In this week’s newsletter, read about non-fungible token (NFT) marketplace OpenSea registering a foundation in the Cayman Islands and fueling rumors of a potential token airdrop. Animoca Brands chairman Yat Siu says that NFTs will be bigger than in 2021 and 2022, NFT project CyberKongz receives a Wells notice from the United States Securities and Exchange Commission and Pudgy Penguins’ token plummets more than 50% after its launch.
OpenSea Cayman Islands registration fuels token airdrop rumors
NFT marketplace OpenSea’s foundation registration in the Cayman Islands sparked anticipation of a potential token launch and airdrop. Community members hoped they would be rewarded for using the NFT trading platform. OpenSea told Cointelegraph in a statement that the foundation registration was real but did not provide further information.
On Nov. 4, OpenSea CEO Devin Finzer announced that the platform would undergo major changes. While the executive did not provide more details, the platform said it would showcase an improved marketplace in December.
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NFTs will be “even bigger” than they were in 2021 — Animoca’s Yat Siu
In a Cointelegraph interview, Animoca Brands chairman Yat Siu predicted that NFTs would continue to be adopted and become “even bigger” than in 2021 and 2022, the peak years for blockchain-based digital collectibles.
Siu said that NFTs are reputational investments comparable to high-end physical artworks. The executive said that if a person owns a Picasso, their status becomes special. Siu added that NFTs could provide a similar effect. The executive said that NFTs are status symbols, conveying cultural and symbolic capital.
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“Major implications” for gaming tokens as CyberKongz hit with SEC Wells notice
NFT platform CyberKongz received a Wells notice from the US Securities and Exchange Commission. A Wells notice is a letter issued by the SEC informing a company that the regulator may proceed with enforcement action. CyberKongz claimed this was a…
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