Rosen Law Firm, a global investor rights law firm, announces that a Game of Silks NFT purchaser filed a class action lawsuit on behalf of all purchasers of Game of Silks non-fungible tokens (“NFTs”), including Silks Avatar NFTs, Silks Horse NFTs, and Silks Land NFTs, and who were damaged thereby. According to the complaint, the defendants “created a company to build a computer game called Game of Silks that brought real-life horse racing to the metaverse.”

For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.

The Allegations: Rosen Law Firm is Investigating the Allegations that Game of Silks Misled Investors Regarding its Business Operations.

According to the lawsuit, 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 the company’s business model and sustainability.

What Now: You may be eligible to participate in the class action against Game of Silks, Inc. NFT purchasers who want to serve as lead plaintiff for the class must file their motions with the court by April 25, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders.

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