• 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

MWX Launches Initiative for Underserved Micro-SMEs

chest

MWX has launched its AI for MSMEs initiative, providing free access to AI tools for 1,000 underserved micro-SMEs in Indonesia.

user avatarMiguel Rodriguez

Fusaka Upgrade Introduces PeerDAS for Enhanced Data Handling

chest

Fusaka introduces PeerDAS, enhancing data handling on the Ethereum network for improved scalability.

user avatarLuis Flores

Economic Implications of the Fusaka Upgrade

chest

The Fusaka upgrade introduces changes that impact the economic aspects of the Ethereum network.

user avatarArif Mukhtar

Justin Sun's Wallet Withdraws 100 Million TRX from Binance

chest

A wallet associated with TRON founder Justin Sun withdrew 100 million TRX and 5 million USDT from Binance, raising speculation about the motives behind the transactions.

user avatarMaria Gutierrez

SPX6900 Shows Potential for Recovery Amid Market Fluctuations

chest

SPX6900 shows potential for recovery after a recent decline, indicating a possible reversal with key support levels forming.

user avatarAndrew Smith

Polkadot Shows Steady Strength in Crypto Market

chest

Polkadot is attracting attention with a price of 2.34 and a trading volume of 201,568,944, indicating strong liquidity and investor interest.

user avatarJacob Williams

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.