NBA's 'Top Shot' NFTs Are Securities, Judge Rules in Dapper Labs Case
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Dapper Labs’ NBA-branded “Top Shot” non-fungible tokens are plausibly securities, a federal judge ruled Wednesday.
"The Court finds that Plaintiffs’ allegations render each consideration under Howey facially plausible and survive Defendants’ Motion to Dismiss the alleged violation of Sections 5 and 12 of the Securities Act," the ruling said.
This is a developing story and will be updated.
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