A New York federal judge's recent first-of-its-kind finding in Friel v. Dapper Labs that non-fungible tokens can be securities will likely be used by other plaintiffs and perhaps the U.S. Securities and Exchange Commission as a key part of their respective playbooks in pending and future securities matters involving digital assets, say attorneys at Holland & Knight.
Holland & Knight recently sent a non-fungible token with a hyperlink to serve a legal notice to an anonymous defendant with a New York state judge’s approval, in what may be the first example of a defendant being served via NFT.