Nfts
DraftKings faces lawsuit claiming its NFTs are securities (1)
DraftKings Inc. and its executives have failed to convince a federal court to dismiss a proposed class action alleging it violated federal securities laws by failing to properly register its nonfungible tokens.
Plaintiff Justin Dufoe bought and sold NFTs on the DraftKings marketplace from February 2022 to February 2023. In his original complaint, Dufoe said that he and others in his proposed class expected to make a profit on the NFTs, but he sold some of them at a loss and many of the ones he still held were worthless. alleged DraftKings Violated Securities Laws When It Sold NFTs and Should Give…