NFTs Can Be Considered Property, According to Singapore High Court Ruling
The judge issued this ruling as an explanation for the injunction he granted in May preventing any potential sale of a Bored Ape NFT.
Non-fungible tokens (NFT) can be considered property, the Singapore High Court has said.
Justice Lee Seiu Kin ruled Friday that NFTs meet certain legal requirements to be considered property, such as being distinguishable from other similar assets and having an owner who can be recognized by third parties.
The judge issued this ruling as an explanation for the injunction he granted in May preventing any potential sale of a Bored Ape NFT. The Bored Ape Yacht Club is a collection of 10,000 cartoon monkeys that have often fetched prices in the realms of $150,000.
The claimant in the case used the NFT as collateral to borrow crypto from another party known by the pseudonym "chefpierre," something he had done multiple times before with other lenders. However, in the midst of discussing refinancing their loan, "chefpierre" threatened to exercise the foreclose option on the NFT unless the loan was paid back in full, which the claimant was unable to do.
The judge's decision may prove a watershed moment for NFTs should investors and traders be more confident that their status as property is recognized in law.
Read more: The Floor Price for Bored Ape’s Otherdeed NFTs Is Crashing
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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