A Bored Ape Lawsuit Won’t Set the NFT Precedent Seth Green Wants

The first thing you should probably do if you find yourself in Seth Green’s position is not tweet about how much you’re “looking forward to precedent setting debates on IP ownership & exploitation.”

Green, an actor best known for his pouty portrayal of archvillain Dr. Evil’s disappointing son in the Austin Powers franchise, has become the butt of crypto’s latest bad joke. Earlier this month, Green lost his prized Bored Ape when he fell for a scam and made himself vulnerable to thieves by interacting with a clone of another NFT project’s website. Clone sites can be virtually indistinguishable from the originals, often with only a letter or two missing from their domain names. Green is not the first to lose an NFT this way, and he won’t be the last. Hacking and good old-fashioned con artistry are endemic in the magical world of Gutter Cats and Happy Hippos.

What makes Green unique is that he had a lot more riding on his Ape than most members [...]  read more

The Future of NFTs Lies With the Courts

SuperFarm touted the sale as “a groundbreaking landmark—both for the crypto space and the broader music industry.” The newly minted NFT of Jay-Z’s debut album Reasonable Doubt would, it said, “provide ownership of the album’s copyright, transferring the rights to all future revenue generated by the album from Damon Dash to the auction winner.”

The catch? Dash did not actually own the copyright to Reasonable Doubt (not that selling it as a non-fungible token would necessarily have worked if he did). Now he is the defendant in a federal lawsuit brought by the hip hop label Roc-A-Fella records. 

This case, filed in June 2021, was one of the first involving NFTs to hit the dockets. In another case filed a few months later, Playboy Enterprises sued the operators of a counterfeit website designed to mimic the site Playboy created to sell its “Rabbitar” NFTs. According to Playboy, the scam worked—over a thousand people mistook the fake website for the [...]  read more

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