Okay, so this whole NFT thingā¦ I mean, really? People were suing Yuga Labs, the folks behind thoseā¦ *ape* pictures? The Bored Ape Yacht Club, they call it. Like I need *another* club to avoid.
And they’re claiming these things wereā¦ *securities*? Seriously? A judge, a federal judge, in California – you know, the place where everything is a lawsuit – actually said āno.ā No! Can you believe it? š¤¦āāļø Theyāre justā¦ collectibles. Membership perks! Like a slightly overpriced, digital country club. Though, honestly, probably less annoying than my actual country club.
Apparently, the plaintiffs couldnāt prove that buying these digital monkeys was supposed to make them *money*. Which, frankly, seems pretty obvious. And it’s not like Yuga Labs was handing out dividends. It’s not like they were saying, “Buy this ape, and you’ll get a percentage of the banana profits!” Though *that* would be something. š
And get this – they were sold on third-party marketplaces. Like eBay, but forā¦ JPEGs. And the creators only get a little cut. Decentralized, they call it. More like āpassing the buck,ā if you ask me. It diminishes any āissuer-dependent profit expectationā. What *is* that even?! It sounds made up. š¤Ø
So now, apparently, other NFT creators are breathing a little easier. Which isā¦ great? I guess? I still donāt get it. I really donāt. Itās justā¦ a picture. A very expensive picture. I need a nap. š“
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2025-10-05 11:57