Re: We've done this before
"Unregulated and poorly regulated markets have the potential to make a mess of the real economy"
...and even markets that *seem* to be very well-regulated can, in fact, have the regulators completely drop the ball resulting in a giant mess (see subprime mortgage crisis)
Generally speaking, I think that typical NFTs, which are marketed and bought/sold as unique artistic artifacts, should in fact be treated in the same way as a painting or a valuable watch.
In this specific case, from the description given in the article, these NFTs were linked to the ownership of the company: "...a way to *obtain a stake in the business* in its early days" and "...akin to *buying into* Disney while it was working on Steamboat Willie", in which case they are definitely a security and should be treated as such.