On Wednesday, the U.S. Securities and Exchange Commission (SEC) told the creators of the NFT-powered, animated web series “Stoner Cats” it’s going to have to cough up a $1 million fine, and kill the cartoon kitties left in its possession. And today, Stoner Cat NFTs are worth 250% more than yesterday with trading volume spiking 7,256%.
Huh? Wha? Why?
What’s the matter, cat got your tongue?
It seems that, in its complaint, the SEC may have left open a few questions regarding these cartoon cats, including several about the NFTs trading on the secondary market.