Two OpenSea users who accused the NFT marketplace of selling unregistered securities have dropped their planned class action lawsuit after a judge allowed the company to seek arbitration. The users, Anthony Shnayderman and Itai Bronshtein, filed a voluntary dismissal of their lawsuit against Ozone Networks, now known as OpenSea, in a Florida federal court.
OpenSea had insisted on taking the case to arbitration, claiming that the plaintiffs had previously agreed to the terms of use. The NFT marketplace also said it would appeal against the court’s decision and pause the case.
