A lawsuit involving the MagicVerse NFT project, which Magic Johnson reportedly has ties to, has been dropped.

Front Office Sports reports that DoneRight & Company LLC, a Texas jewelry company, claims it was convinced by Carrie Lyn Henman, an associate of Johnson, to invest in an NFT and metaverse project that never formally launched. The company alleges the opportunity was also presented as one that rap mogul Dr. Dre backed. It claims Henman informed the company that Dr. Dre would be investing $500,000 in the project, per the outlet.

Johnson’s involvement in the project appeared to be “not merely a passive celebrity endorser lending his name to marketing materials, but rather an active participant in the financial infrastructure of the investment scheme who directly coordinated how investor funds would be handled and processed,” according to the complaint. For these reasons, he was listed as a defendant in the lawsuit.

The jewelry company also claims it was told it would receive exclusive rights, royalty payments, and marketing opportunities. It made a $250,000 investment in the project in August 2022, Front Office Sports notes.

“The project never launched, no NFTs were minted, no royalties were paid, and Defendants ultimately ceased all communication with Plaintiff while retaining the full $250,000 investment,” the complaint stated.

The lawsuit was filed in February 2026 and was dismissed in a joint stipulation by both parties with prejudice on March 31, so it cannot be refiled, according to Front Office Sports.
“Once the facts became clear to both parties, we worked cooperatively to bring the issue to a close,” attorneys for both sides said, according to the outlet. “We are pleased that this matter has been resolved amicably and remain committed to excellence in all of our business practices.”
There has been a string of lawsuits involving NFT projects. As AFROTECH™ previously reported, Shaquille O’Neal was named in a class action lawsuit for the Astrals Project in 2023. O’Neal had been one of the project’s founders. The lawsuit was filed because the Astrals tokens sold were unregistered and thus illegal under securities law.
O’Neal and the other defendants agreed to pay an $11 million settlement in 2024.