Set Venue

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