Ethereum Gaming Project SEC Investigation Ends

SEC Ends Investigation into Ethereum NFT Project CyberKongz

• The U.S. SEC concluded its investigation into the CyberKongz project without findings or enforcement.
• CyberKongz had received a Wells notice from the SEC in December, indicating potential enforcement action.
• The investigation focused on the use of its BANANA token and Genesis Kongz contract migration in 2021.
• CyberKongz launched its genesis NFT collection on Ethereum in 2021, later expanding to Ronin sidechain in 2023.
• The flagship NFT collection’s price now starts at $5,447 worth of Ethereum.

The SEC has closed its investigation into CyberKongz, which centered around their token usage and contract migration. The project’s flagship NFT collection currently starts at $5,447 worth of Ethereum.