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🖼 OpenSea NFT Marketplace Hit With Class Action Suit Over Alleged Securities Sales

The Moskowitz Law Firm filed another class-action lawsuit against a crypto firm Thursday, this time alleging that OpenSea’s customers were sold NFTs as unregistered securities. The lawsuit brought in a Florida federal court claims that two residents of the Sunshine State sustained damages as a result purchasing NFTs on the platform, which served as a go-to place to purchase digital art and collectibles when the NFT market ran red-hot in 2021 and 2022.

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🔹 @Metaverse_Defi_Nfts_Trading 🔹

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🥇 Over 75M Ordinal Inscriptions and $4.5B in Sales—Bitcoin Finds Its NFT Footing

In the last year and nine months since December 2022, more than 75 million Ordinal inscriptions have been minted on the Bitcoin blockchain, according to the latest statistics. This technology has given Bitcoin a new role in the world of digital collectibles. Today, Bitcoin stands as the third-largest blockchain by non-fungible token (NFT) sales, carving out a significant position in the NFT ecosystem.

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🔹 @Metaverse_Defi_Nfts_Trading 🔹

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🖼 Infinex NFTs top $40M sales in first four days, despite NFT bear market

Infinex’s latest non-fungible token (NFT) collection has amassed over $40 million worth of sales within the first four days despite the sluggish performance of the top NFT collections. The platform’s new Patron NFT collection surpassed $40 million in sales within the first four days, according to an announcement shared exclusively with Cointelegraph.

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🔹 @Metaverse_Defi_Nfts_Trading 🔹

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🖼 Magic Eden Having ‘Best Year Ever’ Despite NFT Market Slump: CEO

While the NFT market has lost considerable steam since peaking two years ago, the marketplace Magic Eden has been reaching new heights on its own, according to CEO Jack Lu. When Magic Eden launched in September 2021, the NFT market saw $4.2 billion in JPEGs trade hands, according to CryptoSlam. At that time, Magic Eden was precluded from some of the NFT market’s buzziest projects, as the most successful ones ran rampant on Ethereum.

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🔹 @Metaverse_Defi_Nfts_Trading 🔹

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🇺🇸 SEC commissioners slam agency after $750K Flyfish Club NFT settlement

Two commissioners from the United States Securities and Exchange Commission have slammed their agency for seemingly cornering non-fungible token-themed restaurant Flyfish Club into a $750,000 settlement. The SEC said Flyfish “conducted an unregistered offering of crypto asset securities” by selling 1,600 NFTs to US investors and making $14.8 million from two price points, according to a Sept. 16 cease and desist order.

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🔹 @Metaverse_Defi_Nfts_Trading 🔹

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🖼 Web3 innovation introduces innovative ‘open-cry’ NFT auctions

SocialFi platform offers AI and a blind NFT bidding model to achieve meaningful user engagement and sustainable growth. Once-popular blue-chip NFTs like Bored Ape Yacht Club (BAYC), Pudgy Penguins, and AZUKI have seen their floor prices steadily decline. The entire NFT market’s trading volume dropped dramatically from a peak of $2.2 billion to less than $600 million—a sharp and painful decline.

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🔹 @Metaverse_Defi_Nfts_Trading 🔹

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🖼 Williams Racing, Kraken’s Rear Wing Takeover Returns With Cosmos Collection #NFT Airdrop

Crypto exchange Kraken is giving NFT holders the opportunity to showcase their PFPs on Williams Racing’s United States Grand Prix livery in the second Rear Wing Takeover contest. “Last year’s takeover generated huge interest and a brilliant design, and we can’t wait to see what fans will choose this time round,” said James Bower, Commercial Director at Williams Racing, in a statement shared with Decrypt.

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🔹 @Metaverse_Defi_Nfts_Trading 🔹

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🖼 #NFTs may get greater legal protections as ‘personal property’ under proposed UK law

The U.K. government has introduced a new bill to Parliament that proposes new legal protections for digital assets such as cryptocurrency, non-fungible tokens (NFTs), and carbon credits. The bill comes as the crypto sector contends with a range of regulatory headwinds: In the U.S., the Securities and Exchange Commission (SEC) has ruled that certain crypto assets are securities, and earlier this year, the SEC approved the first U.S.-listed exchange traded fund (ETF) to track Bitcoin.

Source

🔹 @Metaverse_Defi_Nfts_Trading 🔹

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