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Dapper Labs, the company behind NBA Top Shot nonfungible tokens (NFTs), has agreed to a $4 million settlement in a class-action lawsuit. The suit alleged that Dapper Labs sold unregistered securities, but the settlement reaffirms that NBA Top Shot NFTs are not securities, according to CEO Roham Gharegozlou. The agreement also includes business changes to ensure the Flow blockchain's decentralization and an annual staff training program on federal securities laws. The settlement awaits approval from District Judge Victor Marrero.

Dapper Labs, the company behind NBA Top Shot nonfungible tokens (NFTs), has agreed to a $4 million settlement in a class-action lawsuit. The suit alleged that Dapper Labs sold unregistered securities, but the settlement reaffirms that NBA Top Shot NFTs are not securities, according to CEO Roham Gharegozlou. The agreement also includes business changes to ensure the Flow blockchain's decentralization and an annual staff training program on federal securities laws. The settlement awaits approval from District Judge Victor Marrero.

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Sky Mavis co-founder Aleksander Larsen predicts that blockchain games will not rely on Discord channels forever. Currently, blockchain games use platforms like Discord and Telegram to build communities due to gatekeeping from app stores and publishers. However, Larsen believes that as blockchain gaming becomes more mainstream, these anti-crypto stances will soften, making it easier for developers to reach their target audiences. Larsen, also a co-creator of the popular blockchain game Axie Infinity, is now launching Ronin Forge, an early access program for experimental Web3 games. In other news, OpenSocial Protocol co-founder Allen Ng suggests that SocialFi, a blend of social media and decentralized finance, could be the key to keeping Web3 gamers engaged and spending more. He argues that the social aspect of gaming enhances user retention and average revenue per user. OpenSocial recently launched a $15 million fund to support the next generation of Web3 social apps. Finally, Sky Mavis has recovered $5.7 million from the 2022 Ronin Bridge hack with the help of Norwegian authorities. The Sandbox, a metaverse firm, secured $20 million in a funding round, and McDonald's launched a metaverse in Singapore called My Happy Place.
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