eBay’s KnownOrigin Launches Creator Smart Contracts

This week, eBay’s NFT marketplace KnownOrigin rolled out a shiny new feature—creator smart contracts. Think of it as a financial buffet for artists: now they can share their profits like a well-sliced pie and earn royalties as co-creators. Talk about teamwork, right? KnownOrigin, which eBay snagged in June 2022, has been sharing the love with NFT creators and collectors alike, making waves in the creator community.

OpenSea vs. Blur: The Fee Wars Begin

In the battle for NFT supremacy, OpenSea decided to pull a game-changer: they announced a thrilling 0% fee structure to woo back users swayed by competitor Blur. Just like a dramatic romance novel, OpenSea is laying it all on the line to recapture its audience after Blur seized the spotlight in trading volume. We all love a good underdog story, don’t we? Three major shifts have come from OpenSea, including optional creator earnings that are bound to amplify the stakes.

Yuga Labs Faces IP Theft Allegations

In a twist worthy of a courtroom drama, Yuga Labs, the brains behind the infamous Bored Ape Yacht Club (BAYC), has been accused of intellectual property theft over its wolf skull logo. An NFT artist raised concerns on Twitter, claiming Yuga violated the rights of Easy Drawing Guides, the original creator of the skull design. Yuga Labs swiftly responded, declaring that no license was ever granted to use the drawing, and asserted the validity of their IP rights. Drama in the NFT world? Count us in!

NFTs as High-End Properties: A New Status Symbol?

In a recent live chat on YouTube, Real Vision CEO Raoul Pal expressed a bold forecast: NFTs are poised to become the luxurious properties of the crypto boom cycles. Just like fine wine or luxury watches, collections like CryptoPunks and BAYC could elevate their owners’ social status, making them the ultimate crypto collectibles. As the economic tide rises, will these digital assets become the new luxury cars and designer handbags?

Nifty News: A Week of Big Wins and Surprising Moves

This week in Nifty News, an NFT artist dazzled us all by securing 6 Bitcoin (BTC)—roughly $150,000—for a meme about wizards on Bitcoin’s Ordinals platform. Also, a visionary ex-Amazon executive has launched a platform to review NFTs, aiming to become the Yelp for digital art. Mind blown, right? Seems like even in the wild world of NFTs, no idea is too quirky to cash in on!