Cryptocurrencies from non-fungible token (NFT) marketplaces fell on Wednesday morning in the US, following news that OpenSea is facing possible US regulatory action.
Adding to previous losses alongside a broad crypto decline that started in the US on Tuesday evening, Blur (BLUR) fell another 5% in the minutes after the news before staging a modest recovery. The price has now fallen by 10% in the past 24 hours. Tensor (TNSR), a Solana-based NFT marketplace aggregator, also traded 3% lower. The price of the token has fallen by almost 9% in the last 24 hours. The broader CoinDesk 20 Index was down 4% over the same period.
The morning price action occurred as OpenSea’s CEO said the platform received a notice from Wells from the U.S. Securities and Exchange Commission claiming that the digital art being sold on the market is securities.
Read more: OpenSea receives notice from SEC’s Wells and calls NFTs sold on platform securities
