the latest news in NFTs + crypto art + web3
The article is pretty one-sided and negative about NFTs.
Even worse, the article fails to acknowledge that the Rolling Stone helped to promote NFTs and in fact collaborated with the Bored Ape Yacht Club to sell special edition Rolling Stone covers depicting Bored Apes.
But we kept receipts.
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The Nouns NFT project was one of the most innovative projects. It adopted a unique model of selling one new Nouns NFT a day–to my knowledge, not replicated by any other project. And it also adopted the Creative Commons 0 license, abandoning all copyrights in their Nouns characters.
The project has been quite successful, including engaging in a partnership with Anheuser Busch, which included the Nouns signature square glassses in a Super Bowl ad two years ago.
Well, I was pretty surprised to learn that all is not well with the Nouns project. Apparently a vocal faction of Nouns holders have convinced the Nouns DAO to buy back their NFTs at 35.5 ETH ($55,359)!!
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In a set of NFTs titled “Winds of Yawanawa,” Anadol collaborated with the Yawanawá people in Brazil to create 1,000 “data paintings” generated from real-time weather data taken from the Amazon rainforest, where the Yawanawá people live; and the data are then fed into an AI program to produce the stunning visual artworks.
The collection of NFTs have continued to rise in floor price, at one point reaching an ATH of 12.22 ETH. Currently, the floor price is above 10 ETH ($16,228 USD). It defies the massive downturn in the NFT market–and shows that some artists are still flourishing.
Anadol is donating all of his proceeds back to the Yawanawá people. So far, the NFT sales have raised $3 million for the Yawanawá people to “build a museum, school, and village.”
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Let’s assume that Impact Theory’s NFTs aren’t the only ones that might be unregistered securities under the Howey test. What corrective action will the NFT companies face if they face an enforcement action or lawsuit in which it is found the NFTs are unregisered securities?
Rescission offer: Well, the SEC says on its website that companies violating the registration requirement for securities might have to refund the monies to their investors, plus interest, in what’s called a rescission offer.
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Why utility NFT projects should be worried Will NFT projects be required to buy back their NFTs?
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Hanne Van Briel is a generative AI artist, photographer, and abstract artist based in Belgium. In this podcast, she shares her experience using Midjourney, an AI text-to-image generator, and how it has sparked her creativity and artistic pursuits. We also discuss the debate over AI art as a new art, and whether AI art should be eligible for copyright. You can follow her art on Twitter.
In today’s selection, we discuss how Van Briel first became interested in generative AI, what her first reaction to Midjourney was, and how she has amassed so quickly a following of her art on Twitter.
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As the entire NFT market for pfp collections saw a blood bath, the news media started to investigate the possible reasons for the crash.
Many experts and commentators pointed to the same culprit: Blur.
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On June 28, 2023, the blue-chip Azuki project made a rookie mistake. It launched a second generation of Elemental NFTs with characters that, well, frankly looked like clones of the first-generation or OG Azukis.
This is such a rookie mistake — it’s hard to believe one of the top projects can make it in 2023.
The Azuki team tried to explain why they used basically the same art style for the Elementals: they considered other styles, but wanted “to come back to the art that ppl knew and loved.”
If that’s the reason, it’s a terrible strategy.
Anyone who has followed NFTs knows that the cardinal sin is diluting the OG project with a second-generation that looks too similar to or even better than the first generation.
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This week, the FUD about the Bored Ape Yacht Club has hit an all time high, as its floor price continues to plummet.
Down 78% from its ATH on April 30, 2022 (153 ETH), and down nearly 50% in just the past 90 days, the FUD about BAYC on NFT Twitter has been loud this week.
Meanwhile, the CryptoPunks’ floor has fared somewhat better. It’s down 60% from its ATH (125 ETH) on Aug. 28, 2021, and around 25% in the past 90 days.
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