OpenSea aims to win back users through zero fees, and eBay’s NFT marketplace launched a new smart contract for creators. All that and more in this week’s Nifty Newsletter!
platform launched a new creator smart contract. Learn how OpenSea plans to win back its users from its competitor, Blur, and check out why Yuga Labs was accused of intellectual property theft over the wolf skull logo. In other news, find out how NFTs will act as “high-end properties” during the market booms, and don’t forget this week’s Nifty News, featuring an NFT artist receiving $150,000 for a meme on Ordinals.
The KnownOrigin NFT platform was acquired by eBay back in June 2022. Though the amount was undisclosed, the platform’s co-founder David Moore said that KnownOrigin aims to empower NFT creators and collectors.NFT marketplace OpenSea announced a new move to win back its users from its competitor Blur, which recently surpassed its platform in daily Ether trading volume on Feb 18, according to data from statistics platform Nansen.
The platform made three big changes on the same day to attract more users, including temporarily lowering the OpenSea fee to zero percent and moving to optional creator earnings.Yuga Labs, the creators of the popular Bored Ape Yacht Club NFT collection, have been accused of IP theft for its wolf skull logo. In a tweet, an NFT artist pointed out that Easy Drawing Guides first did the skull used for the Bored Ape Kennel Club.
The company also responded to the commotion on Twitter, confirming that Yuga Labs had no license to use the drawing. The firm also pointed out that the intellectual property rights for the drawing belong to them, and their terms and conditions protect it.In a YouTube video on Feb. 20, Real Vision CEO Raoul Pal stated his beliefs that NFTs have the potential to become “high-end property” in crypto market boom cycles.
The executive also highlighted that popular collections like CryptoPunks and BAYC are considered status symbols within the crypto space, likened to owning luxury cars and houses.An NFT artist received 6 Bitcoin (
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