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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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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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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“WE FIND IT PROBLEMATIC THAT THERE’S A RACE TO THE BOTTOM between different marketplaces … with less and less of them honoring creator royalties.” – Greg Solano
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More shocking news this week: Wylie Aronow just announced he was diagnosed with congestive heart failure by his doctor. He is stepping down from an active role at Yuga Labs, but remaining on the Board and as a strategic advisor.
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The court’s order on Jan. 8 anticipated that the Jan. 9 deposition of Aronow might need to be rescheduled (given the shortness of time after the court’s order), but the order seems to anticipate the Jan. 11 deposition of Solano will occur. Well, neither happened.
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As Yuga Labs prepares to mint new NFTs related to “The Trial of Jimmy” in January, its co-founders Wylie Aronow and Greg Solano may be having trials of their own in the form of depositions conducted by Ryder Ripps, the person who has waged a campaign against them alleging that they “are intentionally embedding Nazi dog whistles throughout their project.”
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