Soulja Boy Back to Selling NFTs Weeks After SEC Charges of Illegal Crypto Promotion


06 April 2023 09:42, UTC


Studying time: ~2 m

American rapper Soulja Boy launched Restricted Version Soulja Boy 3D NFTs (non-fungible tokens) days after the SEC charged him with unlawful crypto promotions.

Nonetheless, that didn’t cease the rapper’s new NFT assortment from promoting out in a matter of hours.

Shilling NFTs Amid SEC Fees

The Restricted Version Soulja Boy 3D NFTs are comprised of 500 objects on the Ethereum blockchain. It guarantees unique unlocks on the upcoming Soulja Boy 3D Meta online game and member-only benefits.

As per OpenSea, the gathering has a complete quantity of 68 ETH, which comes near $128,000 on the time. The NFTs command a ground worth of 0.1029 ETH on the platform. At press time, the Restricted Version Soulja Boy 3D NFTs have 246 house owners with 683 gross sales, of which 49% are distinctive house owners.

Soulja Boy 3D NFT Assortment for Sale on OpenSea Amid SEC Fees

Soulja Boy, the stage title of DeAndre Cortez Approach, gushed on social media about his NFTs’ quick promoting success. In March, the Securities and Change Fee (SEC) charged Soulja Boy and a handful of different celebrities for undisclosed crypto promotions.

Among the many accused was Justin Solar and his ‘three wholly-owned companies,’ together with Tronix and BitTorrent Basis Ltd., for making unregistered provides and gross sales of Tronix (TRX) and BitTorrent (BTT). Along with Soulja Boy, the regulator additionally charged seven different celebrities for unlawfully selling TRX and BTT with out disclosing compensation.

Hassle Follows Soulja Boy

Based on reviews, celebrities like Kim Kardashian, Lindsay Lohan, and Akon have paid $400,000 in fines. It’s not clear if Soulja Boy has settled these expenses with the SEC on the time of press.

The rapper first entered the NFT bull market in 2021 by asking his Twitter followers tips on how to promote his tweets digitally. Inside hours, he fetched an outrageous $1,288 for a signed NFT of that tweet.

That stated, Soulja Boy and the American stay video streaming web site Twitch have locked horns since 2021. The rapper was additionally repeatedly banned from the Amazon-owned website, which reportedly prompted him to give up the platform. Twitch by no means publically gave a purpose for the ban.

In the meantime, Soulja Boy can also be going through trial in a separate assault case.

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