The Stoner Cats NFT Project is No Longer Tradable on Major Marketplaces
The popular Stoner Cats NFT project, tied to a celebrity-packed animated series, can no longer be traded on prominent marketplaces like OpenSea, Blur, and Rarible. This comes after the United States Securities and Exchange Commission (SEC) charged the creators with selling unregistered securities. Initially sold in 2021, the Ethereum-based NFTs have been available for trading across various platforms. However, as of now, OpenSea and Blur do not display any active listings for Stoner Cats NFTs, while Rarible has removed the project from its site.
OpenSea still shows the project page but confirmed that Stoner Cats NFTs cannot be bought, sold, or transferred on their platform. Rarible also confirmed that they have blocked the project based on recent events. While the NFTs are no longer listed on these marketplaces, they still exist on the blockchain and in the wallets of holders. Some other marketplaces like LooksRare and X2Y2 still have active Stoner Cats NFT listings.
Stoner Cats is an NFT project co-created by actress Mila Kunis through her production studio Orchard Farm Productions. The project sold Ethereum NFTs that granted access to a six-episode web series featuring cartoon cats who indulge in cannabis. Celebrities such as Ashton Kutcher, Chris Rock, Jane Fonda, Seth McFarlane, and Vitalik Buterin also lent their voices to the characters.
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Stoner Cats Settlement with SEC and Impact on Prices
The creators of Stoner Cats settled with the SEC over allegations of selling unregistered securities. They agreed to pay a $1 million civil fine to establish a Fair Fund for investor reimbursement. The eligibility details for reimbursement are yet to be announced. Additionally, the creators agreed to destroy any remaining NFTs in their possession.
Following the SEC news, sales of Stoner Cats NFTs surged and prices soared. However, with their removal from major marketplaces, the prices have significantly dropped. The current floor price for Stoner Cats NFTs is approximately $61.
Hot Take: Stoner Cats NFT Project Faces Trading Ban on Major Marketplaces
The Stoner Cats NFT project, associated with a celebrity-filled animated series, has been banned from trading on major marketplaces due to charges of selling unregistered securities by the SEC. OpenSea, Blur, and Rarible no longer list Stoner Cats NFTs for trading. Although the project page is still visible on OpenSea, it is no longer possible to buy, sell, or transfer these NFTs through the platform.
However, some marketplaces like LooksRare and X2Y2 still allow trading of Stoner Cats NFTs. Created by Mila Kunis and her production studio Orchard Farm Productions, Stoner Cats sold Ethereum-based NFTs that provided access to a web series featuring animated cats who use cannabis. The creators settled with the SEC and agreed to pay a $1 million civil fine while also destroying any remaining NFTs in their possession.
After the SEC news broke, prices of Stoner Cats NFTs initially spiked but have since settled at a floor price of approximately $61 as they disappeared from major marketplaces.
