The SEC has officially closed its investigation into CyberKongz.
After years of litigation, unjust allegations, crippling legal fees, and the biggest hurdle we could possibly encounter - we are free.
This is an extremely proud moment for CyberKongz. We are a small, passionate, and creative web3 team that elected to fight this battle for the betterment of web3.
We are certain this result will provide clarity to many projects innovating with blockchain technology, pushing the boundaries of web3 gaming, and ultimately showcasing the beauty of NFTs.
As for CyberKongz, the shackles are lifted. We have been preparing for this day for a long time. A full rebrand and new direction for CyberKongz will be announced soon.
But in the meantime, it should be celebrated by all that our space is here to stay.
i have not sold a single one of my genesis @CyberKongz bought on day 1, recent events only increase my conviction tat we are doing something revolutionary, we are on the right side of history. This is more than flipping jpegs !ooh
CyberKongz has received a Wells Notice from the SEC.
We are extremely disappointed at the approach the SEC has taken towards us, but we are going to stand up and fight for a brighter future that holds more clarity for NFT projects.
We have been suffering in silence for the last two years, ever since we first received contact from the SEC. Throughout the entire process they have showcased a complete lack of understanding of blockchain technologies that has resulted in unjust accusations and information inaccuracies.
CyberKongz is a project deep-rooted in gaming and the SEC’s Division of Enforcement have approached us with very concerning rhetoric that you can not have a token (ERC-20) in tandem with a blockchain game without registering it as a security. This discourse would have major implications for the entire web3 gaming industry, and we will defend against this stance for the wider space.
In addition, the SEC has also demonstrated a perplexing interpretation of smart contracts. One of their major concerns with CyberKongz is around the 'sale' of Genesis Kongz in April 2021, which was actually a contract migration. If they cannot distinguish between a primary sale and a contract migration, what hope do we currently have for a clear regulatory pathway going forward?
CyberKongz have a small team, have never raised capital or had a large treasury, yet we have chosen to take this fight as we have always believed in pushing this space forward. Our vision has always been on innovation and pushing boundaries in web3. We are now going to fight for a clearer regulatory pathway for digital assets on the blockchain.
It has become increasingly apparent that the current administration is trying to force their anti-crypto agenda at the last minute. We hope that the new administration puts an end to this unjustness on our industry, but until then we will fight for NFT projects on all chains. We stand with @brian_armstrong, @dfinzer, @haydenzadams, and many others who are leading this fight for our industry.
It is a huge sigh of relief to have these shackles lifted from us and put this into a public domain. We want to say that we are here for any project that is going through this also and can offer a helping hand anytime.
For the CyberKongz community, this is the start of a new beginning. One without the burden of us suffering in silence and working in fear. It is time for CyberKongz to push forward without this holding us back. We firmly believe brighter times are ahead for all of us.
#KongzTogetherStrong
The @CyberKongz Genesis NFT collection is running 7 eth floor!
I know it might seem like dropping a token for your NFT collection is a new meta but Cyberkonz was the first to do it in 2021.
Cyberkongz Genesis emit $BANANA daily and the supply is capped.
!OOH
Just yall wait til @Coco__Bear comes out of hibernation. @CyberKongz have been cooking this whole winter it’s about that time for some fireworks from the team. Expect the unexpected #ooh
Some alpha for the timeline
$Banana and Baby @CyberKongz have some changes in the works. New utility? New token? 🤷♂️
If you missed out on Pudgys/Azuki/Doodles recent run up, no worries
You can stack up on cheap $Banana and baby Kongz now before speculation comes
Don’t say I didn’t warn you.