NFT Collections Surprise Holders with Company Share Giveaways

During the holiday season, the founders of two collections of nonfungible tokens (NFT) announced that they would be giving away firm shares to holders of NFT.

On December 25, Pons Asinorum, the inventor of The Plague NFT collection, announced that holders of their NFTs would receive a proportion of company shares based on the number of unlisted NFTs they own.

The founder of the NFT asserted the legitimacy of the transaction, stating that although there could be potential legal and regulatory issues involved, the shares were not sold. Holders of NFTs did not anticipate receiving shares when they purchased their NFTs, according to the founder, who stated that they had conducted discussions with several attorneys regarding the legal implications of the move.

After a few days had passed since the initial statement, another founder of a well-known NFT collection made a similar announcement.

Ovie Faruq, also known as OSF in the NFT world, made the announcement that their NFT holders will receive stock in their company, Rekt Brands Inc. Ovie Faruq, also known as OSF in the NFT world, made this announcement to the public on January 1.

According to the executive, this is a present of appreciation to collectors who have supported Rektguy as an artistic endeavor. In addition, Faruq made it clear that trading the NFTs would not result in the transfer of any stock. The co-founder of Rektguy also made the implication that this was being done legally.

“We are proud of the work that we have done behind the scenes to accomplish this in a manner that is both valuable and compliant.” The Plague has an all-time sales volume of over $7 million, while Rektguy has over $28 million, as reported by CryptoSlam, a cryptocurrency tracker that specializes in non-fungible tokens.

Members of the community responded to the news by arguing whether or not the actions were a “game-changer” or whether they were simply a charade. The researcher in residence at Azuki, Waleswoosh, believes that this practice is permissible “under certain circumstances.”

Based on the findings of the researcher, it was determined that the eligibility requirements had already been met in both instances. Waleswoosh claimed that the NFTs were not sold to sell equity in the company.

During this time, a few individuals voiced their desire that competing brands would comprehend the implications of the situation. A member of the community stated that there may be a variety of applications for it and that it could revolve around real equity.

According to what they wrote, “the most realistic one is NFTs/Trait market share; you generate sales, and a percentage goes to a specific holder.”