
Hello everyone! Today I want to share some thoughts on monetization in the world of NFT cryptocurrency trading. π
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What are CryptoPunks? In a nutshell, CryptoPunks is a collection of 10,000 non-fungible tokens or βNFTsβ on the Ethereum blockchain, which was created in June 2017 by Matt Hall and John Watkinson of Larva Labs LLC. And it was a game changer. Arguably the first βtrueβ NFT collection, CryptoPunks helped inspire not only the creation of the term NFT, but also the ERC-721 1 Spears-Gilbert Professor of Law, University of Kentucky College of Law. Thanks to JuliusCrypto, Tyler T. Ochoa, and Guy A. Rub for their helpful comments and suggestions.
r: Itβs unclear, and that might be a problem for Larva Labs, but might also be an opportunity. Larva Labsβs CryptoPunks NFTs are iconic. Created in 2017, they were among the first NFTs on the Ethereum blockchain. Four years later, they are among the most valuable, selling for anywhere from $200,000 to millions of dollars. The CryptoPunks collection consists of 10,000 NFTs, each of which is associated with a unique CryptoPunks image. Everyone knows who owns each CryptoPunks NFT. The Ethereum blockchain provides indelible proof. But people disagree about who owns - and who should own - the copyright in the CryptoPunks images. Most CryptoPunks NFT owners believe they should own the copyright in the image associated with their NFT, or at least have the right to use it. Larva Labs believes it owns the copyright in all of the images, and entered a licensing deal with United Talent Agency based on its ownership of the CryptoPunks brand and copyrights.
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