The company managed to secure around $30 million from multiple investors, both domestic and foreign, during the offering. In response to the Securities and Exchange Commission’s (SEC) charges, the exact violation being the Dramatica Theory’s infraction to the Securities Act of 1933 in which they advertised and sold tokens called “Founder’s Keys”, a Non-Fungible Token (NFT), for the aspiration of becoming the “next ” between September and December of 2021 which falls under the category of an investment contract according to the Howey legal rubric. Measures have been taken for an all-encompassing settlement in which the company would notrace no less than $6.1 million in terms of a penalty from the SEC which will in return provide employment to them to reimburse the investments and exterminate all of the NFTs that were used in consequent context. This elevation in transparency among the extrinsic field concerning crypto veneer and NFTs bring to fore the dense plausibility of watching frenzy that tends to jerk in and sparked the disciplined Sugar and Spice mantra to paramount the bloom of further vision the SEC press downs into this project.
