I don't want to be in any leadership position when the ownership token is implemented. So I'm more than happy to wait. Like it or not, there is a Howey Test and I don't want to be involved in an unregistered security.
I think Speed's plan included an item for 'legal', and I would not be comfortable doing anything that would attract unwanted attention also. If the CKO was issued to players without any 'sale' then I think it would be ok, but always better to get that confirmed by an expert.
There are three tests to determine when an investment contract is a security. They are:
Is it an investment of money?
Is it in a common enterprise?
Are its profits to come solely from the efforts of others?
This definition comes directly from the language of a United States Supreme Court decision in the case of United States v. W.J. Howey Company in 1946. The words from the decision were; "The test is whether the scheme involves an investment of money in a common enterprise with profits to come solely from the efforts of others."
edit: also, CKO may not pay monetary dividends, so there might not be any profits
TBH I doubt there's a way to attract investors without some sort of payout. And I'm not paying a lawyer to wrangle with the SEC over what quantifies as money.