OpenSea emphasizes that NFT marketplaces are not brokers! In a letter to the SEC, OpenSea's legal team explained that NFT platforms like theirs do not provide investment advice, do not execute trades, and do not hold user funds.

- OpenSea enables peer-to-peer trading of NFTs, unlike traditional brokers. They urged the SEC not to categorize NFT platforms as brokers or exchanges.

- Recently, the SEC closed its investigation without charges, offering hope for the NFT industry. OpenSea CEO Devin Finzer welcomed this decision, as misguided rules could hinder innovation.

- Although the NFT market is sluggish, hope remains. With clearer regulations, investor confidence could improve, and innovation could flourish again. 🚀