Physical Cryptopunk, Mercedes NFTs and Yuga Labs win ‘copycat’ lawsuit: Nifty Newsletter
Welcome to the latest edition of Cointelegraph's Nifty Newsletter. Keep reading for updated stories on intangible tokens. Every Wednesday, the Nifty Newsletter will keep you informed and encourage you to delve deeper into the latest NFT trends and insights.
Read how CryptoPunks nonfungible token (NFTs) were given 48 hours of physical NFTs in this week's newsletter. Find out why some artists were ordered to pay Yuga Labs $1.6 million in copyright lawsuits and why major German companies like Mercedes and Lufthansa use NFTs. In other news, Mintable's CEO says the UK is at risk of misregulating NFTs.
Holders of CryptoPunks offer physical versions of their NFTs for 48 hours.
Owners of CryptoPunks NFTs have been given the opportunity to receive physical prints of their digital artwork through a partnership between online art store Avant Arte and Yuga Labs, owner of the CryptoPunks brand.
The sale lasted only 48 hours and two physical versions of CryptoPunks were offered. The first one called “Punk-On-Chain” is only for Punks owners, and the second one is called “10,000 On-Chain”, which is open to anyone with all 10,000 CryptoPunks print collection.
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How major German companies like Mercedes and Lufthansa are using NFTs.
Despite the continuous decline in the NFT market, many German companies have incorporated NFTs into their business strategy. The German postal service will release the first limited-edition collectible stamp combining NFTs and artificial intelligence on November 2, 2023.
German automotive company Mercedez-Benz launched its third NFT collection, The Era of Luxury, in September. His digital collections are meant to be digital interpretations of designs that have appeared throughout his seven design seasons.
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Ryder Ripps ordered Yuga Labs to pay $1.6 million in copyright lawsuits
NFT artists Ryder Ripps and Jeremy Cahen have been ordered by a United States District Court judge to pay Bored Ape Yacht Club creator Yuga Labs $1.57 million in disgorgement and damages, plus legal fees.
Yuga Labs claims Rips and Cahen violated copyright laws by creating copies of Board Up Yacht Club's NFT collectors.
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The UK is at risk of misregulating NFTs, says Mintable CEO.
Zack Burke, CEO of NFT platform Mintable, told Cointelegraph in an interview that he believes the UK government is at risk of regulating NFTs in a way that distorts the technology.
A recent UK parliamentary report overstated the role of NFTs in copyright infringement and said that they do not realize their value beyond being volatile digital images.
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Thanks for reading this roundup of the week's most notable developments in the NFT space. Come back next Wednesday for more reports and insights into this actively growing space.
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