NFTs, or non-fungible tokens, have recently reached another important milestone. Two NFT collections, ‘The Plague’ and ‘Rektguy’, have announced that they are offering shares of their company to their NFT holders. This innovative approach raises questions about the legality and future of the distribution of business shares in digital assets.
The NFT’s initiative “The Plague”
Pons Asinorum, the founder of the NFT collection “The Plague”, stated that holders of their NFTs would receive a share of the company’s shares based on the number of unlisted NFTs they own. This decision, although potentially risky from a legal and regulatory standpoint, was deemed legal after consulting several lawyers. He pointed out that these shares were not sold but offered as gifts, without any initial expectation of obtaining shares from NFT buyers.
This announcement has elicited a variety of reactions from the NFT community, ranging from excitement over potentially revolutionary development to skepticism about its practicality. Azuki, a researcher-in-residence, believes that these share gifts are legal under specific circumstances, mainly because the eligibility criteria were established in the past, and the NFTs were not originally sold with the promise of fairness.
The innovative approach of “Rektguy”
Similarly, Ovie Faruq, co-founder of “Rektguy”, announced that holders of their NFTs would receive shares in ‘Rekt Brands Inc.’ as a mark of appreciation for their support of the art project. Faruq clarified that the trade in NFTs ‘Rektguy’ would not result in the transfer of rights to the share, and also affirmed the legality of this initiative.
This initiative represents a significant evolution in the NFT space, where now two collections have offered shares to their holders, further aligning the incentives. It is a pioneering approach to reward and engage the community, which can set a new trend in the NFTs market.
