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February 27th, 2023
Dapper Labs Ruling Could Spell Trouble for Other Centralized NFT Projects, Experts Say
Blockchain Technology Co-Chair Jeremy S. Goldman is quoted in the article, “Dapper Labs Ruling Could Spell Trouble for Other Centralized NFT Projects, Experts Say” published by CoinDesk. The article discusses the recent ruling that denied NFT company, Dapper Labs’ motion to dismiss their class-action lawsuit. The plaintiff claims that Dapper Labs’ NBA-branded Top Shot Moments NFTs are securities and should therefore have been registered with the U.S. Securities and Exchange Commission (SEC) before being sold. Jeremy is quoted saying, “Folks minting NFTs on public blockchains and using open marketplaces can breathe a little easier. The vast majority of NFT projects don’t share those key facts that troubled the court.”
Jeremey notes that Dapper Labs’ strategy in creating a “walled garden” within its platform heavily contributed to the ruling and provided future guidance on how to create NFT platforms and products. He says, “As with most blockchain ventures, the more centralized the NFT offering, the greater the risk that the offering will be deemed a security. My hope is that the Dapper Labs decision helps educate courts, lawmakers and regulators on the fundamental distinction between private and public blockchains; between centralized platforms and decentralized protocols.
In conclusion Jeremey says, the ruling is a significant step in providing regulatory clarity for all NFT projects spanning the space, whether public or private. He adds, “Right or wrong, the decision provides some of the best legal guidance I’ve seen – basically a road map – on how to structure NFT projects in a way that minimizes securities risks.”
Read the full article here.
Other Quoted
4 Takeaways From 1st Opinion on AI Training and Fair Use
Law 360 quotes Jacqueline Charlesworth on the Third Circuit ruling granting summary judgment to Thomson Reuters, in a case alleging tech startup ROSS Intelligence infringed copyrighted material from Thomson Reuters’ Westlaw platform to create a competing legal research tool. Ms. Charlesworth stated the ruling is significant because many AI companies are asserting transformative use, in interpreting The Andy Warhol Foundation v. Goldsmith case. (Behind paywall) View Article
February 13 2025
Thomson Reuters Prevails in Copyright Battle with AI Company
MediaDailyNews quotes Jeremy S. Goldman on the federal court decision that Ross Intelligence infringed Thomson Reuters’ copyright by training its services using Westlaw summaries, known as “headnotes.” Mr. Goldman states the ruling could impact lawsuits by other copyright owners over the use of their material to develop AI. However, he distinguishes some of the high-profile cases such as those against OpenAI in training ChatGPT. He notes OpenAI argues it did not copy material to compete with authors and publishers but to create its language model and technology. View Article
February 12 2025
What a Character
Boston College Law School Magazine quotes Jeffrey A. Greenberg in a profile of Michael Schiffer, founder of S2 Advertising Law, and the former legal director at Twitter. The article titled "What a Character" notes that Mr. Greenberg was on the hiring committee that recruited Mr. Schiffer to join Frankfurt Kurnit’s Advertising group, where he worked for more than 10 years. View Article
February 11 2025
