TechFlow, October 4 — According to Courtlistener, U.S. Judge Fernando M. Olguin has dismissed a lawsuit filed by investors against Yuga Labs, ruling that the plaintiffs failed to demonstrate that BYAC and other NFTs meet the legal definition of securities. The judge noted that Yuga Labs marketed its NFTs as digital collectibles with membership privileges, making them consumptive in nature rather than investment contracts. This fact alone does not transform these benefits from consumption into investment. Additionally, Yuga Labs did not make explicit profit promises to potential NFT buyers.
Add to Favorites
Share to Social Media
