Yuga Labs Advances for 5% Royalty on the Trades of Meebits
Yuga Labs, after purchasing the rights over Meebits and CryptoPunks from Larva Labs in recent March as well as appointing Noah Davis (who previously served at Christie’s) to organize the Punks trademark, is moving toward the monetization of its purchase.
The platform, on 28th July this year, declared to instantly begin gathering 5% royalty over the entirety of Meetbits’ secondary sales. After the respective step, the present status of CryptoPunks is that of the only prominent collections of non-fungible tokens (NFTs) with charging no royalties over the secondary sales, although probably not for an extended period.
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$65 Million Collected by Unstoppable Domains
Unstoppable Domains (a web3-based identity venture) has collected up to $65 million in a funding round of Series A. Pantera Capital was leading the respective funding round and the value of the firm has touched $1 billion. Just like the ENS domains, the consumers are permitted by Unstoppable to buy domain names (that are based on NFTs) for blockchain-based wallets. As per the website, the registration of up to 2.4 million domains has been carried out via the venue.
On 21st July, RTFKT – an NFT studio backed by Nike at the back of the well-known CloneX series – issued a series of 8,888 non-fungible tokens that the users could redeem for physical attire. The hoodies could be forged by the NFT holders between 21st and 25th July, and NFC chips will be contained by the physical apparel to connect them to their NFT counterparts. Furthermore, on 28th July, RTFKT released the teaser of the impending forging occasion for the holders of Clone X.
OpenSea Charts Witness Potatoz at the Top
9gag (an online social media platform well-known for memes) is making a strategy to enter the Web3 space with its Metaverse project named “Memeland” with its native token “$MEME.” Potatoz is considered to be a series of up to 9,999 “utility-enabled” non-fungible tokens issued to be a free mint on 21st July. The function of access passes is expected to be served by these NFTs to the Memeland drops in the future.
Potatoz has collected nearly 6,400 ETH (approximately $10.8M) in OpenSea-based secondary sales, getting the top position this week. The NFT venture Yuga Labs has been reportedly accused of using celebrity endorsements and boosters to enhance the NFTs and its local token’s price, as Scott+Scott (a law firm) mentioned. Furthermore, as per the formal website of Scott+Scott, the platform is searching for the investors who underwent losses in the NFTs and tokens of Yuga Labs from April to June this year.
