Tag: NFTs

NBA-Branded ‘Top Shot Moments’ NFTs May Be Securities, Judge Rules in Dapper Labs Case

The offering of Dapper Labs’ NBA-branded “Top Shot” non-fungible tokens might be securities, a federal judge ruled Wednesday. The ruling on a motion to dismiss comes a year and a half after a class-action lawsuit was filed against Dapper Labs and its CEO, Roham Gharegozlu, in New York. The lawsuit alleges Gharegozlu and Dapper Labs violated federal securities laws by…

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NFT Stuff – Bloomberg

Or take non-fungible tokens. One common approach with NFTs is that there is some sort of physical or electronic object, and you sell an NFT “of” it. The relationship between the NFT and the object is that the NFT is a label referring to the object. That’s it. Often you also destroy the physical object: You make or buy a…

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Tax-Loss Harvesting Platform Unsellable is Building ‘The World’s Largest Collection of Worthless NFTs

After the boom of 2021, the hype that fueled non-fungible token (NFT) trading has subsided. Cryptocurrency prices have plummeted from their former highs and mainstream interest in digital collectibles has waned, bringing down NFT prices. But the extended crypto winter has come with a potential silver lining – tax-loss harvesting, where NFT enthusiasts can sell their no longer valuable JPEGs…

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2022 NFT Litigation Roundup | Foley & Lardner LLP

The emergence of non-fungible tokens (NFTs) has spawned novel legal and regulatory considerations, spanning intellectual property rights, the potential classification of NFTs as securities, the recovery of assets held on decentralized platforms, and criminal considerations relating to fraud, money laundering, and insider trading. This roundup tracks ongoing civil and criminal actions involving NFTs and the various unique legal issues at…

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Coinbase Says Reddit’s Success Highlights the Potential for NFTs

Reddit non-fungible tokens (NFT) have dominated conversation in cryptocurrency markets this week after they generated $2.5 million in daily trade volume and prompted 3 million people to sign up for NFT wallets on the social media platform, Coinbase (COIN) said in a report Wednesday. *** “Facebook, Instagram and Twitter all have NFT integrations, but those initiatives focus on ‘showing off’…

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SEC’s Yuga Labs Probe Won’t Be Final Word on If NFTs Are Securities | Law.com

Since then, the world has seen NFTs endorsed by artists, wielded by large corporations, and inevitably, targeted by regulators. The arguably most famous NFTs—the apes—had managed to avoid regulatory attention until last week when the U.S. Securities and Exchange Commission opened a probe into Yuga Labs, the owner of not only the aforementioned Bored Ape Yacht Club, but of a…

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OpenSea employee accused of insider trading fights back, subpoenas NFT marketplace

For a start, Chastain wants the court to order his former employer to provide documents showing that the information he used to turn a profit is considered “property” of OpenSea. The wire fraud charge argues that Chastain “betrayed” and defrauded his employer when he used confidential business information to make money for himself. Chastain is looking to get hold of…

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Hacker Steals Bill Murray’s Crypto After $185K NFT Charity Auction

Hours after the closing of Bill Murray’s NFT auction that raised 119.2 ETH (around $185,000) for charity Thursday, a hacker stole the funds. The hacker started to drain Murray’s personal wallet at around 7:00 p.m. ET on Thursday, according to on-chain data from Etherscan and details from Murray’s team. The unknown individual also attempted to take non-fungible tokens from the…

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