so this is a big deal for 2 reasons:
rules NFTs are securities
opposes recent precedent that NFTs are consumer products
https://ca.finance.yahoo.com/news/herm-wins-trademark-lawsuit-against-160346542.html
The jury determined that the NFTs are more akin to consumer products subject to strict trademark laws that protect brands
however, as shown, that was a Manhattan jury’s determination. moreover, it was purely in the context of copyright infringement by NFTs—not necessarily what they ultimately are.
meaning the consumer product determination was in relation to copyright and this NFTs should be beholden to strict copyright rules as consumer products are
this new case, however, was ruled by US district judge
and is certainly stronger precedent as at the heart of it was ‘what NFTs ultimately are’.