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Events / Regulatory / Game of Silks NFT Class Action
Regulatory class action

Game of Silks NFT Class Action

Analysis based on 14 articles · First reported Feb 27, 2025 · Last updated Mar 22, 2025

Sentiment
-50
Attention
3
Articles
14
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The class action lawsuit against Game of Silks highlights regulatory risks in the NFT and metaverse sectors, potentially leading to increased scrutiny from the United States — United States Securities and Exchange Commission (SEC) on similar projects. Investors in Game of Silks NFTs face potential losses, while the legal action could set precedents for how Non-fungible token (NFTs) are classified under the Securities Act of 1933.

Gaming Blockchain Legal Services
Event Summary

Rosen Law Firm has filed a class action lawsuit against Game of Silks, a metaverse game that allows users to invest in virtual versions of real racehorses through Non-fungible token (NFTs). The lawsuit alleges that Game of Silks sold unregistered securities, specifically Silks Avatar NFTs, Silks Horse NFTs, and Silks Land NFTs, in violation of the Securities Act of 1933. Furthermore, the complaint claims that Game of Silks made material misstatements and omissions regarding its business model and sustainability. Investors who purchased these NFTs and were damaged are encouraged to join the class action, with an important lead plaintiff deadline of April 25, 2025. The United States — United States Securities and Exchange Commission (SEC) was not filed with the required registration statements for these NFTs.

Key Actions
100 Rosen Law Firm filed class action lawsuit Game of Silks
95 Game of Silks sold unregistered securities
90 Game of Silks made material misstatements
Entities Involved
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Game of Silks
Game of Silks is the defendant in a class action lawsuit for allegedly selling unregistered NFT securities and making material misstatements regarding its business model and sustainability.
Importance 100.0 Sentiment -80.0
priv
Rosen Law Firm
Rosen Law Firm is representing investors in a class action lawsuit against Game of Silks, alleging the sale of unregistered securities and material misstatements.
Importance 90.0 Sentiment 50.0
oth
Non-fungible token
Non-fungible token (NFTs) issued by Game of Silks are at the center of the lawsuit, being alleged as unregistered securities.
Importance 70.0 Sentiment -30.0
govactor
United States — United States Securities and Exchange Commission
The United States — United States Securities and Exchange Commission (SEC) is the regulatory body that Game of Silks allegedly failed to file registration statements with for its NFTs.
Importance 60.0 Sentiment 0.0
per
Lawrence Rosen
Lawrence Rosen is a founding partner of Rosen Law Firm, which is leading the class action lawsuit against Game of Silks.
Importance 40.0 Sentiment 50.0
per
Philip Kim
Philip Kim is an attorney at Rosen Law Firm, providing contact information for investors interested in joining the Game of Silks class action.
Importance 40.0 Sentiment 50.0
Relationships
Rosen Law Firm none ↔ United States — United States Securities and Exchange Commission Rosen Law Firm has no direct structural or regulatory relationship with the SEC. The firm's connection to the agency is
Rosen Law Firm related ↔ Lawrence Rosen
Rosen Law Firm related ↔ Philip Kim
United States — United States Securities and Exchange Commission related ↔ Lawrence Rosen
United States — United States Securities and Exchange Commission related ↔ Philip Kim
Lawrence Rosen founding partner ↔ Philip Kim Lawrence Rosen is a founding partner of the Rosen Law Firm, where he directs attorneys including Philip Kim. Together, t
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