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The NFT case isn’t clear cut to me. Yes, people bought NFTs expecting a return on investment. But people buy baseball cards for the same reason. I just went on
by rcme 4y ago
The NFT case isn’t clear cut to me. Yes, people bought NFTs expecting a return on investment. But people buy baseball cards for the same reason. I just went on whatnot and saw numerous channels selling cards using rocket ship emojis. Where do you draw the line?
- lesuorac 4y agoSure, but the point is that Topps isn't posting pictures of baseball cards with a rocketship and a link to buy cards. The article is discussing how Dapper Labs who sells Moments (NFTs) was clearly promoting the NFTs as a way to make money by buying them now, selling them later for more, and that Drapper Labs was funding itself (at least partially) through the sale of those NFTs. > Where do you draw the line? As discussed in the article it's drawn at the Howey test. https://www.google.com/search?q=Howey+Test https://www.google.com/search?q=Howey+Test Of which your comment didn't attempt to show baseball cards as violating.
- rcme 4y agoThe entire article you linked is dedicated to how hard it is to fit crypto into the existing regulatory framework. All of the questions about crypto in that article apply to NFTs, but even more so. I don’t really buy the argument that the seller’s marketing of an NFT is what makes it a security. There has to be more to it than that.