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- 📝 Is blockchain gaming under serious threat?
📝 Is blockchain gaming under serious threat?
PLUS: Consensys cuts 20% of staff, Pudgy Penguins reveal Vibes TCG, and more!
Nifty Notes Team
November 02, 2024
In partnership with
GM. This is Nifty Notes, the weekly newsletter that keeps you on the pulse with the biggest developments in NFTs, web3 and the metaverse.
Here’s what we’ve got for you today:
Immutable hit with SEC Wells notice 👀
Consensys cuts 20% of its workforce 🔻
Pudgy Penguins reveal Vibes TCG 🕹️
INSIGHTS: Checks grew as interest in Jack Butcher’s work sparked once again - with another of his collections, Opepen Edition, following suit - and Peplicator rose ahead of the U.S. election. Gangster All Start fell as their new art was poorly received, Goblinarinos declined post-mint, and Rektguy slowed following the launch of Rekt Drinks.
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Immutable hit with SEC Wells notice 👀
Blockchain gaming company Immutable have been issued with a Wells notice by the U.S. Securities and Exchange Commission (SEC), raising concerns about whether sales of their $IMX token violate securities laws.
According to Immutable, the Wells notice relates to $IMX token activities dating back to 2021, though specific claims were not detailed. The company indicated that it sought preliminary discussions with the SEC, but was issued the notice shortly after its first contact with the agency.
Over the past several years the SEC have issued Wells notices to web3 companies such as Coinbase, Ripple and OpenSea, with legal proceedings largely still ongoing. Immutable has stated that its operations remain unaffected.
Consensys cuts 20% of its workforce 🔻
MetaMask developers Consensys have confirmed plans to cut 20% of its staff - over 150 of its 800+ total employees.
In a statement posted to X, CEO Joseph Lubin stated that “regulatory uncertainty” and “broader macroeconomic conditions” were the root cause, and communicated a need to “stay competitive” and become a “more agile, more effective” company moving forwards.
The company is set to reveal future developments for its flagship products - including MetaMask and Linea - at Devcon 2024, starting November 12.
Pudgy Penguins reveal Vibes TCG 🕹️
Pudgy Penguins have revealed an upcoming branded trading card game, titled Vibes. The game is being developed by Orange Cap Games, who have recently announced a $2 million USD investment round.
Scheduled for release in Q4 2024 - in both digital and physical formats - Vibes is intended to bring Pudgy Penguins fans a classic TCG experience with a Pudgy twist, incorporating the characters, personality and art style of the brand.
This is the latest step in Pudgy’s efforts to become a global entertainment powerhouse, after the continuing success of their US-wide plushie toys, and with MMO title Pudgy World just around the corner.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and always do your own research.