3 Emojis That Now Amount to Financial Advice
The “rocket ship” emoji, “stock chart” emoji, and “money bags” emoji objectively mean one thing: a financial return on investment.
Dapper Labs, an NFT company, had filed a motion to dismiss a complaint against them which alleged that its NBA Top Shots Moments series violated securities laws.
A United States District Courts judge for the Souther District of New York ruled that these emojis - the “rocket ship” emoji, “stock chart” emoji, and “money bags” emoji - imply a financial return on investment.
The judge referred to the tweets and other marketing materials used by Dapper Labs.
The judge ruled that public statements and marketing materials used by Dapper Labs led purchasers of their NFTs to expect profits. The judgement said:
Each Tweet promotes a recent sale or statistics of recent sales of Moments on the Marketplace. And although the literal word “profit” is not included in any of the Tweets, the “rocket ship” emoji, “stock chart” emoji, and “money bags” emoji objectively mean one thing: a financial return on investment.
The use of these emojis may be believed to be financial advice and may have legal consequences.
Read the full judgement.
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