Roadmap and Price Statements Not Enough to Prove Profit Promise
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In his decision, Judge Olguin emphasized that Yuga Labs never made explicit promises of profit to prospective NFT buyers. He added that a roadmap for the project or statements about NFT prices and trade volumes “by themselves fail to establish an expectation of profit.”
“Statements about a product’s inherent or intrinsic value are not necessarily statements about profit,” Olguin wrote, underscoring why Yuga’s NFTs remain outside the scope of U.S. securities laws.