The ongoing dispute over Dapper Labs’ NBA Top Shots NFTs status has sparked comments from lawyers and observers. The case started with a class action lawsuit filed by plaintiff Jeeun Friel in May 2021, alleging that Dapper Labs’ NBA Top Shots NFTs were unregistered securities.
After the last court appearance, several lawyers have been making comments regarding Judge Victor Marreo’s ruling. Blockchain Association’s chief legal officer Jake Chervinsky and other lawyers lambasted a post misinterpreting the judge’s decision on the case.
Are Dapper Labs’ Basketball NFTs Securities?
The court will decide whether NBA Top Shots are securities, as the lawsuit regarding the NFT collections has been on since May 2021. Plaintiff Jeeun Friel sued Dapper Labs for offering unregistered securities as tokenized National Basketball Association NFTs through its NBA Top Shot marketplace.
It came after the platform experienced an overwhelming influx of buyers and sellers for the said collectibl
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