12/10/2022 Bored Ape creators and other NFT projects investigated by SEC probe

A source familiar with the matter said the SEC is looking into whether certain NFTs from Yuga Labs could be “more akin to stocks.”

Bored Ape creators and other NFT projects investigated by SEC probe

Sources say that the United States Securities and Exchange Commission (SEC) probe into Yuga Labs is actually part of a wider investigation into thenonfungible token (NFT)market, which already came to light in March.

On Oct. 11, areportfrom Bloomberg citing a source “familiar with the matter” said the SEC is investigating Yuga Labs over whether certain NFTs are “more akin to stocks” and whether the sales of certain digital assets violate federal laws.

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However, Cointelegraph understands that the investigation is part of the ongoing SEC probeinto the wider NFT market, which is looking at whethercertain NFTs and fractional NFTscould fall under federal securities laws.

In March, anonymous sources told Bloomberg theSEC was investigating NFT creatorsand marketplaces whether “certain nonfungible tokens […] are being utilized to raise money like traditional securities.”

A spokesperson for the SEC told Cointelegraph that it “does not comment on the existence or nonexistence of a possible investigation.”

Meanwhile, Yuga Labs appears to be looking at the bright side of things. In a statement to Cointelegraph it said:

“It’s well-known that policymakers and regulators have sought to learn more about the novel world of Web3,” said a Yuga Labs spokesperson:

“We hope to partner with the rest of the industry and regulators to define and shape the burgeoning ecosystem. As a leader in the space, Yuga is committed to fully cooperating with any inquiries along the way.”

Bloomberg also reported the regulator is examining the distribution of ApeCoin, which was given to the holders of Bored Ape Yacht Club (BAYC) and other NFTs.

According to the ApeCoin (APE) website, Yuga Labs is a community member in the ApeCoin DAO and will adopt APE as the primary token across its new projects.

Arts

https://cointelegraph.com/news/bored-ape-creators-and-other-nft-projects-investigated-by-sec-probe

Interesting NFTs
Alex in Wonderland
A figure, Alex, stands mostly naked in the midst of a physical and psychological maelstrom. He is clad only in nostalgic 80’s era socks, on a tenuous island between active waters and a variety of shark denizens. Sharks on the right side of the image are all beached, including a shark with a quartz crystal snout, an orange shark wrapped in a life buoy, and a shark further in the distance wearing an 80’s style shirt with the number “88”. On the left side is the largest shark, wearing bright glossy red lipstick and brandishing prominent teeth with braces. She is cordoned off from the figure by a roped float divider, and within her thought bubble is a warning symbol. Behind the figure, hovering in the air, are Grey aliens emerging from the distance, out of a series of elliptical UFO shaped interdimensional membranes. The Greys take on the visual form of spermazoa ostensibly impregnating the interdimensional thresholds. As is typical, these Greys inhabit a zone just behind the unconscious topology of Alex’s dissociative mind. Though Alex’s bottom half is representative, his top half mutates into a psychological cornucopia. In a manner akin to “Auto-Erotic Sphinx”, a predecessor work, the figure has self suctioned—an act of sensual infatuation, enjoyment, and exploration. Upward exists the figure’s primary conscious eye, adorned with a revolutionary beret emblazoned with a Bitcoin badge. The figure’s summit features the nose of a fighter jet facing off against video game Bullet Bills, one of whom is marked by a communist North Korean star. A cropped section of a UFO observes the contest. Alex’s mind branches both left and right. To the left is more singular embodied consciousness, manifesting two eyes and a Ganesh trunk grasping crayons. The right branch dissociates upward diagonally, emerging into an array of eyes, faces, teeth, tail, a unicorn horn, and much more—all of which participate in expressing his unconscious being; a democracy of psychic factions representing thought impressions and associations. All illumination and darkness– fernal, infernal, high consciousness and corporeal underbelly–reside in this realm. In the distance are relatively languid, light clouds, and against the firmament hovers a colossal distant eye peering over the scene and far beyond. This painting possesses underlying genetic traits with previous works such as “Auto-Erotic Sphinx with Toys”, “Dionysus”, and “Fuku-Shiva”. The work serves also as a nod to an earlier period of art inspiration during late teens and early twenties— born out of the nakedness, vulnerability, curiosity, and wonder inherent to coming of age and all subsequent psychedelic revelation.
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Rogue Society Bot is a collection of 15,777 unique Rogue Bot NFTs— unique digital collectibles living on the Ethereum blockchain. Your Rogue Bot doubles as your Rogue Society membership card, and grants access to members-only benefits and experiences. Future perks can be unlocked by the community through roadmap activation. Visit www.roguesociety.io for more details.
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