ Steve Aoki and Matthew Kalish, co-founder of DraftKings, used their social-media influence to promote Metazoo NFTs without disclosing they were paid. The lead plaintiff, Evan Berger, says he bought and held at least 26 Metazoo tokens after seeing endorsements and has since suffered significant losses. According to reporting on the case, plaintiffs say total losses run into the tens of millions of dollars.
H3: Background on MetaZoo and the NFTs
MetaZoo Games LLC launched as a tabletop collectible card-game company and later expanded into skateboards, apparel and non‑fungible tokens (NFTs). At the market peak for some Metazoo items, a full set of 10 Metazoo Coin NFTs traded for about 20 Ethereum — roughly $80,000 at that time, the complaint notes. Plaintiffs argue that early promotions, some involving celebrities, inflated demand and prices before the token values collapsed.
H3: Aoki’s ties to MetaZoo
Steve Aoki became an equity partner in MetaZoo in 2021. The company and Aoki later collaborated on a physical collectible-card series to accompany his HiROQUEST: Genesis album. In past interviews Aoki has said NFTs were a meaningful revenue source; in 2022 he claimed he had made more from NFTs than from a decade of music advances.
H2: The legal claims and disclosure rules
The suit centers on alleged failures to disclose paid promotions and on whether influencer endorsements misled buyers. Plaintiff Evan Berger told reporters that there are specific rules intended to protect consumers and that influencers must understand disclosure requirements. If the court finds the promotions were undisclosed paid endorsements, that could form the basis for fraud, consumer protection and securities-related claims in the class action.
H3: Status and responses
As of publication, Aoki has not publicly commented on the lawsuit. The complaint names Kalish and Aoki among others tied to MetaZoo promotions. MetaZoo has previously marketed both digital and physical products tied to celebrities and musicians.
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Instagram post referenced by the source: https://www.instagram.com/p/DTVouUGkapa/?img_index=1
H4: Why it matters
The case highlights ongoing scrutiny of influencer marketing in crypto, especially around non fungible tokens. Plaintiffs say undisclosed paid promotions can inflate demand and leave retail buyers holding devalued digital assets. The lawsuit will test how disclosure rules apply to celebrity endorsements in the NFT space.
Image Referance: https://stereogum.com/2484982/steve-aoki-sued-over-worthless-nfts/music
