According to Odaily, SunPump, in collaboration with APENFT, has officially launched NFT Pump, the first NFT fair issuance platform on the TRON network. The platform aims to provide NFT investors and new users with a fair, transparent, and innovative NFT trading experience, further promoting the development of the TRON network's NFT ecosystem. NFT Pump simplifies the process of issuing and collecting NFTs, significantly reducing the cost of minting NFTs. Creators can set up pre-sale whitelists and enjoy up to 99% gas fee subsidies. Users can access the platform through the new domain (https://nftpump.meme) and the APENFT site (https://apenft.io) for a seamless trading experience.

According to Cointelegraph, two OpenSea users have filed a class-action lawsuit against the NFT marketplace. The lawsuit, submitted on September 19 by Anthony Shnayderman and Itai Bronshtein, alleges that the NFTs they purchased on OpenSea are now worthless because they are illegal. OpenSea has refuted the allegations, describing the lawsuit as 'baseless.' An OpenSea spokesperson stated that a lawsuit based on their disclosure of a Wells notice 'won’t make the allegations in the complaint true.' A Wells notice from the SEC serves as a warning, outlining the regulator’s concerns and giving the potentially accused company an opportunity to respond, signaling that the agency may pursue enforcement action in the future. In other news, decentralized applications platform Infinex’s latest NFT collection reached $40 million in sales in its first four days, despite the ongoing NFT bear market. Infinex Core working group lead Kain Warwick mentioned that the collection is expected to attract more interest as it expands to the wider community. Due to its ongoing launch season, Infinex reached a total value locked (TVL) of over $150 million on July 25, with the platform’s TVL growing by $100 million in just the first 10 days of the campaign. Additionally, global footwear company Puma has partnered with the Web3 mobile game UNKJD Soccer. UNKJD CEO Tal Friedman stated that the partnership aims to unlock more player experiences, noting that when established brands like Puma embrace Web3, it signals a shift in the perception of blockchain technology from niche to mainstream. The partnership will introduce Puma-based characters and branded skins in the game. Meanwhile, the Philippines’ Advanced Science and Technology Institute, an agency under the nation’s Department of Science and Technology, conducted a tech forum on September 20 to educate the youth on blockchain technology’s potential. The agency explained that technologies like artificial intelligence, cybersecurity, and blockchain are reshaping both the public and private sectors. These developments highlight the ongoing evolution and growing interest in the NFT and blockchain space. Stay tuned for more updates and insights into this rapidly changing industry.

According to Odaily, the Mint Blockchain development team has recently submitted a new NFT asset protocol standard proposal to the Ethereum official body, which has been assigned the number ERC7765. This innovative NFT asset protocol standard aims to provide a code specification and industry standard for the issuance of Real-World Asset (RWA) NFTs, promoting large-scale issuance and application of RWA assets. Currently, ERC7765 has been launched on the Mint mainnet and will initially be applied within the Mint ecosystem.

According to Cointelegraph, two OpenSea users have filed a class-action lawsuit in the United States against the NFT marketplace, alleging it sells unregistered securities contracts. Anthony Shnayderman and Itai Bronshtein filed the suit on September 19 in a Florida federal court, claiming that NFTs they purchased on OpenSea, including those from the Bored Ape Yacht Club collection, are worthless due to their illegal nature.The plaintiffs pointed to OpenSea’s recent disclosure of a Wells notice from the Securities and Exchange Commission (SEC), which they argue indicates that OpenSea may be liable for facilitating the exchange of unregistered securities. A Wells notice is a warning that the SEC has conducted an investigation and may bring an enforcement action against the recipient. The lawsuit also references successful SEC actions against NFT projects Stoner Cats 2 and Impact Theory, where the regulator deemed the NFTs as unregistered securities sales.Shnayderman and Bronshtein argue that the Howey test, which defines securities, shows that the NFTs they bought on OpenSea were investment contracts under US securities laws. They allege that these NFTs represented an investment in a common enterprise with a reasonable expectation of profits derived from the efforts of others. The suit claims that OpenSea’s NFT listings were deceptive and misled the plaintiffs into purchasing worthless and unlawful unregistered securities. It also alleges that OpenSea breached a user warranty by failing to moderate its exchange for unregistered securities.Additionally, the plaintiffs accuse OpenSea of unjust enrichment by charging fees and accepting funds from the sale of unregistered securities. In a statement, Adam Moskowitz, managing partner of The Moskowitz Law Firm and counsel for Shnayderman and Bronshtein, emphasized the need for a well-regulated environment for selling NFTs. He expressed a willingness to work with OpenSea to develop a better process for both consumers and the crypto industry. OpenSea has not yet responded to a request for comment.

According to PANews, recent data from Cryptoslam reveals that the total sales of Bitcoin-based NFTs have exceeded $4.5 billion, currently reaching $4,501,727,121. This achievement places Bitcoin third in the ranking of on-chain NFT sales, following Ethereum with $44.304 billion and Solana with $5.847 billion.In addition, the total transaction volume of Bitcoin-based NFTs has reached approximately 3.807 million transactions. The number of buyers stands at around 617,900, while the number of sellers is approximately 519,100.

According to PANews, Pudgy Penguins CEO Luca Netz stated at the Solana Breakpoint conference in Singapore on Friday that despite the prevalence of meme coin culture, NFTs remain the best method for creating communities. Netz emphasized that meme coins do not allow for easy identification of like-minded individuals online, whereas NFTs can foster this connection. He added that NFTs also create a symbolic significance that meme coins cannot replicate.Netz highlighted the unique tiered structure of NFTs, which differentiates them by price and purchase period, symbolizing power and status within the community. He acknowledged ongoing discussions about the downturn in the NFT market, with various indicators supporting this conclusion. Netz explained that the current slump in NFTs is due to poor liquidity for successful NFTs among whales and prices exceeding retail levels. However, he expressed optimism about the cyclical nature of cryptocurrencies, suggesting that the infrastructure built during the last cycle will enable NFTs to grow larger and perform better in the next cycle.

According to Odaily, the NFT project CyberKongz has announced that its Rune Project No. 2 and the pre-Rune series NFTs, Prometheans, are now under the Creative Commons Zero (CC0) license. This means that all intellectual property rights associated with these projects have been relinquished, granting the community full freedom to use, modify, and build upon them. The team emphasized that this decision does not affect the ownership or rights of holders of the Untitled series NFTs. All rights associated with the Untitled series will remain with their respective owners.

According to PANews, the NFT Pump platform Mint.Rich has seen substantial activity in its first week of operation. On-chain data reveals that over 1,400 Meme NFT projects have been launched on the platform. Among these, the MintPac project, which is based on the ERC404 protocol standard, has experienced a remarkable increase in value, surging more than 200 times. This makes MintPac one of the most successful Meme NFT projects on the Mint.Rich platform.

According to Cointelegraph, Infinex's latest non-fungible token (NFT) collection has achieved over $40 million in sales within the first four days, despite a sluggish performance in the broader NFT market. Infinex, a non-custodial platform that provides access to onchain protocols and decentralized applications (DApps), announced the success of its new Patron NFT collection. Kain Warwick, the working group lead at Infinex Core, expressed optimism about the collection's potential to attract more investor interest, noting that the initial phase saw participation from major foundations, venture capital firms, and angel investors. Warwick emphasized the importance of the upcoming phases as the sale expands to a broader community. Over 74% of the Patron NFTs have already been sold, with six days remaining in the sale. The $40 million achievement comes amid a significant downturn in the wider NFT market, where some of the most popular blue-chip NFTs have seen valuations drop by over 74% from their peaks. Infinex also reported surpassing $150 million in total value locked (TVL) on July 25, driven by its ongoing 'launch season,' which added $100 million in TVL within the first 10 days. The Patron NFTs are available in three tiers, priced at $5,000, $3,000, and $1,250, with the lowest tier being locked for 12 months from the distribution date. Early participants in the NFT sale include Framework Ventures, Wintermute, Wormhole Foundation, and Variantm, along with notable crypto figures such as Sergej Kunz, co-founder of 1inch Network. Infinex aims to replace centralized cryptocurrency platforms as the primary point of contact for new crypto users. Despite the success of the Patron NFT sale, the broader NFT market continues to face challenges. CryptoPunks, the largest Ethereum-native NFT collection, is currently trading at a floor price of 29 ETH, significantly down from its peak valuation of 113 ETH in October 2021. Similarly, the Bored Ape Yacht Club (BAYC), the second-largest NFT collection, has seen its floor price drop by over 90% from its peak valuation, currently trading at 11.8 ETH.

According to Cointelegraph, the blockchain advocacy group Digital Chamber has called on United States-based crypto users to support a bill that aims to designate non-fungible tokens (NFTs) according to their use cases. On September 10, the organization urged the US Congress to classify certain NFTs as consumer products, which would exempt them from federal securities laws. The group argued that many NFTs function similarly to artwork and traditional collectibles and should be treated as consumer goods rather than securities. In response to this call, US Representative William Timmons introduced the New Frontiers in Technology Act (NFT Act), which seeks to address the legal and regulatory treatment of NFTs. According to Digital Chamber, the newly introduced NFT Act protects “covered NFTs,” classifying them as collectibles with the primary purpose of being a work of art, musical composition, literary work, or other intellectual property. This includes collectibles, merchandise, virtual land, or video game assets. The protection also extends to affinities, rewards, loyalties, rights, licenses, or tickets. However, the Act does not protect NFTs marketed as investment products, with actual or implied actions pointing toward a potential increase in value. The Act also encourages education by directing the US Comptroller General to conduct a study on NFTs after the bill is enacted. Digital Chamber urged the community to support the NFT Act, emphasizing that it would help the industry flourish without “misapplied” securities regulations. The organization encouraged Americans to contact their representatives in Congress to voice their support for the bill. “By supporting this Act, you can ensure continued technological innovation, greater consumer protection, and a true home within the United States for blockchain technology,” Digital Chamber wrote. This development comes amid the SEC’s recent actions against the NFT space. On August 28, the government agency sent a Wells notice to NFT marketplace OpenSea, suggesting that the SEC may take future enforcement actions against the trading platform. On September 17, the SEC fined the restaurant Flyfish Club $750,000 for selling NFTs. SEC commissioners Hester Peirce and Mark Uyeda criticized the enforcement action, arguing that the NFTs did not trigger securities laws and were simply a different way to sell memberships.

According to BlockBeats, on September 17, Mocaverse and Magic Eden announced the launch of MagicMoca NFT Launchpad, a platform specifically designed for the Mocaverse community to facilitate the release of gaming and IP NFT projects. MagicMoca will utilize MOCA Coin as the primary currency for its sales activities, and Magic Eden will accept MOCA Coin as one of the preferred currencies for market transactions. Additionally, Magic Eden will fully integrate Mocaverse products, enabling Moca ID users to participate in NFT releases and build their on-chain reputation through NFTs.

According to Blockworks, Flyfish Club, the company behind the exclusive members-only club set to open in Manhattan, has reached a settlement with the Securities and Exchange Commission (SEC) over alleged violations. As part of the settlement, Flyfish must destroy all Flyfish NFTs in its possession by September 26, cease accepting royalty payments from secondary market trading platforms on Flyfish NFT sales, and pay a civil penalty of $750,000. In 2021 and 2022, Flyfish sold memberships to its private club through non-fungible tokens (NFTs) priced between 2.5 ETH and 4.25 ETH. Approximately 1,600 NFTs were sold, generating around $14.8 million in gross proceeds. These funds were used to finance the construction of the Flyfish Club, a private restaurant in downtown Manhattan. The SEC noted that Flyfish led investors to expect profits from the entrepreneurial and managerial expertise of Flyfish and its principals in building and running the restaurant. Investors were also told they could potentially profit from reselling their NFTs at appreciated prices in the secondary market. Flyfish also informed investors that leasing out its tokens to non-members was a way to make a profit. The club is scheduled to open this week on September 20, according to social media posts. While the club’s website acknowledges that the venture originally launched with blockchain-based memberships, interested members may now only apply for standard memberships. Current NFT holders are still allowed to lease their tokens to others to gain access to the club, the website adds. SEC Commissioners Hester Peirce and Mark Uyeda issued a dissenting opinion, arguing that the NFTs in question are not securities but rather utility tokens. They stated that Flyfish NFT purchasers did not have a reasonable expectation of profit but rather a reasonable expectation of wonderful culinary experiences and other exclusive membership experiences. Peirce and Uyeda added that the securities laws are not needed in this case and their application is harmful both in the present case and as future precedent. They argued that the Flyfish NFTs were simply a different way to sell memberships and questioned why a chef should not be able to sell memberships to eat at her kitchen table and collect royalties on resales of those memberships. Flyfish did not immediately return Blockworks’ request for comment.

According to PANews, Yuga Labs co-founder Wylie Arnow, also known as GordonGoner, shared his thoughts on the X platform regarding the recent actions of the NFT project DeGods. Arnow expressed uncertainty about the long-term effectiveness of DeGods' initiatives, stating, 'I don't know if DeGods' move will work in the long run (almost nothing does), I wouldn't do this for BAYC, but it's certainly interesting to watch this project try crazy moves. It's clearly worth it and good luck.' Previously, it was reported that the NFT project DeGods announced the launch of the DEGOD token. Users can convert their DeGods, y00ts, or DUST into the new token.

According to Foresight News, the Solana NFT project DeGods has introduced a new token named DEGOD. Users can convert their DeGods, y00ts, or DUST into DEGOD tokens. Each DeGods NFT can be exchanged for 550,000 DEGOD tokens, while each y00ts (Fuzzy DeGods) NFT can be burned and converted into 120,000 tokens. Additionally, each DUST token can be burned and converted into 36 DEGOD tokens. The distribution plan for the DEGOD tokens includes 85% being allocated to NFT holders, 10% to the foundation, 3% for the bonding curve, 1% for initial liquidity, and 1% to the Solana NFT marketplace Sniper.

According to BlockBeats, on September 16, the Solana NFT project DeGods announced a collaboration with the NFT marketplace Sniper to launch the DEGOD token, aiming to unify the entire ecosystem under a single asset. The Bonding Curve is set to be added around September 16 at 6:33 (UTC+8). The tokenomics of the DEGOD token reveal that each DeGods NFT can be exchanged for 550,000 tokens, while each y00ts (Fuzzy DeGods) NFT can be burned and converted into 120,000 tokens. Additionally, each DUST token can be burned and converted into 36 tokens. The distribution plan allocates 85% of the tokens to NFT holders, 10% to the foundation, 3% for the Bonding Curve, 1% for initial liquidity, and 1% to the partner, Solana network NFT marketplace Sniper.