The CEO of NFT platform Mintable says he believes new U.K. NFT regulations exaggerate their role in copyright infringement and don’t fully recognize their value.
YugaLabs won a $1.57 million court battle against NFT artists Ryder Ripps and Jeremy Cahen because of disgorgement and damages.Welcome to the latest edition of Cointelegraph’s Nifty Newsletter. Keep reading to stay up-to-date with the latest stories on nonfungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to dig deeper into the latest NFT trends and insights.were offered physical versions of their NFTs for 48 hours.
The sale lasted only 48 hours, with two physical versions of the CryptoPunks being offered. The first is called “Punk-On-Chain,” exclusively for the owners of the punks, and the second is called “10,000 On-Chain,” which is a print collection of all 10,000 CryptoPunks open to anyone.Despite the ongoing slump in the NFT market, several German companies have included NFTs in their business strategy. The German postal service will release its first limited-edition collectible stamp on Nov.
German automotive company Mercedez-Benz launched its third NFT collection, The Era of Luxury, in September. Its digital collectibles were made to be digital reinterpretations of standout designs over its seven design eras.NFT artists Ryder Ripps and Jeremy Cahen were ordered by a United States district court judge to pay Bored Ape Yacht Club creator Yuga Labs $1.57 million on account of disgorgement and damages, along with legal fees as an end to an ongoing “copycat” NFT lawsuit.
Yuga Labs claimed that Ripps and Cahen had violated copyright laws in creating copycats of its iconic Bored Ape Yacht Club NFT collectibles.The CEO of NFT platform Mintable, Zack Burks, told Cointelegraph in an interview that he believes the U.K.’s government is in danger of regulating NFTs in such a way that misrepresents the technology.
He claims a recent U.K. parliamentary report exaggerates NFTs’ role in copyright infringement and doesn’t recognize their worth more than just being volatile digital pictures.Thanks for reading this digest of the week’s most notable developments in the NFT space. Come again next Wednesday for more reports and insights into this actively evolving space.
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