the latest news in NFTs + crypto art + web3
Half of the most popular NFT marketplaces–Blur, Looksrare, and Sudoswap–do not appear to have a designated DMCA agent or procedure to receive copyright notices for alleged infringement listed on their websites. Nor does the Copyright Office database contain a registration for a designated DMCA agent.
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This is a great development for Web3 during one of the darkest moments in the crypto world. Credit goes to all the artists, creators, and allies who organized a campaign to convince OpenSea not to rollback its respect for creator royalties. Incredible to see a decentralized campaign in action!
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Point 1: “Zero royalties” policies have produced a destructive race to the bottom with more money being diverted away from creators to avoid paying them royalties. The following graph shows that the market share of OpenSea (which respects creator royalties) has decreased from above 80 percent to around 50 percent this year. The dramatic shift…
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Artists Unite to Protest Efforts to Eliminate Creator Royalties Below I collect some of the impassioned pleas from artists! Let’s go, creators! All Seeing Seneca, one of artists who created Bored Apes Betty, co-creator of Deadfellaz Snoop Dogg and FEWOCiOUS iwwon, creator of CryptoMories Bobby Hundreds
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Yesterday, the U.S. Attorney for the Southern District of NY Damian Williams announced an indictment against Nathaniel Chastain who allegedly traded at least 45 NFTs while working at OpenSea based on confidential business information that OpenSea would feature the NFTs on its website (thereby attracting greater demand). Chastain allegedly profited by selling the NFTs at…
Read MoreWeb3 promises a better, decentralized world, not controlled by “Big Tech” Internet platforms like Facebook. Blockchain is at the center of this movement to decentralization. But, when something goes wrong, it’s difficult to undo. Transactions on blockchain are permanent. And the names of recipients of transactions on blockchains are not readily identifiable. Anonymity reigns supreme.…
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February 19, 2022 was a bad day for OpenSea. It is still investigating but apparently some nefarious person engaged in a phishing attack on OpenSea users that resulted in the theft of at least 254 NFTs. The thief reportedly has $1.7 million in ETH from sales.
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OpenSea, the largest marketplace for NFTs, just secured Series C funding of $300 million, with a valuation of the company at $13.3 billion. In July, the valuation was $1.5 billion, with a $100 million round of funding. As the financial gurus debate whether $13.3 billion is too high, we have a more simple, if not…
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Amidst disagreement over NFTs among gamers, Konami is moving forward with a 35th anniversary collection for its game Castlevania on Jan. 12, 5 pm ET to Jan. 14, 9 pm ET. The Castlevania 35th anniversary NFTs will be sold on Open Sea here.
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Sales of NFTs exploded on New Year’s Day 2022 reaching its highest level since October. (NFT Stats, which must be tracking beyond OpenSea doesn’t have Jan. 1 as a peak day, but instead has Dec. 31 as the day with the highest volume of NFT sales (62,126) since October. Either way, NFTs are skyrocketing–again.) OpenSea…
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