Category: Opensea

Cloned CryptoPunks are back on OpenSea marketplace after DMCA counter notice

According to the DMCA, PolygonPunks would have had to have claimed its material "was removed or disabled through mistake or misidentification."

Nonfungible token (NFT) marketplace OpenSea is once again listing the Polygon-based copy of CryptoPunks after a successful Digital Millennium Copyright Act counter-notice. 

In a Tuesday announcement on Twitter, the PolygonPunks project said its NFT collectibles were back on OpenSea after responding to a DMCA takedown notice from Larva Labs, the creator of CryptoPunks. The punks were booted from OpenSea in August after becoming one of the most popular collections on the marketplace.

Copyright and intellectual property laws are somewhat of a gray area in the crypto space. Larva Labs reportedly obtained a DMCA takedown notice for the Polygon-based CryptoPunks, which it was able to file by claiming that its rights over material on the internet had been infringed according to United States copyright law.

According to the DMCA, PolygonPunks would have had to have claimed its material “was removed or disabled through mistake or misidentification.” This now seemingly leaves Larva Labs with no other outlet to remove the punks without a court order.

Related: Minting, distributing and selling NFTs must involve copyright law

Data from DappRadar shows CryptoPunks is the third-most popular NFT project by trade volume, with roughly $10 million worth of tokens trading hands in the past 24 hours. OpenSea now lists 10,000 of the PolygonPunks and has sold $26,491 worth since the project returned to the marketplace 22 hours ago. In addition, Solana-based SolPunks are still trading on the Solanart marketplace.

These 3 NFT Projects Collectively Captured Over $10 Billion in Sales

These 3 NFT Projects Collectively Captured Over $10 Billion in SalesNon-fungible token (NFT) assets have taken the world by storm in 2021 and three current projects in the NFT universe have seen sales stretch into the billions. Statistics show that the NFT marketplace Opensea, the blockchain NFT game Axie Infinity, and the digital collectible series Cryptopunks have collectively captured over $10 billion in sales. Opensea, […]

NFT Fantasy Football Platform Sorare Raises $680 Million in Series B Led by Softbank

NFT Fantasy Football Platform Sorare Raises $680 Million in Series B Led by SoftbankOn September 21, the non-fungible token (NFT) fantasy football platform Sorare announced the company raised $680 million in a Series B funding round led by Softbank. The capital raise gives Sorare a new valuation of around $4.3 billion and the company plans to open a U.S.-based office. Sorare Reveals $680M Capital Raise Non-fungible token (NFT) […]

Largest NFT Market by Volume Opensea Launches Smartphone Application

Largest NFT Market by Volume Opensea Launches Smartphone ApplicationOn September 17, the largest non-fungible token (NFT) marketplace in terms of volume, Opensea, announced the launch of the platform’s mobile application. Opensea marketplace users can now access a wide variety of NFT collections on their smartphones by downloading the application from Apple’s App Store or the Google Play store. Opensea Launches Mobile App for […]

NFT Market Sales Begin to Improve After Last Week’s Massive Market Slump

NFT Market Sales Begin to Improve After Last Week's Massive Market SlumpSeven days ago, non-fungible token (NFT) marketplaces saw sales nosedive after reaching all-time highs during the month of August. A week later sales have rebounded to a degree and NFT marketplaces like Opensea, Rarible, and Superrare have seen improvements in terms of seven-day trade volumes. Opensea, Rarible, Hic et nunc, Makersplace, Superrare See NFT Weekly […]

Ethereum After 1559: Network Participants Burn Over 300,000 Ether Worth More Than $1 Billion

On August 5, 2021, the Ethereum network and its participants successfully completed the highly anticipated London upgrade, which saw the implementation of the Ethereum Improvement Proposal (EIP)-1559. Since then, 303,681 ether worth more than a billion U.S. dollars have been burned. More Than 300K Ether Burned Following EIP-1559 More than a billion dollars worth of […]

Opensea NFT Marketplace Claims Employee Profited From Insider Information

Opensea NFT Marketplace Claims Employee Profited From Insider InformationOn September 15, the top non-fungible token (NFT) marketplace, Opensea, revealed that an Opensea executive profited from insider trading. “Yesterday we learned that one of our employees purchased items that they knew were set to display on our front page before they appeared there publicly,” Opensea informed the public on Wednesday. Opensea did not name […]

NFT Market Sales Drop by More Than 50% — Popular NFT Collection Trade Volumes Nosedive

After non-fungible token (NFT) sales soared during the month of August, the first week of September’s NFT sales has been awful. Statistics show the number of sales in mid-August tapped a high of 193,693 sales but plummeted 86% to 27,053 sales on September 10. Metrics from the most used marketplaces show that volume has slid […]

FTX Launches Cross-Platform NFT Marketplace

ftxFTX, a spot and cryptocurrency exchange, announced the launch of an NFT marketplace on its trading platform today. According to the information provided by CEO Sam Bankman-Fried, the marketplace will be available both for customers in the U.S. and in other locations. FTX is likely trying to capitalize on the popularity of these instruments, which […]

End of August’s NFT Sales Tapped All-Time High at $1 Billion, Last Week’s NFT Sales Hit $821 Million

Data shows that non-fungible token (NFT) assets continue to break record sales week after week as statistics show over $1 billion in NFT sales took place during the last week of August. Meanwhile, this week’s data shows $821 million in NFT sales have been settled so far, dropping a hair since the week prior. Weekly […]

Metamask Surpasses 10 Million Monthly Active Users, Climbing 1,800% in 12 Months

Metamask Surpasses 10 Million Monthly Active Users Climbing 1,800% in 12 MonthsOn Tuesday, the noncustodial digital currency wallet Metamask announced that the platform has surpassed 10 million monthly active users (MAUs). Year-to-date, Metamask has seen 19x growth since July 2020 as MAUs climbed 1,800% in 12 months. Metamask Hits Over 10 Million Monthly Active Users There’s no doubt that Metamask has been a popular Ethereum blockchain […]

Three Arrows Capital execs launch NFT fund

The new fund, Starry Night Capital, plans to exclusively invest in “the most desired” NFTs on the market.

Executives hailing from Singapore-based fund manager, Three Arrows Capital (3AC), have launched a fund focused on collecting premium digital art in the form of nonfungible tokens (NFTs).

The fund, dubbed Starry Night Capital, was founded by Three Arrows Capital’s CEO, Su Zhu, 3AC co-founder, Kyle Davies, and the pseudonymous NFT collector, Vincent Van Dough.

Van Dough announced the fund via an Aug. 31 tweet, stating: “Our thesis is simple, we believe the best way to gain exposure to the cultural paradigm shift being ushered in by NFTs is owning the top pieces from the most desired sets.”

Zhu shared the tweet, adding: “Excited to make history together.”

3AC is a digital asset-focussed fund manager that was founded in 2012. The firm has made investments in leading layer-one blockchains including Ethereum, Avalanche, and Polkadot, in addition to building an expansive DeFi portfolio including blueships Aave, Synthetix, and Balancer.

While details on the new fund’s roadmap are sparse at this stage, Van Dough revealed that Starry Night Capital hopes to launch a physical gallery “in a major city,” launch an NFT education portal, and explore other “community-building initiatives'' by the end of the year. He added:

“The NFT space is not a zero-sum game, it is driven by strong flywheel effects and functions best when the pie is growing for all.”

Zhu, Davies, and Van Dough appear to have already teamed up to purchase nonfungible art together.

On Aug. 27, NFT enthusiast “pixelpete” tweeted that he had sold his one-of-a-kind Art Blocks NFT of Dmitri Cherniak’s artwork, Goose Ringer, to Zhu and Davies in a transaction that Van Dough brokered. The NFT is from Cherniak’s collection, Ringers — each of which was generated algorithmically on the Ethereum blockchain.

The pair paid 1,800 Ether for the token (roughly $5.8 million). However, it is unclear if Starry Night Capital will take possession of the artwork.

Van Dough’s wallet on the OpenSea marketplace also shows an impressive collection of 1,913 NFTs, including work from renowned NFT artist Pplpleasr.

Related: Three Arrows Capital CEO Su Zhu outlines his bullish thesis for Dogecoin

The community reaction to the fund’s launch on Twitter was mostly positive, with names such as Ryan Wyatt, the head of gaming at Youtube and Bankless founder David Hoffman congratulating the team.

However, user “Edgar Dubroviskiy” questioned the idea of purchasing only the “top pieces” in the NFT space, highlighting the high expense and poor liquidity of premium NFTs.

Cryptopunks NFT Collection Joins Axie Infinity and Opensea by Hitting $1 Billion in Sales

Cryptopunks NFT Collection Joins Axie Infinity and Opensea by Hitting $1 Billion in SalesOn Saturday, August 28, the non-fungible token (NFT) project Cryptopunks crossed $1 billion in all-time sales. Cryptopunks joins the heavyweight NFT hitters Axie Infinity’s $1.6 billion and Opensea’s $3.53 billion. Three NFT Projects Have Sold More Than a Billion-Dollars in Sales The non-fungible token project Cryptopunks is now a billion-dollar NFT collection as statistics show […]