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What will be the outcome of Flyfish Club's business model by September 17, 2025?
2
Resolution / Starting Odds
Successful Launch • 25%
Delayed Launch • 25%
Cancelled Project • 25%
Other • 25%
Official announcements from Flyfish Club or major news outlets
Story
Flyfish Club, Backed by Gary Vaynerchuk, Settles with SEC Over NFT Violations, Pays $750,000 Fine
Sep 16, 2024, 11:48 PM
Flyfish Club, a planned private dining club and restaurant in New York City, has settled with the U.S. Securities and Exchange Commission (SEC) over alleged violations related to the sale of non-fungible tokens (NFTs). The club, supported by entrepreneur Gary Vaynerchuk, sold NFTs as the exclusive means of accessing the yet-to-be-built venue. Between August 2021 and May 2022, Flyfish Club raised $14.8 million by selling approximately 1,600 NFTs. The SEC deemed these NFTs as unregistered crypto asset securities, leading to a $750,000 fine. As part of the settlement, Flyfish Club agreed to destroy all NFTs and cease accepting related royalties.
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Increase in sales • 25%
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Successful restructuring and exit from Chapter 11 • 25%
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Sale of major assets or brands • 25%
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Before March 31, 2024 • 25%
Between April 1, 2024 and June 30, 2024 • 25%
Between July 1, 2024 and September 30, 2024 • 25%
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Acquired • 33%
Receives major investment • 33%
Remains independent without major changes • 33%
Under $200 million • 25%
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Improved significantly • 33%
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Improved significantly • 25%
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Successful restructuring • 25%
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Complete liquidation • 25%
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Fail to secure any new partnerships • 25%