The complaint says the fear of potential enforcement actions against NFT projects is “having a chilling effect on NFT artists across the[U.S.].” The plaintiffs in the case, conceptual artist and law professor Bryan Frye and musician Jonathan Mann, also known as “Song-A-Day Man,” are putting their ready-made NFT projects on hold until a court grants them protection from a “credible threat” of future SEC investigation or litigation. Their lawyers argue that would “inflict a financially devastating blow on[their]artistic endeavors.”
