Judge Rules Yuga Labs BAYC NFTs Aren’t Securities — A Win for Web3 Collectors

A federal judge dismissed a lawsuit against Yuga Labs, ruling that its Bored Ape Yacht Club NFTs are not securities. The decision clarifies how U. S. law applies to digital collectibles, reinforcing that NFTs marketed for access or membership perks generally fall outside securities regulations source: https://news.shib.io/2025/10/06/judge-rules-yuga-labs-bayc-nfts-arent-securities-a-win-for-web3-collectors/