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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
Jeremy S. Goldman on Movies Inc: The Business of Film Podcast
Jeremy S. Goldman is a guest on Movies Inc: The Business of Film podcast discussing NFTs in the film and entertainment space. Read more.
March 16 2023
Top NY Judge Misled Lawmakers To Justify DiFiore’s Detail
Law360 quotes Ronald C. Minkoff on the testimony by acting Chief Administrative Judge Tamiko Amaker about the warranty of former Chief Judge Janet DiFiore’s multimillion-dollar security detail. Read more.
March 8 2023
GRWM: Everything You Need to Know About the Growing World of Online Influencers and the Opportunities it Presents for Lawyers
Chambers Associate interviews Dorian Slater Thomas on the growing influencer market and what the rise has meant for lawyers representing influencer talent. Read more.
February 27 2023