Judge Signals ApeCoin-Linked NFTs May Not Meet Howey Test as Investor Suit Against Yuga Labs Is Dismissed

Yuga Labs lawsuit dismissed: a US federal judge found Bored Ape Yacht Club NFTs, ApeCoin and other Yuga-issued tokens do not meet the Howey Test’s three prongs and therefore are not securities, ruling purchasers bought consumable digital collectibles rather than investment ￰0￱ ruled NFTs were consumable collectibles, not investment contracts Judge Fernando ￰1￱ found no common enterprise or explicit profit promise tied to Yuga’s NFT ￰2￱ cited precedent that most digital assets are not securities and noted independent fees and public blockchain trading ￰3￱ Labs lawsuit dismissed: Judge rules BAYC NFTs not securities under Howey Test — read the ruling and implications for NFT buyers and ￰4￱ is the ruling in the Yuga Labs lawsuit?

Yuga Labs lawsuit dismissed by Judge Fernando ￰5￱ concluded the plaintiffs failed to show Bored Ape Yacht Club (BAYC), ApeCoin (APE) and other Yuga NFTs qualify as securities under the Howey ￰6￱ court held purchasers bought consumable digital collectibles and membership perks, not investment contracts tied to Yuga’s ￰7￱ did the court apply the Howey Test to BAYC and ApeCoin? The judge assessed the three Howey prongs—an investment of money, a common enterprise, and an expectation of profit produced by others—and found the plaintiffs proved ￰8￱ ruling noted Yuga marketed NFTs as collectibles with membership benefits and did not make explicit profit promises to ￰9￱ Olguin dismisses investor lawsuit against Yuga Labs.