Wyoming Blockchain Stampede 2021

What are NFTs?
            The first cryptoassets: Bitcoin and other cryptocurrencies
            Fungible Utility Tokens
            Unique (non-fungible) Tokens
Examples of NFTs
            Beeple’s
            Myriad examples
            CryptoKitties and Dapper Labs
            Dapper Labs and NBA Top Shots Moments
More about Moments
            Creating them
            Selling them
            Pricing
            Dapper Labs’ Marketplace
            The Flow network and Flow token
Legal Issues facing NFTs
            Fraud
            What is being transferred (IP concerns)
            Storage and access
            Who regulates, and are NFTs securities?
When are Cryptoassets in general securities
            The DAO Report
            SEC v. Howey
            Investment of something of value
            Common enterprise
            Expectation of profits
            Based on efforts of others
Allegations in Friel v. Dapper Labs
            Investment of something of value
            Common enterprise
            Expectation of profits
            Based on efforts of others
Analysis of issues
            Investment of something of value
            Common enterprise
            Expectation of profits
            Based on efforts of others
Conclusions and Advice
            When NFTs might be securities
            Advice for creators and issuers
Advice for purchasers