Ethereum遊戲初創公司 Immutable 已收到美國證券交易委員會 (SEC) 的 Wells 通知。 Immutable 抱怨美國證券交易委員會故意對加密初創公司粗暴對待,儘管幾乎沒有證據表明其造成了傷害。
Immutable (IMX) 是 2021 年玩賺錢熱潮期間最熱門的遊戲項目之一。該項目結合了 NFT 市場和第三方遊戲開發商的 L2 擴展解決方案。
Immutable 的推出發生在加密市場的樂觀時期。該項目在預售中成功籌集了 3.2 億美元,其中超過 14% 的 IMX 代幣面向公衆。這正是 SEC 所針對的爭論焦點,指責 Immutable 發行了未註冊的證券。
美國 SEC 聯繫 Immutable 進行對話,並立即發佈了 Wells 通知。在獲得公衆回應的機會後,Immutable 現在面臨行動。該通知可能會在訴訟之前發出,但並不保證 SEC 的下一步行動。
Immutable 已收到美國證券交易委員會 (SEC) 發出的威爾斯通知,這是其事實上的執法監管政策的最新進展。我們在第一次談話後的幾個小時內就收到了這一消息,時間顯然加速到了選舉之前。
可悲的是,這樣的故事正在變得……
—不可變 (@Immutable) 2024 年 10 月 31 日
Following the news of the Wells notice, IMX tokens slid from $1.37 to $1.22, falling to a one-month low. However, the SEC investigation also triggered a renewal in open interest. For IMX, open interest rallied from lows of $22M up to $27M within a few hours. IMX is seen as a risky proposition, though also as an opportunity to quickly recover from its lows.
IMX is represented on most major exchanges, including Binance and Coinbase. So far, Wells notices have not led to delistings for other projects, with the exception of XRP, which was delisted from Binance for a year.
Immutable has encountered the SEC’s approach of targeting high-profile on-chain projects with a direct attempt to levy fines or cause protracted, expensive lawsuits. The SEC has targeted industry leaders like Coinbase, Crypto.com, and Uniswap.
Other projects affected by SEC’s approach of direct action include Consensys, Ripple, and OpenSea.
The Wells notices suggest the SEC has discovered infarctions in the project’s activities, with the possibility of launching a lawsuit. Immutable noted that the SEC did not give material explanations on its findings or which aspect of the project’s business triggered the investigation. The team suggested the SEC may be on a general war against crypto projects, even without specific regulatory findings.
The SEC has targeted Immutable based on securities law, most probably because of its private and public placement in 2022, followed by exchange listings. According to Immutable, the SEC’s allegations of selling unregistered securities are vague.
Despite this, the case of Ripple has shown that the SEC can keep up the fight for years, preventing projects from innovating and tapping liquidity.
Immutable stated it is ready to be compliant, but is against aggressive enforcement with no clear means to amend the business model. Instead, the SEC has launched expensive and protracted lawsuits against multiple projects. The SEC has even lost some of the lawsuits, though not without causing delays for the projects.
Immutable became a staple in the gaming space, drawing in games like Gods Unchained, Etherbots, and Guild of Guardians. The platform itself worked as an L2, aiming for wide adoption. The project is well-funded and can continue to innovate as interest in Web3 projects returns.
IMX tokens can also be staked, in exchange for rewards coming from the ecosystem development fund. IMX tokens are 78% unlocked, getting closer to their fair value. The platform does not carry a DeFi space and only locks around $24.51M in liquidity.
The L2 solution does not behave like other chains aiming to tap Ethereum liquidity. Instead, Immutable aims to give a fast, scalable network for gaming. Immutable is also working on a zero-knowledge solution and has achieved partial decentralization. According to L2Beat, Immutable has achieved three of the five milestones for zero-knowledge chains.
Immutable carries dozens of games and apps, though some of them have limited on-chain activity. Gods Unchained remains the top app, mixing NFT and competition. Immutable also carries Illuvium (ILV), one of the high-profile 3D games. The notice arrives at a time when on-chain gaming attempts to make a return, this time in a more sustainable way compared to 2021.