Stoner Cats, an NFT-driven cartoon series project launched in 2021, has been charged by the U.S. Securities and Exchange Commission (SEC) over the sale of unregistered securities. But despite the regulatory trouble announced Wednesday, NFT collectors are buying them up on secondary markets, more than doubling the asking price in the process.

Dozens of Stoner Cats NFTs on Ethereum have been sold since the SEC’s enforcement action was announced Wednesday morning, according to data from the OpenSea marketplace. Just one NFT from the project was sold on Tuesday, by comparison.

In the process, the lowest listed price for NFTs in the project shot up from 0.019 ETH (about $30) this morning to a current price of 0.049 ETH (about $79) as of this writing.

Why buy up NFTs for a project—prominently promoted by co-creator and voice actor Mila Kunis—that already

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Author: Andrew Hayward

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