The Securities and Exchange Commission (SEC) charged Stoner Cats 2 LLC (SC2) with conducting an unregistered offering of crypto asset securities in the form of non-fungible tokens (NFTs) that raised about $8 million from investors to finance an animated web series. SEC Slaps Stoner Cats 2 With Charges: NFTs Deemed Unregistered Securities in $8M Offering…
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The Securities and Exchange Commission (SEC) has charged Los Angeles-based media company Impact Theory with offering and selling unregistered securities in the form of crypto asset tokens. Notably, this marks the SEC’s first lawsuit targeting an NFT offering. SEC Sues Impact Theory Over $30M in NFT Sales From October 2021 to December 2021, Impact Theory…
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One of the largest non-fungible token (NFT) platforms, Opensea, has declared its decision to withdraw BNB Smart Chain (BSC) support. Opensea revealed that the “cost to continue supporting BSC outweighs the impact.” Opensea Pivots Away From BNB Smart Chain in Strategy Re-evaluation On August 18, 2023, Opensea proclaimed that they would cease BSC support after…
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On Monday, the non-fungible token (NFT) marketplace Magic Eden announced the launch of Bitcoin Ordinal inscription support. Magic Eden said it has partnered with the wallets Hiro and Xverse to “bring a familiar wallet transaction experience to the marketplace.” Magic Eden’s Decision to Launch on Bitcoin Without Royalty Support and Compete With Emerging Markets Magic…
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As the number of Bitcoin-based Ordinal inscriptions nears the 300,000 mark, Galaxy Digital’s research team published a report on the subject that says the market size of non-fungible tokens (NFTs) built on Bitcoin could reach $4.5 billion over the next two years. The researchers at Galaxy think that new use cases stemming from the inscription…
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Monetizing digital art with NFTs provides proof of ownership, increased value and potential for royalties. Nonfungible tokens (NFTs) offer a new way to sell and distribute digital art, and they have the potential to unlock new revenue streams for artists in the digital age. Here are five ways to monetize your digital art with NFTs.…
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The “Parisland” metaverse experience will launch in time for Valentine’s Day to give budding lovebugs a space to meet, at least virtually. Swiping right in the metaverse Famous New York socialite, Paris Hilton thinks the Metaverse may be the perfect place to find one’s true love. In a Feb. 9 tweet, the celebrity and reality…
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The U.S. made the list of regions blocked from using an upcoming website for ApeCoin staking with the related DAO claiming regulations are to blame. United States-based ApeCoin (APE) holders could miss out on staking rewards after the U.S. was added to a list of regions geo-blocked from using an upcoming APE staking service. Blockchain…
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The BAYC founders want an NFT creator royalties model that ensures transferring NFTs between wallets remains free and encourages creators to remain within the NFT ecosystem. The founder of Bored Ape Yacht Club (BAYC) has weighed in on the ongoing non-fungible token (NFT) creator royalties debate and shared a potential path forward that they believe…
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LooksRare joins the lineup of NFT marketplaces that have abandoned default creator royalties but says its replacement solution is “competitive.” Nonfungible token (NFT) marketplace LooksRare is the latest in a string of NFT markets to do away with enforcing creator royalties by default, following the likes of Magic Eden and X2Y2. The platform tweeted on Oct.…
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