Breaking: Judge Rules NBA Top Shot NFTs As Securities; Flow’s | Crypto NFT & metaverse
Breaking: Judge Rules NBA Top Shot NFTs As Securities; Flow’s Price On Freefall?
ruling by U.S. District Judge Victor Marrero to label Flow’s NBA Top Shot NFTs as securities were based on the fact that Dapper Labs maintained a private blockchain & constrained the trade of NFTs to only the Flow blockchain. This meant that buyers were required to rely on Dapper Labs’ organizational efforts to create and maintain the value of these NFTs which are commonly referred to as “Moments”.
