Steve Aoki accused of influencing purchases of ‘worthless’ NFTs
When the bass drops but the JPEG doesn’t—Steve Aoki faces legal heat over hyped NFTs, influencer rules, and a crypto scheme.
Prominent DJ Steve Aoki is now in the spotlight for a different reason. He has been named in a class action lawsuit related to promoting allegedly “worthless” NFTs. The case is filed in federal court in Miami. It accuses the DJ and entrepreneur of encouraging fans to invest in digital assets worth $150,000 from MetaZoo that have since lost most of their value.
The lawsuit claims that Aoki, along with DraftKings co-founder Matthew Kalish, promoted NFTs linked to MetaZoo, a now-defunct trading platform. According to the complaint, their social media influence significantly drove purchases. Followers reportedly thought these endorsements were genuine and not paid promotions.
Plaintiffs say the promotional posts did not reveal financial compensation, which is important under consumer protection laws. Some NFTs from the project were priced in the six-figure range, only to allegedly become worth little more than bragging rights and a place in the digital graveyard.
Attorney Evan Berger argues that this case reflects a growing trend of lawsuits against influencers who have blurred the line between excitement and advertising. He stresses that disclosure rules are necessary, even in the fast-paced world of crypto and NFTs.
This situation has gained extra attention due to the founder of Dim-Mak’s well-known passion for NFTs. He has previously paused live shows to showcase his high-value digital art purchases, showing that an expensive JPEG can pause a bass drop.
For now, Steve Aoki has not publicly commented on the lawsuit. The case raises new questions about the responsibility of influencers in speculative markets. It reminds us that hype can spread faster than house music, and sometimes the drop isn’t what anyone expected.
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