Regulation: Artists sue SEC over NFT confusion
Specifically, the two plaintiff artists, Brian Frye and Jonathon Mann, requested clarification on securities laws and Non-Fungible Tokens.
In practice, their lawyers have asked whether crypto artists are required to “register” their NFT art before selling it to the public. Not only that, another clarification concerns whether artists must make public information on the "risks" of purchasing their art.
The issue was raised after some claims could trigger US securities laws when creating and selling NFT art.
The lawyers then made a comparison between the sale of NFT Art on the secondary market and Taylor Swift concert tickets, which are also often sold on the secondary market.
Specifically, the two plaintiff artists, Brian Frye and Jonathon Mann, requested clarification on securities laws and Non-Fungible Tokens.
In practice, their lawyers have asked whether crypto artists are required to “register” their NFT art before selling it to the public. Not only that, another clarification concerns whether artists must make public information on the "risks" of purchasing their art.
The issue was raised after some claims could trigger US securities laws when creating and selling NFT art.
The lawyers then made a comparison between the sale of NFT Art on the secondary market and Taylor Swift concert tickets, which are also often sold on the secondary market.
Exploring the Telegram Web3 Browser: A New Era for Decentralized Browsing
Social messaging platform Telegram has introduced a new in-app browser with built-in Web3 for close to a billion users globally. The features of the browser will include instant article viewing, bookmarking, and support for decentralized sites hosted on The Open Network (TON). It aims at combining communication and news by making it possible to switch easily between sites and messaging services. The browser is accessible on both mobile and desktop devices, and has an intuitive user interface which is friendly for the user to navigate around. It is also perfect for multitasking; users can easily collapse and reopen pages from the bottom bar.
Social messaging platform Telegram has introduced a new in-app browser with built-in Web3 for close to a billion users globally. The features of the browser will include instant article viewing, bookmarking, and support for decentralized sites hosted on The Open Network (TON). It aims at combining communication and news by making it possible to switch easily between sites and messaging services. The browser is accessible on both mobile and desktop devices, and has an intuitive user interface which is friendly for the user to navigate around. It is also perfect for multitasking; users can easily collapse and reopen pages from the bottom bar.
How Geist Layer 3 is Tackling Blockchain Gaming’s Biggest Challenges
The blockchain gaming world is quickly transforming, and as the sector grows, so do the challenges it faces. Geist Layer 3 is a member’s-only blockchain platform formed in partnership with the in-house gaming studio Pixelcraft Studios. The platforms stated goal is to change the blockchain gaming experience for the better and more importantly, to address some of the industry’s underlying problems such high turnover among players, botting, and inflated user counts.
The blockchain gaming world is quickly transforming, and as the sector grows, so do the challenges it faces. Geist Layer 3 is a member’s-only blockchain platform formed in partnership with the in-house gaming studio Pixelcraft Studios. The platforms stated goal is to change the blockchain gaming experience for the better and more importantly, to address some of the industry’s underlying problems such high turnover among players, botting, and inflated user counts.
❤1
Stepn Go Launches Exclusive G-Shock NFT Sneakers
Stepn Go is a spin-off from the move-to-earn game Stepn, blending fitness and digital collectability. Paired with G-Shock, the fitness experience is changed entirely with this collaboration. Users are now able to own limited-edition digital sneakers that offer real-world rewards through physical activity. The Virtual G-Shock project had already attracted attention within the digital collectibles space, and now, with this collaboration, it takes it to a whole new level. For digital collectors who love unique digital assets and are passionate about fitness, this collection is the perfect blend of both worlds.
Stepn Go is a spin-off from the move-to-earn game Stepn, blending fitness and digital collectability. Paired with G-Shock, the fitness experience is changed entirely with this collaboration. Users are now able to own limited-edition digital sneakers that offer real-world rewards through physical activity. The Virtual G-Shock project had already attracted attention within the digital collectibles space, and now, with this collaboration, it takes it to a whole new level. For digital collectors who love unique digital assets and are passionate about fitness, this collection is the perfect blend of both worlds.
Is Web3 the Future? Unlocking the Next Generation of the Internet
The third iteration of the internet that we now refer to as Web3 is being built on the foundations established by Web1 and Web2. Web1, which began around 1991, was mostly a collection of static, read-only web pages pushed directly to users. Essentially, Web1 offered very little in the way of tangible user interaction.
The mid-2000s marked the arrival of Web2, which heralded the development of content created by users, the era of social media, and, consequently, the virtual monopoly of big tech companies. However, a major drawback of this is that on platforms like Facebook, X, and YouTube, you still don’t own your content, and the power to make money off of it is firmly in the hands of those centralized, corporate techn entities.
The third iteration of the internet that we now refer to as Web3 is being built on the foundations established by Web1 and Web2. Web1, which began around 1991, was mostly a collection of static, read-only web pages pushed directly to users. Essentially, Web1 offered very little in the way of tangible user interaction.
The mid-2000s marked the arrival of Web2, which heralded the development of content created by users, the era of social media, and, consequently, the virtual monopoly of big tech companies. However, a major drawback of this is that on platforms like Facebook, X, and YouTube, you still don’t own your content, and the power to make money off of it is firmly in the hands of those centralized, corporate techn entities.
OpenSea Receives SEC Wells Notice Alleging NFTs Are Securities
The U.S. Securities and Exchange Commission (SEC) has broadened its regulatory efforts in the cryptocurrency sector by issuing a Wells notice to OpenSea, a leading NFT marketplace. This move suggests that the SEC is considering taking formal action against the platform for allegedly dealing in unregistered securities.
OpenSea’s CEO, Devin Finzer, announced the receipt of the Wells notice in a statement posted on X (formerly Twitter) on Wednesday (Aug. 28). The notice indicates that the SEC is investigating whether the NFTs traded on OpenSea might be classified as securities, a determination that could lead to enforcement action.
The U.S. Securities and Exchange Commission (SEC) has broadened its regulatory efforts in the cryptocurrency sector by issuing a Wells notice to OpenSea, a leading NFT marketplace. This move suggests that the SEC is considering taking formal action against the platform for allegedly dealing in unregistered securities.
OpenSea’s CEO, Devin Finzer, announced the receipt of the Wells notice in a statement posted on X (formerly Twitter) on Wednesday (Aug. 28). The notice indicates that the SEC is investigating whether the NFTs traded on OpenSea might be classified as securities, a determination that could lead to enforcement action.
Bored Ape Yacht Club Launches BMW and Canned Beer Collabs!
The Bored Ape Yacht Club (BAYC) is elevating its well-known NFT collection to a whole new level with two exciting new collaborations. The first initiative BAYC has undertaken is partnering with the German luxury automobile manufacturer BMW to launch a Bored Ape branded luxury car.
At the same time, the Bored Ape Yacht Club is entering the beverage market through a new partnership with Bored Ape Brewing Company.
The Bored Ape Yacht Club (BAYC) is elevating its well-known NFT collection to a whole new level with two exciting new collaborations. The first initiative BAYC has undertaken is partnering with the German luxury automobile manufacturer BMW to launch a Bored Ape branded luxury car.
At the same time, the Bored Ape Yacht Club is entering the beverage market through a new partnership with Bored Ape Brewing Company.
Don’t Miss Out! The Catizen Token Launch Could Be Your Next Big Win!
September 20, 2024, is a date you’re going to want to remember. That’s when the Catizen token is set to hit the market. This launch will introduce the CATI token to the TON ecosystem, unlocking a slew of new opportunities for players. Whether you plan to trade CATI tokens in the pre-launch market or are simply looking to cash in on the airdrop, this article has all the info you need.
September 20, 2024, is a date you’re going to want to remember. That’s when the Catizen token is set to hit the market. This launch will introduce the CATI token to the TON ecosystem, unlocking a slew of new opportunities for players. Whether you plan to trade CATI tokens in the pre-launch market or are simply looking to cash in on the airdrop, this article has all the info you need.
Colle AI Introduces Video NFT Creation Feature for More Digital Art
Colle AI, a pioneer in the convergence of Web3 and AI, is excited to unveil its latest offering: the ability to create NFT videos directly on its platform. This innovative feature allows users to easily convert their video creations into unique NFTs, thus enriching the digital asset landscape.
Colle AI, a pioneer in the convergence of Web3 and AI, is excited to unveil its latest offering: the ability to create NFT videos directly on its platform. This innovative feature allows users to easily convert their video creations into unique NFTs, thus enriching the digital asset landscape.
Digital Chamber Urges US Crypto Users to Support New NFT Bill
On September 10, the advocacy organization called on the U.S. Congress to define certain NFTs as consumer products, which would exempt the instruments from federal securities laws. The organization argues that many NFTs function similarly to traditional artwork and collectibles and should be considered consumer goods rather than securities.
On September 10, the advocacy organization called on the U.S. Congress to define certain NFTs as consumer products, which would exempt the instruments from federal securities laws. The organization argues that many NFTs function similarly to traditional artwork and collectibles and should be considered consumer goods rather than securities.
NFT Sales Soar 7.33%, Mythos, Blast, Solana Lead the Charge
After several weeks of slow sales, NFTs made a comeback between September 14 and 21, 2024. In just seven days, cryptoslam.io metrics show they raked in $77.13 million across 21 blockchains, up 7.33%. Ethereum led the charge, bringing in $23.62 million, though sales of Ethereum-based NFTs were down 9.32% from the previous week. Solana followed, raking in $16.78 million, up 36.59%. Meanwhile, Bitcoin took third place with $12.55 million, despite a 15.43% decline.
After several weeks of slow sales, NFTs made a comeback between September 14 and 21, 2024. In just seven days, cryptoslam.io metrics show they raked in $77.13 million across 21 blockchains, up 7.33%. Ethereum led the charge, bringing in $23.62 million, though sales of Ethereum-based NFTs were down 9.32% from the previous week. Solana followed, raking in $16.78 million, up 36.59%. Meanwhile, Bitcoin took third place with $12.55 million, despite a 15.43% decline.
Nakamoto Games to Expand with Airdrops, New Games, and Mobile App
The fast-expanding Nakamoto Games platform in the Web3 gaming space continues to make several impressive developments. Built on Polygon, Nakamoto Games offers P2E (play-to-earn) gaming experiences. Unlike some competitors, however, they aim to keep their gaming experiences casual. That means gamers don’t need to invest a ton of time or energy in playing Nakamoto’s games to start winning and earning $NAKA.
The fast-expanding Nakamoto Games platform in the Web3 gaming space continues to make several impressive developments. Built on Polygon, Nakamoto Games offers P2E (play-to-earn) gaming experiences. Unlike some competitors, however, they aim to keep their gaming experiences casual. That means gamers don’t need to invest a ton of time or energy in playing Nakamoto’s games to start winning and earning $NAKA.
A CryptoPunk sold for $56.3 million: a new record for the NFT market
The world of NFTs (non-fungible tokens) witnessed an extraordinary new sale, which set an unprecedented record: one of the famous CryptoPunks, number 1563, was sold for the incredible sum of $56.3 million, or 24,000 ETH. This transaction not only represents a new all-time high for the sale of a CryptoPunk, but also testifies to how, despite the prolonged bear market that has hit the cryptocurrency market, interest in high-quality NFTs remains alive and well.
The world of NFTs (non-fungible tokens) witnessed an extraordinary new sale, which set an unprecedented record: one of the famous CryptoPunks, number 1563, was sold for the incredible sum of $56.3 million, or 24,000 ETH. This transaction not only represents a new all-time high for the sale of a CryptoPunk, but also testifies to how, despite the prolonged bear market that has hit the cryptocurrency market, interest in high-quality NFTs remains alive and well.
The NFT market restarts: Weekly sales reach a new peak
According to data from CryptoSlam, a platform that monitors the NFT market, sales exceeded $84.9 million between September 30 and October 6, marking a strong recovery after weeks of sluggish performance.
This is the highest weekly volume since the last week of August, when sales volume exceeded $93 million.
According to CryptoSlam data, weekly NFT sales hit a peak from August 23-29, 2021, when they surpassed $2.2 billion.
According to data from CryptoSlam, a platform that monitors the NFT market, sales exceeded $84.9 million between September 30 and October 6, marking a strong recovery after weeks of sluggish performance.
This is the highest weekly volume since the last week of August, when sales volume exceeded $93 million.
According to CryptoSlam data, weekly NFT sales hit a peak from August 23-29, 2021, when they surpassed $2.2 billion.
NFT holders sue art gallery, alleging it broke metaverse promise
A group of 36 non-fungible token (NFT) holders have sued an art gallery and artist who made their NFTs, claiming they failed to follow through on a metaverse-based private club and other promised perks.
In an Oct. 9 complaint filed in a New York federal court, the group claimed Eden Gallery and artist Gal Yosef’s project “was a ‘rug pull’” scam.
The NFT collection, the Meta Eagle Club, sold 12,000 unique humanlike eagles and collected $13 million between February 2022 through November 2023.
But the group alleged nothing “substantial” was ever done to “actually build the Meta Eagle Club in any real way,” despite updates from the team behind the project claiming otherwise.
A group of 36 non-fungible token (NFT) holders have sued an art gallery and artist who made their NFTs, claiming they failed to follow through on a metaverse-based private club and other promised perks.
In an Oct. 9 complaint filed in a New York federal court, the group claimed Eden Gallery and artist Gal Yosef’s project “was a ‘rug pull’” scam.
The NFT collection, the Meta Eagle Club, sold 12,000 unique humanlike eagles and collected $13 million between February 2022 through November 2023.
But the group alleged nothing “substantial” was ever done to “actually build the Meta Eagle Club in any real way,” despite updates from the team behind the project claiming otherwise.
TON Station: A Gateway to Play-to-Earn and the $SOON Token Launch
TON Station is disrupting the Web3 gaming space with its gameplay and crypto rewards. Built on the TON blockchain, TON Station allows players to earn tokens by completing quests, participating in game launches and playing fun mini-games like Jump’n’Pump. With the $SOON token launch imminent, players can get in now and start earning. In this article, we’ll look at how TON Station works and why the upcoming $SOON token launch is so hyped.
TON Station is disrupting the Web3 gaming space with its gameplay and crypto rewards. Built on the TON blockchain, TON Station allows players to earn tokens by completing quests, participating in game launches and playing fun mini-games like Jump’n’Pump. With the $SOON token launch imminent, players can get in now and start earning. In this article, we’ll look at how TON Station works and why the upcoming $SOON token launch is so hyped.
How Hamster Kombat Season 2 Will Supercharge Your In-Game Earnings!
Hamster Kombat Season 2 has a brand new story. Instead of just tapping to win, you’ll be the CEO of your own game development studio where you’ll manage teams, projects and resources. The new approach takes Hamster Kombat from a casual game to a simulation and will appeal to both old and new players.
A teaser video from the devs has given us a first look and it shows a major overhaul of the interface. New activities like game development and management tasks and the classic screen tapping mechanics means there’s plenty of gameplay options. In addition, you’ll earn in-game diamonds by playing native and partnered games, inviting friends and interacting with Hamster Kombat social media.
Hamster Kombat Season 2 has a brand new story. Instead of just tapping to win, you’ll be the CEO of your own game development studio where you’ll manage teams, projects and resources. The new approach takes Hamster Kombat from a casual game to a simulation and will appeal to both old and new players.
A teaser video from the devs has given us a first look and it shows a major overhaul of the interface. New activities like game development and management tasks and the classic screen tapping mechanics means there’s plenty of gameplay options. In addition, you’ll earn in-game diamonds by playing native and partnered games, inviting friends and interacting with Hamster Kombat social media.
❤1
Why MetalCore on Solana Is the Upgrade Every Gamer Needs to Know About
MetalCore is a mech combat game set in a post-apocalyptic world. The game combines first-person shooter (FPS), vehicular combat and large-scale warfare, where players pilot massive mechs and fight for control of vast territories.
What makes MetalCore different is the Web3 integration, players can own and trade in-game assets like mechs, weapons and land as NFTs. This adds a whole new layer of gameplay where players can participate in an evolving in-game economy.
MetalCore is a mech combat game set in a post-apocalyptic world. The game combines first-person shooter (FPS), vehicular combat and large-scale warfare, where players pilot massive mechs and fight for control of vast territories.
What makes MetalCore different is the Web3 integration, players can own and trade in-game assets like mechs, weapons and land as NFTs. This adds a whole new layer of gameplay where players can participate in an evolving in-game economy.
Potential Impacts of a Trump Presidency on the Web3 Gaming Industry
Donald Trump’s views on Web3 have changed. Back in 2021, he initially called Bitcoin a “scam” and worried about it disrupting the US dollar. However, his stance has changed drastically since then, and his administration is getting more crypto-friendly. This aligns with the global trend of blockchain integration and crypto-friendly laws in many countries. By relaxing regulations, Trump’s administration might look to encourage more innovation in Web3 gaming, which relies on blockchain and cryptocurrencies for digital ownership and in-game economies.
The Trump administration has promised to look at policies that support the blockchain industry. Web3 gaming would benefit greatly from this recognition, especially as regulatory clarity is key to innovation. As Web3 gaming relies on tokenized economies, less restrictions will allow developers and players to engage more freely without fear of legal consequences or regulatory barriers.
Donald Trump’s views on Web3 have changed. Back in 2021, he initially called Bitcoin a “scam” and worried about it disrupting the US dollar. However, his stance has changed drastically since then, and his administration is getting more crypto-friendly. This aligns with the global trend of blockchain integration and crypto-friendly laws in many countries. By relaxing regulations, Trump’s administration might look to encourage more innovation in Web3 gaming, which relies on blockchain and cryptocurrencies for digital ownership and in-game economies.
The Trump administration has promised to look at policies that support the blockchain industry. Web3 gaming would benefit greatly from this recognition, especially as regulatory clarity is key to innovation. As Web3 gaming relies on tokenized economies, less restrictions will allow developers and players to engage more freely without fear of legal consequences or regulatory barriers.
How to Maximize Your ME Token Airdrop Rewards!
The ME Foundation will be hosting a token generation event (TGE) in the coming weeks to launch the ME token. As the token of the Magic Eden platform, ME will be used for:
Staking rewards
Future airdrops
Governance voting rights
The tokenomics have been outlined with a total supply of 1 billion ME tokens.
Airdrop Allocation and Eligibility
Magic Eden has allocated 502 million ME tokens (50.2% of the total supply) to the community. Here’s the breakdown:
Initial Airdrop Claim: 12.5%
Community & Ecosystem Development: 37.7%
The airdrop will target Magic Eden’s large user base of over 2.3 million traders. This means users who have traded NFTs on Magic Eden across supported blockchains (Bitcoin, Ethereum, Solana, Polygon) are eligible. Token allocations will be weighted based on individual user activity and trading volumes.
The ME Foundation will be hosting a token generation event (TGE) in the coming weeks to launch the ME token. As the token of the Magic Eden platform, ME will be used for:
Staking rewards
Future airdrops
Governance voting rights
The tokenomics have been outlined with a total supply of 1 billion ME tokens.
Airdrop Allocation and Eligibility
Magic Eden has allocated 502 million ME tokens (50.2% of the total supply) to the community. Here’s the breakdown:
Initial Airdrop Claim: 12.5%
Community & Ecosystem Development: 37.7%
The airdrop will target Magic Eden’s large user base of over 2.3 million traders. This means users who have traded NFTs on Magic Eden across supported blockchains (Bitcoin, Ethereum, Solana, Polygon) are eligible. Token allocations will be weighted based on individual user activity and trading volumes.