US regulator fines Stoner Cats creator for offering NFTs

The creator of Stoner Cats, “Stoner Cats 2 LLC”, has agreed to pay a $1 million fine to settle charges from the SEC that it illegally raised $8.2 million in July 2021 by selling 10K NFTs for about $800 each. That’s right - Stoner Cats are now classified as unregistered securities. It also agreed to destroy all the NFTs that it still possessed. The NFTs had entitled holders to watch episodes of an animated series starring some big names (Jane Fonda, Mila Kunis, Ashton Kutcher, Seth MacFarlane and Chris Rock).