The plaintiffs failed to show how Bored Ape Yacht Club and other NFTs represent investment contracts under the SEC's 3-pronged Howey Test.
Latest News on NFT
What are NFTs? NFTs explained in brief: Nonfungible tokens, or NFTs, are verifiably unique representations of digital and physical goods. Each NFT generally differs in makeup, and therefore likely differs in value as well.
In the physical world, U.S. dollars are fungible. No value is forfeited if a person trades any given paper U.S. dollar for a different paper U.S. dollar. On the other hand, something such as artwork is generally nonfungible. The “Mona Lisa” is not of equal value to “The Persistence of Memory,” as both artworks are unique, deriving value as such.
Based on distributed ledger technology, NFT crypto assets serve as a method of authentication for buyers of unique items, proving aspects such as ownership. NFTs became much more well known in 2020 and 2021. NFTs have potential for other use cases as well, such as companies tracking their internal resources or platforms verifying subscriptions and use.
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Base’s DX Terminal NFTs ranked first in sales counts, having 1.27 million transactions, a more than 1,000% increase over the previous month.
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Early Hyperliquid users have been rewarded with a massive Hypurr NFT airdrop, with the free digital cats now worth over $64,000.
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She said she was joking about “becoming an NFT creator” after her time at the SEC; the commissioner signaled she was working “to get crypto policy right” first.
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Vesting NFTs jumped to the top of CryptoSlam’s daily sales chart on BNB Chain, highlighting demand for liquidity solutions in token lockups.
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This platform tackles the $40 billion music industry’s missing royalties “black box” by offering transparency, liquidity and fractional ownership.
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The Ronin Treasury will begin a $4.6 million RON buyback starting on Sept. 29, which is expected to reduce the circulating supply of RON by 1.3%.
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American Express cardholders can now receive NFT passport stamps showing the countries they’ve visited as a way to commemorate their past travels.
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DappRadar analyst Sara Gherghelas said the metaverse may not be dead after NFT sales linked to virtual worlds recorded their second consecutive month of heightened activity.
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Christie’s auction house is reportedly closing its digital art department, but will continue to auction NFTs under a broader category.
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The NFT sector has yet to recapture the enthusiasm of 2021-2022, forcing many NFT-centric companies like OpenSea to pivot to more in-demand crypto use cases.
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