Tag: NFT

Diesel Partners DressX for Exclusive NFT Fashion Collection

Diesel’s entry into the Meta Avatar Store aligns with the brand’s previous forays into the metaverse and its ventures into the world of NFTs. Diesel, the iconic Gen-Z fashion brand known for its edgy style, is stepping into the metaverse with a bang. In collaboration with digital fashion house DressX, the company is launching an exclusive collection on the Meta Avatars Store, adding its name to the roster of luxury brands available in the store. Meta Avatars Store is an online designer clothing store that allows fashion lovers to dress…

SEC Charges Stoner Cats With Alleged Unregistered $8 Million Securities Sale In NFT Crackdown

boss

In a recent move that intensifies the Securities and Exchange Commission’s (SEC) crackdown on the Non-Fungible Token (NFT) sector, the SEC has charged Stoner Cats 2 (SC2) with conducting an “unregistered offering of crypto asset securities.”  The charges specifically target Stoner Cats’ sale of non-fungible tokens, which raised approximately $8 million from investors to finance the production of an animated web series. SEC’s Legal Earthquake Hits NFT Market Once Again  The SEC order reveals that on July 27, 2021, SC2 sold over 10,000 NFTs to investors at approximately $800 each,…

Google to allow NFT game ads, metaverse ‘hot’ in Asia: Nifty Newsletter

boss

In this week’s newsletter, read about how Google will start allowing games featuring nonfungible tokens (NFTs) to advertise and promote themselves using its platform and how a developer stole $1 million in assets from the Milady NFT collection. Check out how an insurance company excluded NFTs from a $20-million policy and how the metaverse is “hot” in Asian markets like Hong Kong, Korea and Japan. And don’t forget this week’s Nifty News featuring Binance ending its support for Polygon-based NFTs.  Google will allow ads for NFT games starting Sept. 15…

SEC charges company behind Stoner Cats NFT series with unregistered securities sale

boss

Stoner Cats 2 LLC (SC2), the company behind the Stoner Cats animated series, has agreed to a cease-and-desist order and other measures imposed by the United States Securities and Exchange Commission (SEC) after being charged with conducting an unregistered offering of crypto asset securities in the form of nonfungible tokens (NFTs).  According to the SEC, SC2 sold more than 10,000 NFTs for about $800 a piece. The sale took 35 minutes and occurred on July 27, 2021. Proceeds were used to fund the series. The NFTs allowed purchasers to view…

Mila Kunis-Backed Stoner Cats Faces SEC Enforcement Action for “Unregistered” NFT Offerings

According to the SEC, Stoner Cats NFT holders were incentivized to trade the NFTs, receiving a 2.5% royalty for each secondary-market transaction involving the collectibles. That encouraged individuals to buy and sell the NFTs in at least 10,000 secondary transactions worth more than $20 million, according to regulators. In addition, at least 20% were resold before the first episode of the Stoner Cats web series had even aired, the order shows. Source

Are NFT markets in a death spiral or ready for a resurgence?

boss

Nonfungible tokens (NFTs) saw a massive surge in popularity in 2021, accompanied by sky-high prices, but the market has since come crashing back to earth, and it’s unclear whether there will be a resurgence.  NFTs are unique digital tokens recorded on a blockchain to certify ownership and authenticity. They can’t be copied or substituted but can be transferred and sold by their owner. According to analytics platform NFTGo, the NFT market cap valued in Ether (ETH) is down 40.59% over the past year at the time of writing, with trading…

NFT restaurant crumbles, Binance NFT ends Polygon support and more

boss

Bold plans for a nonfungible token (NFT)-based restaurant and private members lounge in San Francisco have ended abruptly after the company behind the project halted construction due to challenging macroeconomic factors. The two venues were being built on Salesforce Park and were going to be dubbed the “Sho Restaurant” and “Sho Club Sky Lounge.” The latter would only be accessible to holders of the Sho Club NFTs, which cost anywhere from $7,500 to $300,000, and offered access to other future Sho Group hospitality offerings. Speaking with San Francisco-focused news website…

NounsDAO Barrels Toward Treasury Split After NFT Holders Rally for ‘Rage Quit’

Under the crypto club’s newly enacted rage quit rules, if 20% of Nouns NFTs call for a “fork” they can split from the main group and take their share of the project’s 30,620 ether tokens (worth about $50 million at press time) with them. Each Nouns NFT is worth about 36.5 ETH ($59,600) in book value, giving the current fork a treasury of 7,598 ETH (about $12.4 million). Source

Binance NFT ends Sandbox staking and drops Polygon network

Binance NFT announces the end of The Sandbox NFT Staking Program and discontinuation of Polygon Network support, effective from Sept. 26, 2023. Binance NFT has announced significant changes to its platform. They include discontinuing The Sandbox NFT Staking Program and removing support for the Polygon Network.  These updates are part of Binance NFT’s ongoing efforts to refine its product offerings on its marketplace. Important Update: Binance NFT Marketplace will be discounting The Sandbox NFT Staking Program and remove Polygon Network with effect from 2023-09-26 06:00 (UTC). Read more ➡️ https://t.co/rnk78i0rTw…

NFT Video Startup Glass Falls to Crypto Bear Market

The idea of Glass was to give online content creators a platform for minting and selling their videos directly to their fans, where they might make more money than, say, on YouTube. Its founders saw the blockchain as bringing more transparency to this process, and also permanence, by storing them in a decentralized manner. Source