Indonesia Launches First NFT Postage Stamp
The Indonesian National Post Office introduced the first non-fungible token postage stamp featuring the Cenderawasih bird of paradise. In honor of the 79th anniversary of the Indonesian Post in Bandung, Indonesia, the National Post Office of Indonesia, Pos Indonesia, released the nation’s first NFT postage stamp on September 27. The Indonesian Ministry of Communications and […]
NFT Sales Plummet to Lowest Monthly Volume Since 2021
NFT sales in September dropped to $296 million, down 20% from August and 81% from March’s $1.6 billion peak. Non-fungible token (NFT) sales resumed their downward trajectory in September, as digital collectibles’ monthly sales volumes failed to recover. The sales volume of non-fungible tokens in September was $296 million, according to data provided by CryptoSlam. […]
Users Sue OpenSea Over Sales of Unregistered Securities
Two OpenSea users have proposed a class-action lawsuit in the United States against the non-fungible token (NFT) marketplace OpenSea, alleging that it sells unregistered securities contracts. In a federal court in Florida on September 19, Anthony Shnayderman and Itai Bronshtein asserted that the NFTs they acquired on OpenSea, including those from the Bored Ape Yacht […]
Digital Chamber Backs New NFT Legislation Amid Gary Gensler Criticism
Digital Chamber endorses the new NFT Act, which clarifies non-fungible token regulations despite SEC Chair criticism. The introduction of the New Frontiers in Technology Act (NFT Act) by Congressman Timmons has received backing from the Digital Chamber. This is the first time the US Congress has directly addressed the regulatory treatment of non-fungible tokens (NFTs), marking […]
US SEC Fines Flyfish Club $750K for NFT Violations
Flyfish Club raised $14.8 million by selling around 1,600 NFTs, marketed as memberships to an exclusive dining club. In response to Flyfish Club, LLC’s unregistered sale of non-fungible tokens (NFTs), the United States Securities and Exchange Commission (SEC) has issued an order against the company. The judgment has led to a growing disagreement within the […]