• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

How the SEC Notice to CyberKongz Might Affect the Gaming Token Market

user avatar

by Giorgi Kostiuk

a year ago

The NFT platform CyberKongz has received a Wells notice from the SEC, which could lead to regulatory changes for gaming tokens and NFTs.

What Happened

The NFT platform CyberKongz received a Wells notice from the U.S. Securities and Exchange Commission (SEC), expressing concerns over the issuance of tokens without registration as securities. This notice may significantly impact the Web3 gaming industry.

Reaction to SEC Actions

CyberKongz claims the SEC's actions are an attempt to hinder industry development. The company expressed its intention to defend its project and the wider industry. Founders of Axie Infinity have supported CyberKongz, hoping for a change with the new administration.

Impact on the NFT Market

Despite the SEC's notice, the price of CyberKongz NFTs rose 11.7% in the last 24 hours, reaching an average price of 6.69 ETH, equivalent to $26,900. NFTs continue to be actively used in games on the Ronin blockchain.

The SEC's notice regarding CyberKongz could mark the beginning of changes for the entire Web3 gaming and NFT industry. The development of events and the industry's response will continue to be monitored.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Yala 20 to Leverage AI for Enhanced Market Predictions

chest

Yala 20 will leverage AI to calculate probabilities and improve market pricing.

user avatarRajesh Kumar

Kaspersky Warns of New Stealka Malware Targeting Crypto Wallets

chest

Kaspersky has identified a new malware strain named Stealka that targets cryptocurrency wallets and browser-stored credentials through fake software downloads.

user avatarJesper Sørensen

Yala Introduces AI Agent to Revolutionize Prediction Markets

chest

Yala has launched its first AI agent, Yala 20, to enhance predictive accuracy in prediction markets.

user avatarSatoshi Nakamura

Launch of Chainlink Spot ETF Boosts Investor Interest

chest

The conversion of Grayscale's Chainlink Trust into a spot ETF has attracted significant inflows, reflecting steady investor interest.

user avatarFilippo Romano

Nine Proven Strategies to Capitalize on Derivative Market Volatility

chest

A report outlines nine critical strategies for traders to capitalize on volatility in derivative markets.

user avatarLucas Weissmann

Polkastarter's Vital Role in AI Adoption

chest

Polkastarter is recognized for its potential to bridge data, privacy, and execution in AI adoption, despite lacking recent team updates.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.