Do Play-To-Earn Games Sell Unregistered Securities?

Play-to-earn game developers that sell in-game currency tokens or NFTs to their players may be inadvertently selling unregistered securities. Offering unregistered securities is illegal and the Securities and Exchange Commission (“SEC”) may prosecute developers and obtain injunctions, civil penalties, and orders to refund all investor funds (disgorgement). Further, the investors themselves can sue developers (including…

Esports. So Hot Right now: Advice from an Esports Attorney for Players and Teams.

Metro Detroit is uniquely poised to become the next epicenter of a growing industry: Professional competitive video gaming, or simply esports. An emerging and growing form of entertainment, the Michigan esports scene is rooted in its strong high school and collegiate programs. Professional esports actually had its first major metro Detroit debut August 2019, when…

A Lesson in Licenses and Why You Own Nothing.

In 2019, Fortnite went offline. No one could play, stream, compete, or access their account. This was part of an in-game “event” known as the Fortnite Blackout or The End. Can Epic Games do that? What rights do you even have as a player, team owner, or competitor? It all comes down to the End…