"OpenSea has received a Wells notice from the SEC threatening to sue us because they believe NFTs on our platform are securities," OpenSea's CEO Devin Finzer wrote on social media platform X.
"We're shocked the SEC would make such a sweeping move against creators and artists. But we're ready to stand up and fight," he added.
"I hope the SEC will come to its senses sooner rather than later, and that they'll listen with an open mind," he added.
As Finzer pointed out, however, OpenSea's receipt of a Wells notice is still a move into uncharted territory, because it implies that the SEC considers NFTs to be securities.
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