Stoner Cats 2 encouraged investors to buy and trade royalty-yielding NFTs, tying the collectibles to the success of its Hollywood-backed web series, regulators allege.
Non-fungible tokens tied to an animated web series starring Mila Kunis and Ashton Kutcher were illegally offered, according to a Securities and Exchange Commission order on Wednesday that said the royalty-generating NFTs used to finance the series were unregistered securities.
"SC2 engaged in an extensive media campaign to promote the Stoner Cats NFTs both before and after the offering when the NFTs traded in the secondary market, the SEC said in the order."[It] engaged in this conduct without registering the offering of the Stoner Cats NFTs."
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