Bored Ape NFTs Are Not Securities, Court Rules in Landmark Decision
In brief A California judge dismissed a class-action lawsuit against Yuga Labs, ruling that Bored Ape Yacht Club NFTs are not securities. The judge found key differences from other NFTs plausibly deemed securities, noting Bored Ape buyers used third-party marketplaces, and that creator royalties weakened financial ties between Yuga and holders. The ruling gives Yuga…