Securities Decision for Popular NFT Project of Altcoin Developer from USA

A US federal judge has defined NBA Top Shot Moments NFTs, produced by Dapper Labs, the developer of the blockchain project Flow, as securities.

US federal judge Victor Marrero, NBA Top Shot Moments NFTs He made a critical decision in the ongoing case against him. While the judge stated that Moments NFTs are securities, it was emphasized that the decision would only apply to these NFTs. On the other hand, since the litigation process has not been completed yet, Dapper LabsDifferent breakthroughs can be seen in the following stages, including the objection of .

However, Dapper Labs CEO Roham Gharegozlou The counterclaim brought by the judge was dismissed.

Marrero underlined that this decision is not a precedent for other NFT collections. However, in the case file one of the highlights also shared by the Top Shot Moments team tweet‘s happened. Judge Marrero made the following statements in his note on the subject:

While none of the tweets shared by the team actually contain the word “profit,” the rocket emoji, stock chart emoji, and money bags emoji objectively mean one thing: it can bring financial return on investment.

NBA Top Shot Moments NFT collection, NBA It includes the unforgettable moments of the stars that have been converted into NFT format as videos and gifs. Launched in bull season last year flow based project had reached a volume of hundreds of thousands of dollars in the first days of its release.

After this decision by the lawsuit, there was a sudden decrease in the price of Flow. before decision from $1.24 priced Flow, with the effect of news flow Dropped to $1.16.

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