Dapper Labs Resolves Legal Dispute

Dapper Labs Resolves Legal Dispute
In this post

Dapper Labs reached a legal resolution confirming Flow blockchain's decentralized nature and the non-security status of digital collectibles, according to a message from CEO Roham Gharegozlou. 

The Deets

  • Decentralized Confirmation: Flow blockchain recognized as a decentralized public network.
  • Non-Security Status: Digital collectibles like NBA Top Shot are not classified as securities.
  • Commitment to Decentralization: Dapper Labs reaffirms its dedication to Flow's decentralization.
  • Focus on Innovation: Continued emphasis on building new and innovative experiences for users.

The Bulk

Dapper Labs, the company behind popular digital collectible platforms like NBA Top Shot, has successfully resolved a significant legal dispute. This resolution confirms two critical points: the Flow blockchain is a decentralized public network, and digital collectibles are not considered securities, similar to traditional trading cards.

The settlement includes Dapper Labs' commitment to further decentralize Flow, ensuring the full transfer of all $FLOW coins as part of the ecosystem development reserve to the Flow Foundation. Despite this transfer, Dapper Labs remains a major holder of $FLOW and an active builder within the Flow ecosystem.

This outcome allows Dapper Labs to focus on enhancing user experiences and driving innovation. The company is actively developing new products and features, such as the Fast Break game for NBA and WNBA fans and the upcoming NBA Top Shot mobile marketplace. These initiatives highlight Dapper Labs' dedication to providing engaging and user-friendly platforms for digital collectibles.

🎤 Founder Feedback

Today’s resolution lets us stay focused on what matters – building great experiences for our fans.Roham Gharegozlou

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