NFT News

An NFT trader from faces jail time after pleading guilty to IRS

April 14, 2025 2 mins read

Waylon Wilcox, a 45-year-old man from Dillsburg, Pennsylvania, has admitted to not reporting his income from selling CryptoPunk NFTs to the IRS. This decision allowed him to avoid paying nearly $3.3 million in taxes. He made over $13 million from selling 97 CryptoPunks between 2021 and 2022 but did not include these sales in his tax filings. This case is significant as it is one of the first major instances

The SEC closes its investigation into Yuga Labs

March 4, 2025 1 min read

The SEC has finished its investigation into Yuga Labs. This investigation looked into whether the company’s Bored Ape Yacht Club (BAYC) NFTs and ApeCoin broke federal securities laws. The probe began in October 2022. It aimed to find out if Yuga Labs’ NFTs and ApeCoin should be considered securities under U.S. law. The SEC used the Howey Test for this. The Howey Test comes from a Supreme Court case from

The SEC ends its probe into OpenSea without legal action

February 25, 2025 1 min read

The SEC has ended its investigation into OpenSea without taking legal action or labeling NFTs as securities. This is a significant victory for the NFT industry and a relief for OpenSea as it prepares to launch its token in 2025. OpenSea’s CEO, Devin Finzer, praised the SEC’s decision. He called it a win for the web3 and NFT community. Finzer criticized the SEC’s attempt to regulate NFTs under current laws.

The US SEC drops its investigation into OpenSea

February 23, 2025 1 min read

The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into OpenSea without filing any charges. OpenSea’s CEO, Devin Finzer, views this as a win for the NFT industry. The investigation began in August 2024 and focused on whether NFTs on OpenSea were unregistered securities. Although a Wells notice hinted at possible enforcement, the SEC has decided not to pursue the matter. This decision follows the SEC’s recent dismissal

The NFT brand Yuga Labs sells off the NFT collection Meebits

February 15, 2025 1 min read

Yuga Labs has sold its NFT collection Meebits and its related intellectual property to a new company called Meebit Company, or “MeebCo.” This company aims to expand the Meebits brand creatively. They plan to enhance community engagement and introduce new merchandise. After selling Meebits, Yuga Labs will focus on its Bored Ape Yacht Club NFT brand and the Otherside metaverse project. Despite the sale, Meebits will continue to have a

Indian Railways issues NFT-based train tickets

January 14, 2025 1 min read

Indian Railways is set to introduce NFT-based train tickets for the MahaKumbh Mela 2025, collaborating with Chaincode Consulting. These tickets, minted on the Polygon blockchain, enhance the travel experience for millions attending this significant Hindu pilgrimage. The MahaKumbh Mela occurs every 144 years in Prayagraj, Uttar Pradesh, and is recognized by UNESCO as a World Heritage of Humanity. The use of non-fungible tokens (NFTs) for ticketing combines tradition with modern

Leading NFT marketplace OpenSea data breach exposes over 7M email addresses

January 14, 2025 1 min read

In June 2022, OpenSea, a leading NFT marketplace, experienced a significant data breach. A Customer.io employee accidentally exposed over seven million email addresses of OpenSea users. Initially, OpenSea informed users about the breach, but the complete list of affected emails was released later. This leak poses a serious risk as scammers may target these users. The leaked emails include addresses from notable figures and organizations in the cryptocurrency sector, making

Donald Trump unveils his “Trump Bitcoin Digital Trading Cards” on Bitcoin Ordinals

January 10, 2025 1 min read

Donald Trump has introduced a new NFT collection called “Trump Bitcoin Digital Trading Cards” on the Bitcoin network using the Ordinals protocol. This initial batch consists of 160 cards, with plans for a total of 200. Buyers can obtain 100 cards from the “Mugshot Edition” through the Magic Eden marketplace by linking their Bitcoin wallets. This collection marks Trump’s first NFT project on Bitcoin, following previous releases like the “Trump

R0AR launches 10,000 executive NFTs

October 31, 2024 1 min read

The Executive R0AR Society (ERS) NFT collection is a groundbreaking initiative within the R0AR decentralized finance ecosystem, marking its significance as the first of its kind. This collection features 10,000 distinct NFTs that offer holders a wealth of benefits, including crypto rewards and exclusive access to various features on the R0AR platform. Owning an ERS NFT means more than just having a digital collectible; it grants membership to a vibrant

Coinbase launches a $6M fund to support NFT projects against SEC scrutiny

September 15, 2024 1 min read

Coinbase’s political advocacy group, Stand With Crypto, has established the Creator Legal Defense Fund to promote non-fungible token (NFT) initiatives. The $6 million fund, funded by venture capital firm a16z and NFT marketplace OpenSea, is in reaction to increased regulatory scrutiny, including a Wells notice issued to OpenSea by the US Securities and Exchange Commission. The fund’s goal is to defend the crypto community and urge creators to resist “misguided

OpenSea CEO Devin Finzer challenges the SEC’s crackdown on NFTs

August 29, 2024 1 min read

OpenSea, the prominent NFT marketplace, has received a Wells notice from the SEC, suggesting that the agency suspects OpenSea of violating federal securities laws by facilitating the sale of NFTs that may qualify as securities. This action has raised worries regarding the possibility of implementing more extensive controls inside the NFT business. Devin Finzer, the co-founder and CEO of OpenSea, openly responded to the SEC’s warning, expressing his surprise and

A judge allows a class-action lawsuit against DraftKings over its NFTs to proceed

July 4, 2024 1 min read

A federal judge in the United States has denied DraftKings’ request to dismiss a class-action complaint brought by purchasers of the company’s Non-Fungible Tokens (NFTs). The lawsuit alleges that DraftKings, together with its CEO, CFO, and president, have engaged in the sale of NFTs that should be classified as unregistered securities, so contravening federal securities laws. Justin Dufoe initiated the legal action in March 2023, contending that DraftKings’ NFTs meet