It’s been a disastrous week for Mila Kunis and Ashton Kutcher, and it’s only Wednesday. The SEC has charged the Hollywood power couple’s NFT-based web series, “Stoner Cats,” calling the NFTs unregistered securities.
Per the SEC, “Stoner Cats is an adult animated television show about house cats that become sentient after being exposed to their owner’s medical marijuana.” By buying one of 10,000 NFTs worth around $800 each, fans could get exclusive access to the six-episode animated series, which features celebrities like Jane Fonda, Chris Rock and Seth MacFarlane. Even Ethereum co-founder Vitalik Buterin was in the show.
Every time one of these NFTs was resold, the original owner would earn a 2.5% royalty. In marketing the NFTs, Stoner Cats emphasized that “the more successful the show, the more successful your NFT will be.”
The Stoner Cats’ social media accounts continued to promote the resale of these NFTs, and since they strongly suggested a return on investment, the SEC declared the Stoner Cats NFTs to be unregistered securities.
It's not a crypto pyramid scheme, it's a crypto reverse funnel!!1!