Alex More

OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities. We're shocked the SEC would make such a sweeping move against creators and artists. But we're ready to stand up and fight. Cryptocurrencies have long been in the crosshairs of the SEC, and companies like @coinbase, @Uniswap, @RobinhoodApp, @krakenfx, and @Consensys have been fighting against the SEC's single-track approach of "regulation by enforcement." But this is a move into uncharted territory. By targeting NFTs, the SEC would stifle innovation on an even broader scale: hundreds of thousands of online artists and creatives are at risk, and many do not have the resources to defend themselves. NFTs are fundamentally creative goods: art, collectibles, video game items, domain names, event tickets, and more. We should not regulate digital art in the same way we regulate collateralized debt obligations. As we've built OpenSea, we've heard so many stories about the impact of NFTs on people’s lives, including: • Student artists finding full-time careers in selling their digital art • Indie game developers instantly enabling open markets for their in-game items, without having to build marketplaces from scratch • Passionate collectors from different corners of the world joining new communities, all centered around shared digital ownership It would be a terrible outcome if creators stopped making digital art because of regulatory saber-rattling. Take, for example, the suit filed against the SEC by the musician @songadaymann and conceptual artist @brianlfrye, which describes their fear that the sale of their art and music could be deemed unregistered securities offerings. In addition to standing our own ground, we're pledging $5M to help cover legal fees for NFT creators and devs that receive a Wells notice. Every creator, big or small, should be able to innovate without fear. I hope the SEC will come to its senses sooner rather than later, and that they'll listen with an open mind. Until then, we'll stand up and fight for our industry. Onwards 🌊⛵️

The NYPD has brought in black belt fighter Rener Gracie to teach officers a new method of jiu jitsu. Trainers say it will make arrests safer for suspects and police. cbsnews.com/newyork/news/n… @CBSNewYork @RenerGracie @NYPDnews

BREAKING NEWS: According to the most recent $GME 13F filings, all of the top call-option sellers COMBINED to not have enough shares to satisfy @TheRoaringKitty's 12 million shares currently in the money.

Great news! We @dapperlabs today announced a legal resolution that reaffirms two of our most important positions: After discovery, it was understood and agreed that @Flow_blockchain is a decentralized public network and that digital collectibles like @NBATopShot are not securities in the same way trading cards are not securities. These were the main allegations we wanted to prove, and continuing to litigate would have been a distraction from our core mission. The settlement also involves Dapper Labs reaffirming its commitment to the decentralization of Flow, as well as confirming the full transfer of all $FLOW coins as part of the ecosystem development reserve to the Flow Foundation. Dapper Labs can, does, and will continue to be a major holder of $FLOW and a major builder in the Flow ecosystem. The future of our products is fully open and composable, letting owners do anything they want with their assets and letting developers build new and innovative experiences without traditional limits. This includes working alongside the existing third-party platforms we all know and love including @fancraze, @aisportspro, @ownthemoment, @flowty_io, and others 🤝 Today’s resolution lets us stay focused on what matters – building great experiences for our fans. On this front, we have the best team we’ve ever had, and we are firing on all cylinders: - Our newest game, Fast Break, is now available for both NBA and WNBA on all platforms. Play every day and win awesome prizes 🔥 - The NBA Top Shot mobile marketplace is available in-app and almost ready for primetime – I think it's the slickest most mainstream-ready peer-to-peer marketplace in this space 💪 – Disney Pinnacle just ran its first in-app trading event, powered by @evaluatexyz, and it was one of the most exciting grassroots events we’ve seen in Web 3. Stay tuned for what’s next 👀 Leading up to the Flow Crescendo network upgrade this July, I expect Dapper will roll out account linking to everyone by default, letting users easily go from their custodial Dapper wallets, which keep them safe and allow for easy onboarding, into the non-custodial wallet world. In this new world, developers can build anything they want, permissionlessly, whilst users can still benefit from the security and ease of a custodial account 🔐 We believe this pattern will be the future of how consumer crypto apps will be built –– easy onboarding without sacrificing true ownership, openness, or composability. Or access to value-creation and earning opportunities only possible in the non-custodial world. Beyond our win today, the future of our industry and open digital systems relies on effective communication with policymakers and regulators. Dapper Labs will continue to engage at all levels to help ensure sensible approaches to this new technology –– which ultimately is much better for both consumers and creators because of its openness, transparency, and auditability. We encourage everyone who cares about the future of the internet to support @standwithcrypto