NFT Projects Give Away Equity to Holders: Legal Risk or Smart Move?
During the holiday season, two nonfungible token (NFT) collection founders made a bold move by giving away company equity to their NFT holders. Pons Asinorum, the founder of “The Plague” NFT collection, and Ovie Faruq, also known as OSF, the founder of Rektguy NFT collection, announced that their holders would be gifted a percentage of their company shares. This unexpected move has sparked discussions about the legal risks involved. Pons Asinorum believes that the move is legal as there was no expectation that the holders would receive equity, and clarified that it was a gift.
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