The CyberKongz NFT project receives a Wells notice from the SEC

- On December 16, CyberKongz, a game-based NFT project, announced it has received a Wells notice from the U.S. Securities and Exchange Commission (SEC). 🚨

- The SEC is concerned about the integration of CyberKongz's ERC-20 token with the blockchain game and is questioning their operations, including the movement of the contract in 2021.

- CyberKongz stated that the issue started two years ago, and they are determined to fight for a clearer future for NFT projects.

- This notice is part of the SEC's increasing trend of oversight over blockchain entities and NFTs, including Coinbase, Ripple, and OpenSea.