According to The Block, a U.S. federal judge applied the Howey test and believed that Dapper Labs' NBA Top Shot's "NBA Top Shot NFT" (NBA Top Shot) meets the requirements to be considered securities, which may open the way for a class action against Dapper Labs. Green light. In it, the judge denied Dapper Labs CEO Roham Gharegozlou's motion to dismiss a lawsuit alleging that his company violated securities laws by selling NBA Top Shot "highlight moment" without the standard registration and disclosure applicable to other investment contracts. NFT” (NBA Top Shot).