Non fungible tokens are treated separately from fungible tokens. I'm careful to avoid selling any transferable fungible token anywhere in any website I operate for fiat. Hive-engine actually registered with FINCEN as a money transmitter to allow this and can legally operate in a handful of states, but I still think it's terrifying enough that I avoid it.
You are viewing a single comment's thread from:
Why not actually finish support for NFTs first? Market history goes back only one day(and even then it has some random ones from random dates) and there's no account history.
It's easily debable whether unbacked NFTs that are issued in more than a small number aren't something that the SEC is going to take an interest in. The fact that, for instance, Splinterlands cards have a specific identifier, come in different denominations and players can "get change" isn't going to change the SEC's mind. As I said, MtG and similar CCGs probably cover Splinterlands. Mythical is a pretty transparent attempt at evasion and the SEC has prosecuted ICOs that claimed that the lack of super-clear regulations forbidding them was going to protect them. I don't see your NFT claim protecting Mystical any more than people who are claiming that their token is a utility token (when it isn't).
Are Mystical NFTs actually on a distributed blockchain or are they like Splinterlands cards?