According to Cointelegraph, former US President Trump released the fourth batch of NFT trading cards "America First", with sales reaching $2.2 million. However, some community members expressed dissatisfaction with the project, believing that it was a "money-making" behavior.
NFT market OpenSea received a Wells notice from the SEC, which accused the NFTs on the platform of being unregistered securities. OpenSea CEO said this would inhibit innovation and put creators at risk.
Cryptocurrency advocates criticized the SEC's notice to OpenSea, calling the move "ridiculous and legally flawed." North Carolina Representative Wiley Nickel said the SEC should work with Congress to develop fair and clear regulations.
Although the SEC's allegations may be "unconstructive," lawyers believe that NFTs can be considered securities in some cases. The chief legal officer of Web3 organization Atlas Development explained that some NFT use cases are similar to investment products.
In August 2024, monthly NFT sales fell to $374 million, the lowest point of the year. According to CryptoSlam, NFT sales fell 76% from the peak of $1.6 billion this year. Although the number of transactions fell 31%, the average value of NFT sales increased by 27%.