A U.S. federal judge ruled that NBA Top Shot Moments NFTs are securities, and Dapper Labs may have violated securities laws

ChainCatcher news, recently a U.S. federal judge Victor Marrero stated in court documents that NBA Top Shot Moments NFTs meet the criteria to be considered securities and rejected Dapper Labs CEO Roham Gharegozlou's motion to dismiss the lawsuit, which accuses Dapper Labs of violating securities laws by selling NBA Top Shot Moments NFTs without standard registration and disclosure.

The court documents indicate that this ruling applies only to NBA Top Shot Moments NFTs and may not apply to other NFTs. Dapper Labs' control over these assets after selling NBA Top Shot Moments, as well as some marketing tweets about NFTs, suggested that these assets would appreciate in value. (The Block)