'Gas Hero' NFTs Top Charts—But the 'Stepn' Maker's Game Is Blocked in the US

Gas Hero, the latest NFT game from Find Satoshi Lab, has gained significant traction in terms of NFT sales volume, with several collections claiming top spots on charts. However, it's noteworthy that the game is currently blocked in the United States and 15 other regions due to regulatory and possibly other legal or sanctions-related concerns.

Gas Hero's Terms of Use explicitly state that users from the United States, as well as gamers in several other regions including China, Canada (specifically the province of Ontario), Cuba, Crimea and Sevastopol, Iran, Afghanistan, Syria, North Korea, Antigua and Barbuda, Hong Kong, Thailand, Malaysia, and India, are not allowed to play the game. This restriction appears to be a proactive measure to comply with regulatory policies and potential legal issues in these jurisdictions.

The decision to ban China-based users from the move-to-earn game Stepn, another project by Find Satoshi Lab, in May 2022 was also mentioned. This move was reportedly made in response to regulatory policies, leading to a significant drop in the Stepn token price.

The mention of the province of Ontario in Canada being singled out suggests that this decision might be influenced by the Ontario Securities Commission's (OSC) stance on initial coin offerings (ICOs). The OSC has previously stated that ICOs could be classified as securities in Ontario. Additionally, a representative for the OSC emphasized that NFTs could be subject to securities rules based on various factors, including the terms of the NFT, how it is marketed and sold, and how it is custodied. Marketplaces' interactions with traders could also play a role in determining whether an NFT could be considered a security or derivative.

Gas Hero's success in NFT trading is notable, but its restriction in certain regions, including the United States, reflects the complex regulatory landscape surrounding blockchain-based games and NFTs.

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