Mila Kunis-Backed Stoner Cats Faces SEC Enforcement Action for “Unregistered” NFT Offerings

Stoner Cats NFT holders were also incentivized to trade the NFTs, receiving a 2.5% royalty for each secondary-market transaction involving the collectibles, the SEC alleges. That encouraged individuals to buy and sell the NFTs in at least 10,000 secondary transactions worth more than $20 million, according to regulators. In addition, at least 20% were resold before the first episode of the Stoner Cats web series had even aired, the order shows.