Stoner Cats NFT Flying High After SEC Lawsuit: What Happened to the Mila Kunis Project?


Stoner Cats Sales Surge Post-SEC Lawsuit

Lonjakan Penjualan Stoner Cats Pasca-Tuntutan SEC
By Opensea

Following the SEC's lawsuit against Stoner Cats, NFT sales for the project skyrocketed by 2,433% within 24 hours. On September 14, Stoner Cats' base value increased significantly, reaching 0.084 ether.

Before the SEC intervention, the floor value of the Stoner Cats was around 0.0189 ether, equivalent to $30.73 based on the ETH exchange rate at the time.

Stoner Cats is a collection of NFTs with a marijuana theme, which is related to an animated series that depicts a cat character relaxing with an old woman who is “stoned” or high on marijuana.

Project Background and Celebrity Involvement

Latar Belakang Proyek dan Keterlibatan Selebriti
By Bitcoin.com

The goal of the Stoner Cats NFT is to fund the animated web series of the same name. Stoner Cats 2, the company behind the NFTs, “offered and sold Stoner Cats NFTs as an investment in SC2's efforts to create this content,” the SEC said.

A total of 6 episodes of the show were produced, and only those who own the NFT can watch the show.

Funds from the NFT were used to pay the cast, which includes Kutcher, Kunis, Chris Rock, Jane Fonda, NFT influencer Gary Vaynerchuk, and Ethereum founder Vitalik Buterin, among others.

Impact on the NFT Industry and the Future of Stoner Cats

The SEC's lawsuit against Stoner Cats focuses on royalties, which is a particular problem for other NFT projects. The Stoner Cats NFTs are configured so that every time one of the NFTs is resold, Stoner Cats 2 receives a 2.5% royalty.

Royalties are associated with many NFT projects and are one of the attractions for artists who may be considering NFTs.

Securities and Exchange Commission Commissioners Hester Peirce and Mark Uyeda opposed the enforcement action, saying that the SEC should set clear guidelines for artists.

Closing Paragraph

With SEC demands and a strong market response, Stoner Cats NFT has shown great resilience and potential in the crypto industry.

However, the lawsuit also highlights the legal challenges and considerations facing future NFT projects.

*Disclaimer:
This content aims to enrich reader information. Always do your own research and use cold hard cash before investing. All buying and selling and investing activities in crypto assets are the responsibility of the reader.

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