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 Dapper Labs settles NBA Top Shot Moments lawsuit for $4 million

Dapper Labs, creator of the once-popular NBA Top Shot Moments NFT collection, has settled a class action lawsuit that accused the company of violating securities laws by improperly selling digital collectibles way.

According to court documents provided by Dapper Labs, the company has agreed to pay $4 million, which will be allocated to a settlement fund and made available to eligible claimants. Dapper Labs said in a statement: “The settlement in Friel vs. Dapper Labs further affirms Dapper Labs' belief that NBA Top Shot Moments are not securities under federal law.”NFT NBA Top Shot Monthly Trading Volume Peaked $226M in February 2021 However, like most other top NFT collectibles, volume has since dropped significantly.

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