Dapper Labs Settles NBA Top Shot NFT Lawsuit for $4 Million

The settlement resolves allegations of unregistered securities and includes business practice changes.

Dapper Labs will pay $4 million to settle the class-action lawsuit filed in 2021.
Plaintiffs accused the company of selling unregistered securities through NBA Top Shot NFTs.
The settlement includes mandatory compliance training and faster payment processing.
Dapper Labs will transfer remaining FLOW tokens to the Flow Foundation.
The settlement aims to provide legal clarity on the status of NFTs as securities.