Main NFT marketplaces, together with OpenSea, Blur, and Rarible, have taken down the Stoner Cats NFT challenge following prices filed by the United States Securities and Change Fee (SEC).
The Stoner Cats NFTs, initially bought in 2021, have been accessible for buying and selling throughout nearly all main NFT buying and selling platforms.
Nevertheless, as of now, OpenSea and Blur now not show any lively listings for Stoner Cats NFTs, whereas Rarible has eliminated the challenge from its web site solely.
OpenSea nonetheless maintains the challenge web page, however the market has reportedly confirmed that Stoner Cats NFTs can now not be purchased, bought, or transferred by way of their platform.
OpenSea’s Community Standards web page explains that challenge pages are saved on-line even when buying and selling is disabled for the reason that web site additionally serves as a blockchain explorer for NFTs.
On Rarible, the Stoner Cats assortment has been hidden solely and is now not seen to the general public.
LooksRare and X2Y2 Proceed to Assist Stoner Cats
Though the NFTs are now not listed on Rarible and buying and selling is disabled on OpenSea, they nonetheless exist on the blockchain and within the wallets of their holders.
Some marketplaces, comparable to LooksRare and X2Y2, proceed to have lively Stoner Cats NFT listings.
Stoner Cats, co-created by actress Mila Kunis and developed by her Orchard Farm Productions studio, bought Ethereum NFTs that granted entry to a six-episode net collection that includes animated cats indulging in cannabis-related adventures.
The challenge garnered important consideration as a result of involvement of notable celebrities like Ashton Kutcher, Chris Rock, Jane Fonda, Seth McFarlane, and Ethereum founder Vitalik Buterin, who lent their voices to the characters.
The first sale of Stoner Cats NFTs in July 2021 generated over $8 million, and the creators additionally earned from greater than $20 million price of secondary market gross sales.
SEC Sues Stoner Cats NFT Mission
Final week, the SEC charged the creators of the challenge Stoner Cats with promoting unregistered securities.
Subsequently, the creators agreed to a cease-and-desist order and to pay a $1 million civil fine, which is able to set up a Truthful Fund to reimburse buyers, although eligibility particulars are but to be introduced.
The creators additionally agreed to destroy any remaining NFTs of their possession as a part of the settlement.
Following the SEC prices, the gross sales and costs of Stoner Cats NFTs skilled a surge, with costs reaching a peak of 0.082 ETH ($131) early on Thursday, in keeping with NFT Value Ground knowledge.
As of now, the challenge has a flooring worth of 0.05940 ETH (price round $97), up by 19.3% over the previous 24 hours.
It’s price noting that the NFT market has skilled an entire reversal since its peak in 2021 and 2022.
Buyers have seen the worth of their blue-chip NFTs drop considerably, whereas a number of platforms have been pressured to shut down operations.
Nevertheless, there may be nonetheless notable curiosity, with some huge corporations saying NFT initiatives.
As reported, Prada Group, the guardian firm of Miu Miu, in cooperation with the Aura Blockchain Consortium, has launched blockchain companies that enable clients to confirm the authenticity of their bought merchandise.
Likewise, Italian luxurious watch producer Panerai has revealed plans to incorporate an NFT-based “digital passport” with each watch bought after October 3.