NFT News

Court rejects Dapper Labs’ motion to dismiss NBA Top Shot securities case

February 23, 2023 1 min read

Dapper Labs, the company behind the popular non-fungible token (NFT) collection, NBA Top Shot, has been denied its request to dismiss a lawsuit alleging that the collection is an unregistered security. District Judge Victor Marrero ruled that the NBA Top Shot collection appears to meet the requirements of a security under the Howie Test. The collection allows users to collect video highlights from the National Basketball Association in the form

Ubisoft Expands Web3 Presence with Launch of Rabbids NFTs on The Sandbox

February 23, 2023 1 min read

Ubisoft, the video game publisher behind popular franchises such as Assassin’s Creed and Just Dance, has released Rabbids NFT avatars for The Sandbox, an Ethereum metaverse game. This is not Ubisoft’s first venture into the Web3 world, as it previously released in-game NFT items for Ghost Recon Breakpoint. The Rabbids NFT avatars are being sold for 100 SAND, or about $78, each on the Ethereum scaling network Polygon. The sale

OpenSea Eliminates Trading Fees, Reduces Creator Revenue

February 20, 2023 1 min read

OpenSea, the leading NFT marketplace, has announced a set of changes to its fee and royalty structure. These changes will have a significant impact on user activity, including that of collectors and creators. OpenSea tweeted on Friday, February 17, that it would be implementing a 0% transaction fee policy, albeit only for a limited time. Previously, OpenSea had charged a 2.5% trade levy that formed a substantial part of its

BAYC Community Accuses Yuga Labs of IP Theft for Trademarking Logo

February 19, 2023 2 mins read

Yuga Labs, the creator of the Bored Ape Yacht Club (BAYC) non-fungible token (NFT) collection, has been accused of illegally trademarking the BAYC wolf skull logo without proper licenses. The logo was allegedly taken from a company specializing in drawing tutorials for beginners and children. NFTs were created to protect artists and their intellectual property. However, Yuga Labs has been accused of the very thing NFTs were created to prevent.

Napster Expands Web3 Presence with Acquisition of Mint Songs

February 16, 2023 1 min read

The Napster brand, known for its controversial peer-to-peer music-sharing platform in the late 90s and early 2000s, is taking its next step into Web3 with the acquisition of startup Mint Songs. Napster announced its move into blockchain last June with a plan to launch a token using the Algorand blockchain, and today, the Mint Songs acquisition will be the foundation for the company’s first Web3 offerings. Mint Songs co-founder and

Square Enix, the creators of Final Fantasy to Release NFT Game on Polygon Blockchain

February 16, 2023 1 min read

Japanese video game publisher Square Enix, the creators of Final Fantasy, Dragon Quest, and Kingdom Hearts, has announced that it will launch its upcoming NFT-based game, Symbiogenesis, on Polygon. The company previously stated that the game would launch on Ethereum, but has now chosen Polygon due to its faster transaction speeds, low gas fees, and user-friendliness. Symbiogenesis will feature 10,000 character NFTs tied to strategic game mechanics, along with other

Bored Ape NFT owner burns $169K artwork to move it from Ethereum to Bitcoin

February 15, 2023 1 min read

Over the weekend, a Bored Ape Yacht Club (BAYC) NFT was burned by its owner, Jason Williams, as a symbolic move to transfer its underlying blockchain from Ethereum to Bitcoin. The Ape, #1626, was previously sold for 108 Ethereum or nearly $432,000 in November 2021, and its recent burning means it cannot be traded on Ethereum’s network again. NFTs are unique digital assets that signify ownership of a specific item,

OnChain Monkey NFTs See Surging Demand on Bitcoin Blockchain

February 10, 2023 1 min read

The buzz surrounding Bitcoin-based NFTs continues to grow, with the recently-launched Ordinals protocol leading the charge. One established Ethereum NFT collection, OnChain Monkey, has taken advantage of this new technology, revealing Bitcoin-based counterparts for its artwork and seeing its prices soar as a result. OnChain Monkey is a collection of 10,000 Ethereum NFT profile pictures (PFPs) minted in 2021. Using the Ordinals protocol, the collection was “inscribed” onto the Bitcoin

Rihanna’s Hit Song Now Available as NFT with Royalty Sharing Before Super Bowl

February 10, 2023 1 min read

Rihanna’s popular hit single “B**** Better Have My Money” has been offered as a non-fungible token (NFT) by Web3 music startup anotherblock. This innovative platform works with rights holders, including artists, producers, and writers, to divest a portion of their streaming royalty rights, which are then offered as fractionalized NFTs. Music producer Deputy, who was involved in the production of the hit single, is granting a portion of his streaming

OpenSea in Hot Water as User Files Lawsuit for $500,000

February 9, 2023 1 min read

A prominent NFT creator and collector, Robert Acres, has accused OpenSea, the leading NFT marketplace, of negligence and extortion. Acres was the victim of an NFT phishing attack that resulted in the theft of two NFTs, which were then sold on OpenSea. Acres alleges that instead of promptly helping him retrieve his property and prevent resale by the thieves, OpenSea locked him out of his account for three months, causing

Hermès Secures Victory in Trademark Dispute Against MetaBirkins NFTs

February 9, 2023 1 min read

The verdict in the Hermès vs. Rothschild NFT trial has been reached, and the French luxury brand has come out on top. A nine-person jury ruled in favor of Hermès, awarding $133,000 in damages and determining that Rothschild had indeed profited from the brand’s goodwill by producing NFTs based on its Birkin bags. This case sets a powerful precedent for NFT creators and will have a lasting impact on intellectual

Dookey Dash Leaderboard Freezes as BAYC Dominates with $73 Million Trading Volume

February 9, 2023 1 min read

The Bored Ape Yacht Club, a well-known blue-chip NFT collection, has made headlines again by freezing the leaderboard for its latest addition to the brand: the video game “Dookey Dash.” The game was inspired by the popular Bored Apes NFTs and allowed players who possessed the “Sewer Pass” NFT to play and compete for the highest score. According to CryptoSlam, sales volumes for the NFTs reached nearly $73 million before