According to the complaint, Game of Silks created a metaverse game that brought real-life horse racing to the blockchain, allowing users to invest in virtual versions of real racehorses and earn money based on the real-world performance of those horses. The complaint further alleges that the Game of Silks NFTs, which were first sold beginning in April 2022, are securities as defined by the Securities Act of 1933 (“Securities Act”), and as such required registration statements, which were never filed with the U.S. Securities and Exchange Commission (“SEC”). Game of Silks violated the Securities Act by selling and soliciting the sale of unregistered Game of Silks NFT securities.
Further, the complaint also alleges that the defendants made material misstatements and omissions in connection with the sale of the Game of Silks NFTs, including failing to disclose critical financial information about Game of Silks’ business model and sustainability.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
