Investors in Game of Silks NFTs Have Opportunity to Lead Securities Lawsuit

Game of Silks NFT Investors: Your Chance to Lead a Securities Class Action

Investors who purchased non-fungible tokens (NFTs) from Game of Silks are being urged to participate in a class action lawsuit by the Rosen Law Firm, a prominent advocate for investor rights. This action has highlighted notable issues regarding the compliance of the NFTs with U.S. securities laws, particularly surrounding their classification and sale.

What Happened?

In March 2025, the Rosen Law Firm issued a reminder for individuals who bought various Game of Silks NFTs - including Silks Avatar NFTs, Silks Horse NFTs, and Silks Land NFTs - that they may be eligible for legal compensation due to alleged violations of securities regulations. The deadline to become a lead plaintiff in this class action is April 25, 2025.

According to the lawsuit, Game of Silks developed a metaverse experience linked to real horse racing, allowing users to invest in digital horses whose success corresponds with their real-world race performance. However, the firm claims that Game of Silks misrepresented key business details, failing to register these NFTs as securities with the U.S. Securities and Exchange Commission (SEC), which they argue is a legal requirement.

The Securities Act of 1933

Under the Securities Act of 1933, the issuance and solicitation of securities necessitate registration with the SEC unless an exemption applies. The Rosen Law Firm asserts that Game of Silks marketed and sold these NFTs without fulfilling necessary legal obligations, contributing to the grievances of their purchasers.

Furthermore, the complaint alleges that critical financial information regarding Game of Silks’ business model was omitted from disclosures. Such omissions could have misled investors about the viability and potential returns connected to these NFTs, constituting material misstatements.

How to Participate in the Lawsuit

If you feel you have been adversely affected and wish to take part in the class action, the Rosen Law Firm encourages NFT purchasers to file a claim by April 25, 2025. Interested parties can visit Rosen Legal to submit their information, or contact attorney Phillip Kim directly by phone at 866-767-3653 or via email (`[email protected]`).

The opportunity to act as a lead plaintiff allows you to represent other affected investors and guide the litigation process. However, it's essential to note that the court must certify the class before legal representation is established; this means that, until formal certification, you may select any counsel of your choice or remain uninvolved.

Choosing Your Counsel

Investors are being advised to carefully choose their legal representatives, particularly emphasizing the importance of consulting experienced firms that have successfully managed similar cases in the past. The Rosen Law Firm has built a reputation for efficient large-scale settlements in securities class action cases, having recovered substantial amounts for investors in previous litigations.

In the legal community, the Rosen Law Firm stands out as a leading advocate, being recognized for its expert handling of class action lawsuits and securing noteworthy recoveries. The firm achieved the largest class action settlement against a Chinese company and has consistently ranked highly in terms of settlement success.

Conclusion

The unfolding developments surrounding the Game of Silks NFTs serve as a critical reminder for digital and virtual asset investors. Legal recourse is available for those who feel they have been misled or harmed, and participating in the upcoming class action lawsuit could be a vital step for affected investors. Stay informed, act swiftly, and ensure that your voice is heard during this important legal proceeding.

For further updates around this case, please follow the Rosen Law Firm’s social media channels on LinkedIn, Twitter, and Facebook. Remember, protecting your investment begins with being aware of your rights.