US SEC alleges that NFTs on the platform should be classified as securities. Can creative goods be securities? Reactions. Trumpās NFT collection nets $2M in 24 hours. Berkshire Hathaway $1T valuation.
The possible issue with NFTs is thatbif they are attached with assets that in essence are securities. Like what if NFT is also token of ownership of an asset. Art as such is not an issue. But then art too is an asset class. But that it can't be a security is in the fact that the value is so intangible.
I think Warren Buffett secretly loves Bitcoin; he just wonāt admit it while holding all that cash.
OpenSea's business is doomed without creator royalties. Artists deserve better.
OpenSeaās troubles are more about mismanagement than the SECāitās like a sinking ship with too many holes.
The possible issue with NFTs is thatbif they are attached with assets that in essence are securities. Like what if NFT is also token of ownership of an asset. Art as such is not an issue. But then art too is an asset class. But that it can't be a security is in the fact that the value is so intangible.
When the NFT market said it was going to the moon, they didnāt mean crashing into itš