Connect with us

NFT

Infosec pioneers are angered by a messy NFT drop

An unauthorized NFT drop to celebrate infosec pioneers has fallen into chaos with conflicting takedowns, piracy and confusion.

Released on Christmas Day by a group called “ItsBlockchain,” the “Cipher Punks” NFT package included portraits of 46 distinct figures, with ten copies of each token. Taken at their opening price, the full value of the drop was roughly $4,000. However, almost immediately the infosec community raised objections to the drop — some even from portrait subjects.

The portrait images missedpell several names, including Jon Callas, OpenPGP creator and Jillian York, an EFF speech activist. At least one drawing was based on a copyright protected photograph. The list also included some people who were ostracized because of their harmful personal behavior. Jacob Appelbaum , and Richard Stallman .

Responding on Twitter, York tweeted a link to her own portrait and said simply, “I don’t approve of this whatsoever and would like it removed.”

Tuesday morning, the ItsBlockchain team announced in a Medium post that it would be “shutting down” the collection in response to the backlash, offering full refunds to any purchasers and covering any gas fees involved in the transfer.

“We didn’t know about the likeness laws in NFTs because the market isn’t regulated,” the post states. It was our error. We must admit it

OpenSea seems to have taken the central decision to delete the collection, no more visible from the platform.

The incident is a reminder of the potentially thorny legal issues around NFTs, where norms of permissionless innovation often clash with likeness rights and intellectual property law. The US law regarding publicity rights states that an individual’s name or identity cannot be used to promote their products without their consent. However, it is unclear how this lawsuit would work when applied to NFTs.

Update 12/28 11: 07AM ET: Included Cipher Punk’s Medium post shutting down the collection and OpenSea’s decision to remove the tokens.

Read More

NFT

Report: SEC Concludes Opensea Probe, Drops Enforcement Threat Over NFTs

The U.S. Securities and Exchange Commission (SEC) has reportedly ended its investigation into Opensea and will not pursue enforcement action against the non-fungible token (NFT) marketplace over allegations that its NFTs constituted unregistered securities, the company confirmed to Bloomberg this week. Following Coinbase, SEC Ends OpenSea Investigation Under Trump’s Regulatory Climate Opensea…
Read More

Continue Reading

NFT

A Beginner’s Guide to Crypto AI Agents

First, it was Bitcoin. Then defi. Then NFTs. Now, AI is taking the crypto world by storm, unlocking new possibilities (and new riches). If you’re not paying attention, you’re about to miss one of the most explosive narratives of the cycle. This piece is a guest post by Blocmates…
Read More

Continue Reading

NFT

NFT Market Stumbles in January: Sales Drop 39% in Rocky Opening to 2025

Based on data gathered from Jan. 1 through Jan. 31, 2025, non-fungible token sales (NFT) experienced a 38.97% decline compared with the final month of 2024. Ethereum led in sales by amassing $340.47 million, although transactions on that particular chain registered a 36.58% decrease from the previous month…
Read More

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.