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Today we deliver you our obsessively-curated insights on Web3 consumer + gaming.
Consumer: SEC sends Wells notice to OpenSea. Manchester City partnered with Sony to launch the virtual Etihad Stadium. Trump’s new NFT collection. Floki is bringing memecoin to sports.
Gaming: PGA TOUR is building a Web3 golf game. VfB Stuttgart on Roblox. SBI Holdings partners with Oasys.
Plus: We untangle how digital identity will shape your business.
Crypto, Macro + AI follows on Tuesday.
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📚 Our Top Reads
New study points to Roblox’s positive impact on brands. By Roblox. Link
How digital identity will reshape your business (podcast). Link
Plurality philosophy in an incredibly oversized nutshell. By Vitalik Buterin. Link
Brands, gaming & engaging Gen Z in 2024. By GEEIQ. Link
Rise of Telegram Mini Apps: How it started, and how it’s going. By Helen Partz. Link
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Are Basketball Cards Securities?
OpenSea received a Wells notice from the SEC, indicating a potential lawsuit over NFTs being classified as securities.
What you should know:
Wells Notice: A formal SEC communication indicating potential enforcement action, but not guaranteeing a lawsuit.
SEC's Stance: The SEC views some NFTs as "investment contracts," potentially classifying them as securities, requiring compliance with securities laws.
OpenSea’s Response: It argues that NFTs are creative goods, not securities, and warns that SEC regulation could hinder innovation for artists and developers. It also highlights the positive effects of NFTs on artists, game developers, and collectors.
Support: OpenSea is pledging $5M to help cover legal fees for NFT creators and developers facing SEC challenges.
