Good news everybody
I don't know about you, but for me it's good information. Two of the five SEC commissioners have objected to the SEC's decision to penalise the developers of the NFT 'Stoner Cat' project.
"Stoner Cat" project by Mila Kunis and Ashton Kutcher was based on 10,000 cartoon cats and raised a total of $8 million to make the animated film. The SEC declared NFTs to be securities, issued a fine $1000000 and ordered all NFTs to be burned.
But what did they say?
The two commissioners stood up for the artists stating:
And finally, the commissioners conclude:
I feel that this sends an important message to the creative community. Admittedly, the two commissioners are not five and this opposition to the SEC's decision may be only symbolic, but it shows that there are people in the authority's ranks who actually think about the situation of artists.
NFT creators understand
NFT and blockchain are indeed introducing a new relationship between artists and the fanbase and creating new and very attractive distribution channels, and it would be nice if the regulators recognised this.
Although, as
writes in 'Open Letter to Taylor Swift' governments won't help us, only Taylor Swift will help us, well maybe a little NFT and blockchain too. Taylor Swift could go to the SEC and talk with them, maybe they will listen to her. But does Taylor already have her NFT collection, is she a NFT creator?Thanks for bringing this to my attention
“Wait, are NFTs legal or not?”