Pudgy Penguins CEO Luca Schnetzler believes the SEC’s actions against NFTs are nonsense, describing them as a “nothing burger.”
In this week’s newsletter, read about how a trader acquired a high-end piece from the CryptoPunks non-fungible token (NFT) collection for only 10 Ether (ETH) and how crypto exchange Coinbase is supporting NFTs with a legal defense fund. Check out how two United States Securities and Exchange Commission commissioners reacted when the government agency fined a restaurant $750,000 for selling NFTs.
In other news, the blockchain advocacy organization Digital Chamber supported a newly introduced bill to properly define NFTs and exempt some from securities laws. Meanwhile, the CEO of NFT collection Pudgy Penguins described the SEC’s actions against the NFT space as nonsense.
A crypto trader found a way to take ownership of a fractionalized CryptoPunk NFT by triggering a buyout feature in the smart contracts of a defunct platform that splits NFT ownership. The NFT collector proposed a buyout of CryptoPunk #2386 for only 10 ETH on Aug. 28.
