One of the first things to consider when determining whether an NFT is a security is its intended purpose and price. If the NFT is connected to an existing asset, such as a photograph or digital art work, and offered as a collectible with a public guarantee of authenticity on the blockchain, it's unlikely to be considered a security. However, if the NFT is being developed and sold as a way for members of the public to profit from investments or earn returns, it will be more likely to be considered a security. NFTs are still in their early days and the SEC has not yet provided their guidance. On the bright side, SEC finally updated their accredited investor qualifications making it more accessible