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An interesting development in the NFT vs. SEC securities debate - @mmccsolana creator Venus Labs has published a detailed statement arguing why it is NOT a security despite paying royalties to owners.
The paper's worth a read:https://www.yumpu.com/en/document/read/65924471/on-the-question-of-mmcc-securities …
TLDR - because Venus Labs is transferring all project benefits & responsibilities to MMCC owners, there is no money being made from the efforts of a third party. MMCC owners are putting in the effort & are getting paid the royalties from that effort. Not a bad take imo.
Thanks for the TLDR
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