OpenSea co-founder and CEO Devin Finzer declared a major victory for the non-fungible token (NFT) industry following the conclusion of a lengthy SEC investigation. The announcement came after the U.S. Securities and Exchange Commission (SEC) confirmed its probe into the marketplace is complete. Finzer highlighted that classifying NFTs as securities is a legal misunderstanding, arguing it could hinder innovation within the sector. This follows a Wells notice issued by the SEC in August 2024, accusing OpenSea of operating as an unregistered securities trading platform. Despite competing platforms, Magic Eden’s Chief Business Officer Chris Akhavan also views this as a significant win for the NFT industry, with both companies advocating for the future of NFTs.