My genesis CNFT was released in September of 2021. As an unknown digital singer-songwriter cat with no real audience. I thought the best way to set-up my CNFT was as an investor model where I offered 50% of future merch profits for up to 10,000 holders. I know this appears as a security and may put up some red flags, but as a Canadian living in Taiwan, I didn’t think it would be much of an issue. I have talked to the holders that I have contacts for on twitter about this and they all seem to believe that it shouldn’t be a big deal, but this is NOT legal advice. I stopped promoting it and started building something new which resulting in the new CNFT series I’ve created. I will honor the agreement of merch sales with current holders once we get that going.
– Sam Katman
February 27, 2022