In June 2022, Yuga Labs Inc., the parent company of the Bored Ape Yacht Club non-fungible token collection, filed a federal lawsuit against artist Ryder Ripps, one of most vocal critics of the BAYC NFT project.

Ripps created his own NFT project around May 2022, which he called RR/BAYC, using online digital images from the BAYC NFT collection by generating new NFTs using URLs embedded in Bored Ape Yacht Club smart contracts.

Continue Reading Bored Apes, Hermès Suits Foreshadow What Is Coming in NFT Claims

Online non-fungible token (NFT) marketplace OpenSea recently collaborated with a popular decentralized autonomous organization (DAO), Friends with Benefits (FWB). As part of the project, OpenSea commissioned ten contemporary artists, who are members of the DAO, to create “phygital” (i.e., physical and digital) artworks that were featured on the marketplace’s homepage. The artworks were displayed both online and in real life at a FWB festival and conference in mid-August 2022.
Continue Reading NFT Marketplace and DAO Partnership Shows Power and Complexities of DAOs in the Art World