Impact Theory from Los Angeles fell under the distribution. The company sold NFTs of 3 tiers for $30 million, and the SEC brought a lawsuit against it.
According to the commission, she was selling NFTs as unregistered securities.
Impact Theory decided not to fight and pledged to create a fund to compensate investors for losses, as well as pay a $6.1 million fine.
Of course, this does not mean that the SEC will immediately begin hunting for other NFT companies. However, this is the first legal precedent between the SEC and the NFT market.
Therefore, other NFT projects need to be careful, otherwise... $6 million in fines and compensation.