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Raoul Pal, the CEO of Real Vision, compared high-end homes and vehicles to popular NFTs from collections like CryptoPunks and BAYC.
Announcing the introduction of creator smart contracts for artists on its platform, eBay’s NFT marketplace KnownOrigin. The new agreement enables artists to share profits and collect royalties as co-creators. Users have tried the functionality recently, according to the NFT platform.
eBay purchased the KnownOrigin NFT platform in June 2022. The co-founder of the platform, David Moore, stated that KnownOrigin intends to assist NFT inventors and collectors even if the funding amount was not disclosed.
OpenSea, an NFT marketplace, has made a fresh attempt to reclaim subscribers from Blur, a rival that recently outpaced it in terms of daily Ether trading volume on February 18, per data from analytics platform Nansen.
To increase user engagement, the platform announced three significant adjustments on the same day, including temporarily cutting the OpenSea charge to 0% and switching to optional creator profits.
The popular Bored Ape Yacht Club (BAYC) NFT collection was created by Yuga Labs, which has been charged with IP theft for using the wolf skull emblem. An NFT artist noted in a tweet that the skull created for the Bored Ape Kennel Club was originally created by Easy Drawing Guidelines.
Yuga Labs did not have permission to use the drawing, the business replied to the uproar on Twitter. The company added that the drawing is protected under their terms and conditions and that they own the intellectual property rights to it.
Raoul Pal, the CEO of Real Vision, shared his opinions on the potential for NFTs to develop into “high-end property” during periods of cryptocurrency market boom on YouTube on February 20. Pal claims that as the economy improves, this particular property type outperforms the market.
The CEO also emphasized how well-known collections like CryptoPunks and BAYC are viewed as status symbols in the cryptocurrency industry and are comparable to having expensive homes and vehicles.
In return for a Bitcoin wizard meme on Bitcoin’s NFT-like site, Ordinals, an NFT artist won 6 Bitcoin, which were valued at around $150,000 at the time. In the meanwhile, a former Amazon executive created a platform for reviewing NFTs that is comparable to the well-known review website Yelp.
