Flyfish Club, the team behind the planned private club in New York, has settled with #SEC. for $750,000 in damages after allegedly promising profit prospects to #NFT buyers.

They sold club memberships through NFTs between 2021 and 2022, raising $14.8 million from around 1,600 NFT sales.

They must destroy all #Flyfish NFTs in their possession by September 26 and stop collecting royalties from secondary sales.