NFTs in brief: a weekly review
Q2 wraps up with NFT.NYC, another week filled with headlines (and talk) from Yuga Labs and BAYC, and eBay continues its active push into the space – this time with a new acquisition. Meanwhile, one of your favorite candy brands is getting sweet, and there are more updates from the latest developments in Quentin Tarantino’s legal battle over his latest non-fungible token release.
We’re back with our usual recap to digest all the NFT stuff from the past week.
This Week’s Non-Fungible Token News
Bored Ape Yacht Club on New Eminem and Snoop Dogg Music Video
The Bored Ape Yacht Club crew brought in all sorts of musical artists – such as LCD Soundsystem and Lil Baby – as part of their ApeFest 2022 screening, which many in the community are touting as an early demonstration of the utility of the blue chip; however, that was the tip of the iceberg as far as this week goes for BAYC. They rounded out ApeFest with a Bored Ape music video courtesy of Snoop Dogg and Eminem.
Meanwhile, the BAYC team faces the need to respond to growing allegations of Nazi ties, including taking legal action against critic Ryder Ripps, who posted an amplified video criticizing the NFT Project and later launched his own imitation project.
NFT.NYC: Improved, but still room to grow
Speaking of Snoop Dogg, NFT.NYC has been host to some great experiences, some interesting impersonators (I’m looking at you, Doop Snogg), plenty of networking opportunities, and a fair amount of cringe too. We can stay honest. Goblins went a little overboard with IRL goblin noises, the Invisible Friends pop-up got mocked at times, and The Hundreds did a great show of fake NFT protesters.
All in all, it was apparently a step in the right direction after last year’s experience – and a much stronger and more present community this time around too. We’ve taken some time to cover the good, the bad and the ugly of this year’s NFT.NYC.
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Uniswap has seen strong token performance this week following the acquisition of NFT aggregator Genie, and potentially a broader market slowdown of bear market effects. | Source: UNI-USD on TradingView.com
Mars Inc., a longtime candy juggernaut and maker of chocolate M&Ms, is the latest brand in the steady stream of “filing reports” of new trademark applications on the web3. According to reports this week, Mars filed crypto, NFT and Metaverse-related trademark applications for the M&Ms brand, which includes “online virtual store environments” and “virtual snacks” for the Metaverse.
Tarantino’s Legal Battle: Latest Update
November of last year feels like the “simple times” of crypto. So little time has really passed, but things certainly look different. Look no further than the curious case of crypto and Quentin Tarantino for a great example: last year we covered the emergence of Tarantino’s “Pulp Fiction” NFTs, and at the start of the new year we started to briefly cover the ongoing debates between Miramax and Tarantino.
Well, the court system in the United States can be notoriously slow, but we saw developments this week as Hollywood Reporter described an “early victory” for the legendary director, but there’s still a precedent to be set based on the way things are going. As the reporter aptly notes, it might shake somewhere in the middle, including NFTs around the use of split rights with “Miramax as far as the movie and Tarantino as far as the script.”
New acquisitions: eBay & KnownOrigin, Uniswap Snags Genie
In difficult times, there can be consolidation. Regardless of the reasoning, we’ve seen some interesting acquisitions this week, some more centralized than others. Let’s take a look at some of the headlines to see the movement this week:
- eBay acquires KnownOrigin: eBay has expressed a desire to be a digital marketplace hub, a forward-thinking player in a new era of collection, and has doubled this week with the NFT Marketplace takeover KnownOrigin. The market was relatively small but showed tenacity as a forerunner in the space.
- Uniswap Labs acquires Genie: Meanwhile, in more structured DeFi organizations, leading dex Uniswap Labs nabbed market aggregator NFT Genie during the week as the platform seeks to integrate NFTs into APIs and widgets.
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Featured image from Pexels, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.