A US judge has ruled in favor of Yuga Labs, dismissing a lawsuit alleging their Bored Ape NFTs constitute securities under the Howey test. This landmark decision clarifies the legal classification of NFTs in the US, distinguishing them from investment contracts and potentially impacting future regulatory frameworks for digital assets. 2023 U.S. District Court Judge Fernando M. Olguin dismissed investor claims, stating that Yuga Labs’ marketing focused on benefits like exclusivity and community access rather than financial returns, thus avoiding classification as securities. This ruling offers clarity to creators and investors in the burgeoning NFT ecosystem while potentially impacting future legal challenges against NFT classifications. The decision could deter further litigation against similar offerings from other creators. 67% of the market share is owned by Yuga Labs, with over 10 million Bored Apes minted so far, and a large portion of their revenue is generated through secondary sales on marketplaces like OpenSea.