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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
Understanding Interactive Entertainment
Games Industry Law Summit quotes S. Gregory Boyd and Sean F. Kane on two decades shaping video game law. The discussion covers key insights on industry evolution and emerging legal challenges. View Article
December 30 2024
Advertising Opt Outs Drive New Privacy Strategies in 2025
Cybersecurity Law Report quotes Daniel M. Goldberg in an article on how the advertising industry is facing greater scrutiny from state attorneys general as more people opt out of targeted ads. Speaking on a California Lawyers Association (CLA) panel, Mr. Goldberg noted how adtech is now a key focus for regulators. Due to the extensive marketing of many companies, privacy program leaders across industries must assess the impact of adtech on their companies and mititgate risks. View article (available through trial or paid subscription).
December 18 2024
The Biggest Copyright Decisions of 2024
Law360 quotes Jacqueline Charlesworth on the Hachette Book Group Inc. v. Internet Archive lawsuit, in which the Second Circuit affirmed a Manhattan federal judge’s ruling that a nonprofit’s scanning books to a create e-books was not fair use. (Behind paywall) View Article
December 17 2024