the latest news in NFTs + crypto art + web3
The tech world is waiting with bated breath for Apple’s expected announcement of its new mixed-reality eyeglasses, reputed to be called Reality Pro, on June 5 at its WWDC event. As customary for Apple, it hasn’t confirmed the eyeglasses’ existence, even though it’s been widely reported by the major media, including the New York Times and Wall St. Journal. Apple’s slogan for its June 5th event teases: “Code new worlds.”
Hello, metaverse?
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Most NFT projects faced a steep decline in their floor prices during the crypto winter, which is still ongoing.
But Moonbirds was considered one of the blue chip projects, at least in the same category as Doodles and CloneX. And it had $50 million in reserves, a luxury that few NFT projects have.
In this crypto winter, it’s quite possible that Moonbirds would have fallen to where it has, even if the team had avoided the missteps. On the other hand, the revival of Pudgy Penguins provides at least one major success story during the crypto winter that shows it can be done.
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Sotheby’s auction of the bankrupt Three Arrows Capital (3AC) NFT collection was a huge success. The auction brought in $2.5 million, exceeding expectations.
Tyler Hobb’s Fidenza #725 was the highest sale at $1 million, far exceeding the expected $180,000.
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Grant Riven Yun had a big day. A very big day. The NFT digital artist, based in Milwaukee, saw one of his artworks, Midwest, sell for $107,100 at a Christie’s auction.
Yun describes his distinctive style as “Neo-Precisionism,” a mix of minimalism and nostalgia.
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Happy to share this video with you, announcing my new website NouAI.art [click here].
We’ll cover the latest news and controversies related to AI art, as well as have interviews with AI artists. Sometimes, we will cross post articles, but please visit our new site.
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Neither the Copyright Clause nor the Copyright Act imposes a requirement that authors must exercise exacting control over the creative process, much less that they must be able to predict ahead of time the final product in every aspect. Such a crabbed view of authorship goes against how artistic works are often created.
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A jury in New York found Nate Chastain, the former Head of Product of Opensea, guilty of wire fraud and money laundering for his conduct back in September 2021.
The case is often described as “insider trading” of NFTs, even though technically the case did not include insider trading of securities. In a prior post, we explained the Supreme Court precedent, Carpenter v. United States, which supports the application of the wire fraud statute to a situation in which an employee uses confidential business information of his employee, without authorization “devis[ing] any scheme or artifice … for obtaining money or property by means of false or fraudulent pretenses.”
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If anyone does any research, the adoption of NFTs by businesses just keeps growing.
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This important lesson of history helps us understand today’s backlash against NFTs. In my book Creators Take Control, I explain how Tokenism has created a new type of virtual ownership in digital and AI artworks. What Cubism did in radically transforming artistic perspective through “cubes,” Tokenism does today in radically transforming ownership of art and other subject matter through “tokens.” In so doing, it has ushered in a Virtual Renaissance, with an explosion of digital and AI art.
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Late Friday, Judge John Walter granted summary judgment in part to Yuga Labs in its trademark infringement lawsuit against Ryder Ripps and Jeremy Cahen, for their sale of “RR/BAYC” NFTs.
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