YouTuber lures MMA fighter to promote fake NFTs: Nifty Newsletter, 1-7 February
In this week’s newsletter, you can read about how Yuga Labs settled a lawsuit with one of the creators of a copycat nonfungible token (NFT) collection. Find out how the Bitcoin Ordinals creator fixed the first instance of porn uploaded to the protocol and how YouTuber Coffeezilla tricked MMA fighter Dillon Danis into promoting fake NFTs. In other news, Logan Paul and his team are facing a class action for allegedly carrying out a blanket move, and don’t forget this week’s Nifty News, with Mastercard’s former NFT head branding his resignation letter as an NFT.
Yuga Labs settles lawsuit with developer involved in copycat BAYCs
Yuga Labs – the team behind the popular Bored Ape Yacht Club (BAYC) NFT collection – settled a lawsuit with Thomas Lehman, one of the creators of a collection called RR/BAYC, which copies the original BAYC NFTs.
The NFT firm sued the developer in January for his role in the copycat project. In the settlement, Yuga Labs and Lehman agreed to a permanent injunction prohibiting Lehman from using images similar to BAYC.
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Bitcoin Ordinals creator looks for fix after first occurrence of shock porn
The creator of Bitcoin Ordinals, an NFT-like protocol that runs on the Bitcoin mainnet, had to look for a solution when a pornographic image was written into the blockchain on February 2. The image has been removed from the Ordinals website, but will forever live on the blockchain.
Speaking to Cointelegraph, Ordinals creator Casey Rodarmor said he acted quickly to remove the image from the site. However, Rodarmor said there is not much that can be done to prevent future cases due to the nature of the protocol.
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YouTuber lures MMA fighter into fake NFTs secretly for $1K
Crypto investigator Coffeezilla recently revealed that he tricked mixed martial artist and influencer Dillon Danis into promoting a fake NFT project without disclosing that he received payment for the ad.
In the ad, Danis tweeted a picture and a website address for the fake project. Despite many signs that the site is fake, the incident shows that Danis did not do any kind of checks before posting the ad.
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Logan Paul and CryptoZoo Sue as Investors Take Action
YouTuber Logan Paul and his NFT project CryptoZoo were hit with a class action lawsuit for allegedly pulling a rug and stealing millions of dollars. In a lawsuit, plaintiff Don Holland alleged that Paul and his team promised benefits to NFT holders, but then abandoned the project afterward.
The lawsuit was filed by attorneys from Ellzey & Associates and Attorney Tom and Associates, which is a firm run by YouTuber Attorney Tom.
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Nifty News: Bitcoin NFTs cause spicy fees, Mastercard exec tokenizes termination letter and more
Satvik Sethi, the former head of NFT at Mastercard, criticized the firm for poor management and inefficiency when he stepped down. Sethi also asked his followers for support, stamped the resignation letter as an NFT and put it up for sale.
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Thank you for reading this summary of the week’s most notable developments in the NFT space. Check back next Wednesday for more reports and insights into this area of active development.
