U.S. SEC Charges Animated Series ‘Stoner Cats’ Over NFT Sales

U.S. SEC Charges Animated Series ‘Stoner Cats’ Over NFT Sales
фото показано с : nftnewstoday.com

2023-9-14 04:18

The U.S. Securities and Exchange Commission (SEC) has recently taken action against the creators of Stoner Cats, alleging an unregistered offering of crypto asset securities in the form of NFTs. These NFTs were intended to finance the production of the animated web series “Stoner Cats.”

Star-Studded Animated Series

Stoner Cats is not just any animated series. It portrays cats that consume cannabis and features voiceovers from a star-studded cast including Mila Kunis, Seth MacFarlane, Ashton Kutcher, Jane Fonda, Vitalik Buterin, and Chris Rock. The series quickly gained attention and traction, with its first episode being released as 10,420 NFTs on July 28, 2021. These NFTs were snapped up in a mere 30 minutes, accumulating approximately $8 million in sales.

Furthermore, the creators of “Stoner Cats” implemented a 2.5% royalty fee for each NFT transaction on the secondary market. This strategy resulted in over 10,000 transactions, with a total expenditure surpassing $20 million.

SEC’s Stance on NFTs as Securities

The SEC’s involvement stems from its determination that “Stoner Cats” violated the Securities Act of 1933. The regulatory body contends that the offering and sale of the NFTs were, in essence, securities transactions. However, these transactions were conducted without the requisite registration.

The creators of “Stoner Cats” have since cooperated with the SEC and have agreed to a cease-and-desist order. In addition to halting any further unregistered offerings, they will also be responsible for paying a civil penalty amounting to $1 million.

The Establishment of a Fair Fund

In a move to safeguard the interests of investors, a Fair Fund will be set up. This fund is designed to offer refunds to those investors who may have been adversely affected by the unregistered NFT offering.

In conclusion, the SEC’s action against “Stoner Cats” underscores the regulatory body’s commitment to ensuring that all securities offerings, whether traditional or in the evolving realm of NFTs, adhere to established laws. It serves as a reminder to creators and investors alike to be vigilant and informed about the legal implications of their endeavors in the rapidly expanding world of digital assets.

The post U.S. SEC Charges Animated Series ‘Stoner Cats’ Over NFT Sales appeared first on NFT News Today.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

NFT (NFT) на Currencies.ru

$ 0.1282 (+0.51%)
Объем 24H $0
Изменеия 24h: 4.93 %, 7d: 9.39 %
Cегодня L: $0.1282 - H: $0.1282
Капитализация $0 Rank 3750
Доступно / Всего 0 NFT

nft cats sec stoner series charges sales

nft cats → Результатов: 45


Moonbirds NFTs Hit 20 Eth Floor Price in 2 Days, Collecting Over 66 Million in Initial Capital

While the crypto markets continue to face macro uncertainties and trend downward with BTC volumes drying up, the NFT markets are considerably stable and pulling in more liquidity. We see the top-tier collections like BAYC and Punks hold the floor price really well, whereas a few medium-tier collections like NFT Worlds and Cool Cats corrected […] The post Moonbirds NFTs Hit 20 Eth Floor Price in 2 Days, Collecting Over 66 Million in Initial Capital appeared first on ItsBlockchain.

2022-4-19 15:06


За выпуск 1 тыс. NFT пользователь заплатил почти $500 000 комиссии

Криптоинвестор заплатил 204 ETH ($490 тыс. с учетом актуального курса на момент написания) комиссии для выпуска 1 тыс. невзаимозаменяемых токенов из коллекции Tubby Cats, по данным Etherscan. Создание самих NFT-токенов обошлось коллекционеру в 100 ETH ($240 тыс).

2022-2-25 09:51


Неизвестный заплатил $500 тыс. комиссии в ETH для выпуска 1 тыс. NFT

Всего криптоинвестор потратил на создание невзаимозаменяемых токенов около $730 тыс. Криптоинвестор заплатил 204 ETH ($490 тыс. с учетом актуального курса на 17:45 мск) комиссии для выпуска 1 тыс.

2022-2-25 22:02


One NFT trader paid $500,000 to mint 1000 Tubby Cats NFT

Ethereum’s high gas fees have once again reared its ugly head, as one NFT trader paid over $500,000 to mint 1000 non-fungible tokens from the Tubby Cats NFT collection.  $500,000 paid as gas fees According to available data on Etherscan, the individual paid 204 ETH, which roughly translates to $553,000 as gas fees for a […] The post One NFT trader paid $500,000 to mint 1000 Tubby Cats NFT appeared first on CryptoSlate.

2022-2-25 16:15


Пользователи потеряли 344 ETH в попытке купить NFT шоу Милы Кунис

Анимационное шоу Stoner Cats, запущенное принадлежащей Миле Кунис студией Orchard Farm Productions, привлекло 3647 ETH (более $9 млн на момент написания) за 35 минут токенсейла. We SOLD OUT in 35 meow-nutes! 🙀If you got a TOKEn, drop it here!- Stoner Cats (@stonercatstv) July 27, 2021 На продажу выставили коллекцию из 10 420 NFT в виде цифровых котов по цене 0,35 ETH каждый.

2021-8-3 18:35


Криптоиндустрия слишком мужская: актриса Мила Кунис хочет изменить ситуацию и запускает NFT с курящими кошками

Просмотры: 63  Актриса Мила Кунис входит в бизнес по продаже невзаимозаменяемых токенов. С помощью проекта Stoner Cats она хочет мотивировать женщин иметь дело с криптовалютами и NFT. Кунис анонсировала проект на шоу Конана О’Брайана «Поздняя ночь».

2021-6-26 13:05