celebrated<\/a> <\/strong>the closure on social media, calling it a significant victory for both NFTs and creators pushing the digital ecosystem forward. Yuga Labs emphasized that NFTs are not securities, reinforcing their stance in the ongoing regulatory debate.<\/p>\nThe SEC initially launched its probe in 2022 to assess whether certain NFTs offered by Yuga Labs, such as those from its Bored Ape Yacht Club and Mutant Ape Yacht Club collections, resembled traditional securities. This investigation was part of a broader initiative to examine the NFT market, including fractional NFTs and their potential classification as securities. However, the inquiry, which began under former SEC Chair Gary Gensler, has now been put to rest.<\/p>\n
During the probe’s duration, Yuga Labs continued to make waves in the NFT market, and its Bored Ape collection saw a slight increase in value following the announcement of the investigation’s closure. Despite this, the value of Yuga Labs’ flagship NFT collection is still down significantly from its peak in 2022, with current floor prices showing a 90% decrease compared to their highest points. Other assets tied to the company, such as Mutant Ape NFTs and ApeCoin, have also experienced dramatic declines.<\/p>\n