Points
- Filmmaker Brian Frye and songwriter Jonathan Mann sue SEC over NFT status.
- DraftKings winds down its NFT business due to legal developments.
- NFTs face their lowest monthly sales volume in 2024.
- Atari brings classic games on-chain; Ronin surpasses other networks in daily active users.
In a week marked by significant legal and business developments, the NFT space has experienced notable shifts. Filmmaker Brian Frye and songwriter Jonathan Mann have taken legal action against the United States Securities and Exchange Commission （SEC） to clarify the status of non-fungible tokens （NFTs） as securities. Their lawsuit seeks to determine which acts related to minting and selling art NFTs could trigger securities laws. The artists’ lawyers argue that classifying NFTs as securities would be absurd, likening it to treating Taylor Swift tickets as securities.
In a related development, DraftKings, a popular sports betting platform, announced the winding down of its NFT business due to “legal developments.” The company informed users on July 31 that it would discontinue its NFT marketplace and fantasy sports game Reignmakers. This decision follows a judge’s denial of DraftKings’ motion to dismiss a class-action suit alleging that their NFTs were unregistered securities.
Meanwhile, NFTs are poised to record their lowest monthly sales volume in 2024, with only $393 million in sales for July, falling short of June’s $438 million. Despite lower volumes, digital collectibles saw increased transaction volumes, with almost 10 million NFT transactions in July, a 73% increase from June’s record.
The gaming blockchain Ronin recorded two million daily active users on July 29, surpassing major blockchains like Tron and Solana. The surge in user activity on Ronin is partly driven by increased volume on its NFT marketplace, Mavis Market, and various ecosystem updates.
Additionally, video game pioneer Atari is bringing its classic games on-chain through its Web3 venture AtariX, starting with the shooter game Asteroids. Users can mint an NFT access pass to compete in online leaderboards and earn rewards, blending retro gaming with blockchain technology.
解説
- The lawsuit by Brian Frye and Jonathan Mann against the SEC highlights the ongoing debate over the classification of NFTs and their regulation as securities.
- DraftKings’ decision to wind down its NFT business reflects the growing legal challenges and regulatory scrutiny faced by NFT platforms.
- Despite a decline in monthly sales volume, the increase in NFT transaction volumes suggests sustained interest and activity within the digital collectibles market.
- Ronin’s achievement of two million daily active users underscores the platform’s growth and the potential of blockchain gaming to attract and engage users.
- Atari’s move to bring classic games on-chain showcases the integration of traditional gaming with blockchain technology, offering new experiences and opportunities for gamers and collectors.