After raising $30 million from investors and generating $5.4 million selling NFTs on marketplace OpenSea, Los Angeles-based entertainment firm Impact Theory LLC has agreed to pay the Securities and Exchange Commission a $6 million settlement in what has been reported as the SEC’s first NFT enforcement action. Impact Theory was accused of selling “unregistered asset securities in the form of purported non-fungible tokens.” Purported, because the SEC claims the NFTs “sold to investors were investment contracts and therefore securities” and as such, are required by law to be registered. Continue reading SEC Treats NFTs as Unregistered Securities, Fines Company

After a short delay to address some glitches in the registration process, Turner’s FilmStruck SVOD service is now live. The new offering, developed and managed by Turner Classic Movies and the Criterion Collection, features select classic, foreign and independent films. The service costs $10.99 per month with the Criterion Channel, and $6.99 without (an annual sub to both is $99). While FilmStruck joins a growing field of subscription services, it is targeting cinephiles interested in indie and art-house fare, those who are willing to pay for cable TV in addition to streaming services. Continue reading FilmStruck Offers Classic, Foreign and Indie Films via SVOD

The FAA’s mandatory drone registration does not seem to be impacting UAV sales, which have grown 224 percent from April 2015 to April 2016 for a total of nearly $200 million, according to The NPD Group. Robotics Trends reports the FAA’s database indicates there are now “461,433 registered hobbyist drone owners in 39,471 zip codes.” NPD notes that DJI is the clear U.S. market leader at 49 percent, followed by Parrot (19 percent), Protocol (6.3 percent), Yuneec (5.6 percent) and 3D Robotics (4 percent). Drones with 4K cameras represented more than one-third of sales for the 12 month period, and GPS-outfitted drones accounted for 64 percent of sales. Continue reading Drone Sales Grow 224 Percent Year-Over-Year to $200 Million

The Federal Aviation Administration (FAA) just announced its rules for drones, in advance of the holiday shopping season when consumers are expected to purchase 700,000 of them. The rules, which call for all owners to register their drones in a national database with their names, home and email addresses, is aimed at allaying safety fears and encourage responsible ownership. This is the first time that owners have been required to register what are also known as unmanned aircraft systems. Continue reading FAA Releases New Drone Regulations in Time for Holidays

The Consumer Technology Association estimates there will be 400,000 drones under the Christmas tree this year. Just in time, a task force created by the Federal Aviation Administration has come out with a report detailing recommendations on how to regulate them. The task force, comprised of drone makers, technology companies, an airline pilots association and the government, says drone owners need to be entered into a federal database and should display a government-issued registration number on their drone. Continue reading FAA Task Force Releases Recommendations on Policing Drones

The Entertainment Technology Center@USC will host “Eventually OpenStack” on Monday, March 17 in Santa Monica. The event, scheduled for 6:30-8:30 pm and open to all, will examine how open source and cloud technologies are impacting the media and entertainment industry. Presenters include Yahoo’s Sean Roberts (board director at The OpenStack Foundation), DigitalFilm Tree CTO Guillaume Aubuchon, and Steve Hallett of Symantec. For more information, contact Erik Weaver at ETC or visit the event’s registration page. Continue reading Production in the Cloud: ETC to Host OpenStack Event Next Week