Actually, though, this looks like it steps over the SEC line unless they have filed with the SEC. Look at the Howey Test. You don't have to have an ICO to violate the regulations. They are clearly selling crypto (which is treated like stock) NFTs with the buyers having an expectation of profits.

Splinterlands is, at least, clearly a very playable game that is likely covered/grand-fathered under the physical CCG case since most players are buying it with an intent to play rather than solely for profit. My prediction has always been that it is just barely on the safe side of the line.

Mythical has clearly stepped over the line. It claims that it is a game but it's clearly a transparent effort to print money. It would be an awesome case for the SEC to demonstrate EXACTLY where the line is.