Tangerine has indicated on his platform that he is offering various NFTs / tokens to the public — but in order to use the tokens to purchase the rarer (he says) NFTs which make use of his mugshot image(!). . . one must hold, and not sell. . . for a year.
So there’s a holding period / lockup provision (in truth, I can’t fully believe I typed those last two sentences, about a candidate for 1600 Penn., and “the pen”, as it were!).
But the holding period means definitively that buyers of the tokens/NFTs must rely on the efforts of others to realize a profit.
So, the central learning of Howey comes into play: he is offering unregistered non-exempt securities to the public in violation of federal law, this evening.
Charming. Go get em’ boys!
Out.
नमस्ते
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