• 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

Markets Anticipate Rate Cuts Amidst Hassett's Candidacy

chest

Market analysts report an 87% chance of a Fed rate cut in December, influenced by Kevin Hassett's nomination.

user avatarKenji Takahashi

GeeFi Wallet Launches to Enhance User Control and Security

chest

The GeeFi Wallet is now available, providing a secure and user-friendly platform for managing digital assets across multiple networks.

user avatarBayarjavkhlan Ganbaatar

Potential Impact of US-Venezuela Tensions on Global Markets

chest

The escalating tensions between the US and Venezuela are likely to have a significant impact on global markets, particularly Bitcoin.

user avatarAyman Ben Youssef

Bybit Integrates USDT0 on Mantle Network to Enhance Crosschain Liquidity

chest

Bybit has announced support for USDT0 deposits and withdrawals on the Mantle Network, enhancing crosschain liquidity with zerofee transfers.

user avatarMohamed Farouk

Canton Network Emerges as a Leading Layer One Protocol for Financial Institutions

chest

Canton Network is gaining significant attention as a next-generation layer one protocol focused on serving large-scale financial institutions, emphasizing interoperability and privacy.

user avatarTomas Novak

Colin Talks Crypto Warns Against Overly Bullish Bitcoin Expectations

chest

Analyst Colin Talks Crypto shares his updated assessment of Bitcoin's potential trajectory over the next year, cautioning against overly bullish expectations.

user avatarElias Mukuru

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.