Creative Commons: New FAQ on NFTs and CC0

Creative Commons: New FAQ on NFTs and CC0. “To help clarify how NFTs are already leveraging CC legal tools, we have added a new section to our FAQ on using CC licenses and the CC0 public domain dedication with NFTs. This FAQ is intended to provide basic guidance for those who are already using NFTs and want to know how to use CC licenses and legal tools with NFT projects. We will continue to update our FAQ as our understanding and interpretation develops.”

Wall Street Journal: Islamic State Turns to NFTs to Spread Terror Message

Wall Street Journal: Islamic State Turns to NFTs to Spread Terror Message. “A simple digital card praising Islamist militants for an attack on a Taliban position in Afghanistan last month is the first known nonfungible token created and disseminated by a terrorist sympathizer, according to former senior U.S. intelligence officials. It is a sign that Islamic State and other terror groups may be preparing to use the emerging financial technology to sidestep Western efforts to eradicate their online fundraising and messaging, they said.”

Fortune: Trading volume on top NFT marketplace OpenSea down 99% since May

Fortune: Trading volume on top NFT marketplace OpenSea down 99% since May. “What was once a red-hot market fueled by FOMO during the crypto bull market of 2021 is now just a trickle, with trading volume on the most popular NFT marketplace, OpenSea, down 99% in just under four months. On May 1, OpenSea processed a record $2.7 billion in NFT transactions, but on Sunday the marketplace recorded just $9.34 million worth, according to data compiled by DappRadar.”

Wall Street Journal: NFTs Are Increasingly Targeted by Criminals, Report Says

Wall Street Journal: NFTs Are Increasingly Targeted by Criminals, Report Says. “Nonfungible tokens, or NFTs, are increasingly sought by criminals looking to either steal them or use them to launder illicit gains, a new report from blockchain analytics firm Elliptic said on Wednesday. More than $100 million worth of these blockchain-based assets were reported stolen in scams over the past year, according to the study. Over 4,600 NFTs were stolen in July, the most in any month since Elliptic began tracking the data in 2017, the report said.”

Ars Technica: Indie devs outraged by unlicensed game sales on GameStop’s NFT market [Updated]

Ars Technica: Indie devs outraged by unlicensed game sales on GameStop’s NFT market [Updated]. “In the first week of GameStop’s recently launched NFT marketplace, the NiFTy Arcade collection stood out from the pack. Instead of offering basic JPEGs, the collection provided ‘interactive NFTs’ linked to HTML5 games that were fully playable from an owner’s crypto wallet (or from the GameStop Marketplace page itself). There was only one problem: Many of those NFT games were being minted and sold without their creators’ permission, much less any arrangement for the creators to share in any crypto profits.”

CNET: How An NFT Trader Lost $150K Trying to Troll Twitter Bots

CNET: How An NFT Trader Lost $150K Trying to Troll Twitter Bots. “Scams and frauds are ubiquitous in crypto, but sometimes the biggest losses are those people inflict upon themselves. On Wednesday, one NFT trader suffered a spectacular loss of 100 ether, or $150,000, because of a joke gone wrong.” It was a silly thing for them to do, but much respect to this person for 100% owning it.

The Verge: Why social networks won’t stop pushing NFTs

The Verge: Why social networks won’t stop pushing NFTs. “Reddit is only the latest social network to offer users a way to set an NFT as their profile picture. Last week, Facebook began allowing some creators to showcase NFTs that they own on a new ‘digital collectibles’ tab in their profile. The move came a month after Instagram added a way for creators to show off their NFTs. Spotify began letting some artists uses NFTs as their profile pictures in May. What makes these moves notable is that they came just as demand for NFTs and crypto products generally fell off a cliff.”

Slate: Crypto Town

Slate: Crypto Town. “… Miami isn’t alone in trying to bring some laser-eyed panache to the typically vanilla work of local governance. A wave of smaller cities has begun to accept cryptocurrencies for payments, create their own NFT projects, and even install crypto mining operations. Their efforts, if anything, display an openness to technological innovation in cities of various locales and political contexts. What they don’t show is whether this particular innovation is able to accomplish much of anything at all.”

US Department of Justice: Justice Department Announces Enforcement Action Charging Six Individuals with Cryptocurrency Fraud Offenses in Cases Involving Over $100 Million in Intended Losses

US Department of Justice: Justice Department Announces Enforcement Action Charging Six Individuals with Cryptocurrency Fraud Offenses in Cases Involving Over $100 Million in Intended Losses. “The Department of Justice, together with federal law enforcement partners, today announced criminal charges against six defendants in four separate cases for their alleged involvement in cryptocurrency-related fraud, including the largest known Non-Fungible Token (NFT) scheme charged to date, a fraudulent investment fund that purportedly traded on cryptocurrency exchanges, a global Ponzi scheme involving the sale of unregistered crypto securities, and a fraudulent initial coin offering.”

CNET: The World’s Biggest NFT Festival vs. the Crypto Crash of 2022

CNET: The World’s Biggest NFT Festival vs. the Crypto Crash of 2022. “This year’s convention, the fourth ever, took place from June 21 to 23, amid the biggest crypto market crash in years. It’s a crucial time for the burgeoning industry, and not just because of crypto’s collapse. We’re in the gestation period of NFTs evolving from blockchain oddities to real-life entertainment brands. Events like NFT.NYC give ‘Web3’ teams a chance to prove that NFT culture can produce more than scams and that legitimate companies creating real products can be built in this space.” Or not.

Bleeping Computer: OpenSea discloses data breach, warns users of phishing attacks

Bleeping Computer: OpenSea discloses data breach, warns users of phishing attacks. “OpenSea, the largest non-fungible token (NFT) marketplace, disclosed a data breach on Wednesday and warned users of phishing attacks that could target them in the coming days. The online NFT marketplace says it has more than 600,000 users and a transaction volume that surpassed $20 billion.”

New York Times: Challenges of the Future Confront the Art World

New York Times: Challenges of the Future Confront the Art World. “Should the British Museum return the ancient sculptures known as the Parthenon Marbles to Greece? Is the art world contributing to global warming? Is the hot market for digital art known as NFTs over? These are among the most vexing challenges facing the art world today, especially the question of how — or even whether — to return what many view as plundered art, like the Parthenon Marbles, to their rightful owners.”