This week’s heated discussion (courtesy of Moonbirds) led to a variety of opinions on creative commons, licensing in general, and NFT projects. Meanwhile, Tiffany’s new pendants sold out quickly, Instagram continues to make a concerted push into the space, and there’s a textbook publisher looking to use NFTs to collect a share of secondary sales. We’re back on the block this weekend with a new one Nutshelllooking at all the NFT activity from last week’s run.
Let’s look at all the biggest stories of the past week.
This week’s irreplaceable news
CC0: The talk of the week
A hot topic across crypto Twitter and in the NFT corners this week was a move by Moonbirds, who moved the ownership rights model to cc0 or creative commons. In short, this effectively made Moonbirds public domain, removing the rights from the owners around their respective intellectual property. It is a movement founded by Moonbirds Kevin Rose believes “honors and respects the values of the internet and web3”.
This led to a variety of opinions on the matter as the project began to see a sell-out and subsequent backlash. Moonbirds creators of Proof Collective opened an investigation to collect opinions from community members after the announcement.
Tiffany Raises Over $12 Million In Minutes With Hanging Cryopunk
Priced at 30 ETH (about $50,000) each, Tiffany released a limited edition of CryptoPunk lockets this week, which sold out in about 20 minutes. A total of 250 ‘NTiff’ NFTs were released after Tiffany’s official announcement a week ago.
After selling the NFTs, Tiffany offered a pairing mechanism where CryptoPunk owners could link their NFT to their Punk and redeem their custom locket.
Meta will expand NFT support on Instagram to more than 100 countries
Meta has not shied away from crypto and NFT activity over the years, but few efforts have proven fruitful. The most recent product of promise regarding non-fungible tokens is Instagram, which is slowly integrating NFTs into features of the social media app. This week, the company announced initiatives to expand its ability to share digital collectibles across several new continents – more than 100 countries in total. Additionally, the Zuckerberg-led platform announced new connections to Coinbase Wallet and Dapper Wallet to come, as well as integration with the Flow blockchain – leading to a major hit for the FLOW token.
The move marks Meta’s latest efforts to engage with NFTs despite a rocky road to date.
Related reading | Elon Musk claims Twitter committed fraud in $44 billion antitrust deal
Polygon (MATIC) is the blockchain of choice for a new release from beverage behemoth Coca Cola. | Source: MATIC-USD on TradingView.com
Textbook Publisher Pearson Tracking Secondary Sales Through NFTs
Textbooks are notoriously a collective burden that is hard to escape. Although not always an option, many classes have used books as options, and to date, publishers have not aggressively sought a share of secondary sales – mainly because there has not been a low-risk option that does not require large investments. The non-exchangeable tokens, however, have apparently caught the eye of major textbook publisher Pearson.
The company is exploring NFT manuals, according to reports last week, but the end remains to be seen. Token textbooks would allow Pearson to collect a percentage of resale transactions, but the effects of textbooks on price (which really remains the crux of this debate) as a result are difficult to measure.
High priced NFTs.com domain orders
Step aside, ENS. It pays to have some Web3 in your Web2. That at least appears to be the case following the sale of ‘NFTs.com’ this week, as the domain sold for around $15 million – one of the largest public sector deals in history and certainly one of the largest (if not The greater) this year. The domain currently routes to a single page view.
Solana’s Magic Eden Marketplace to Accept Ethereum
There’s never a dull moment in Solana’s atmosphere, it seems. This week, Solana-based Magic Eden announced support for Ethereum – expected to launch later this month. Magic Eden was the far leader in Solana NFTs and now it will try to bite the dominant share of the Ethereum markets. Magic Eden joins a growing number of platforms, across a variety of blockchains, that see the future as multi-chain.
Related reading | Bitcoin is a “remarkable cryptographic achievement,” says former Google CEO
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The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.