In this week’s newsletter, read about how Yuga Labs settled a lawsuit with one of the creators of a non-fungible token (NFT) pool. Learn how the creator of Bitcoin Ordinals 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 lawsuit for allegedly carrying out a rug haul, and don’t forget this week’s Nifty News, which shows Mastercard’s former NFT leader hijacking his resignation letter as an NFT.
Yuga Labs is settling a lawsuit with a developer involved in counterfeit BAYCs
Yuga Labs — the team behind the popular Bored Ape Yacht Club (BAYC) NFT pool — has settled a lawsuit with Thomas Lehman, one of the creators of a pool called RR/BAYC, which copies original BAYC NFTs.
The developer was sued by the NFT company in January for its role in the imitation project. In the settlement, Yuga Labs and Lehman agreed to a permanent injunction preventing Lehman from using images similar to BAYC.
Bitcoin Ordinals creator is looking for a fix after first instance of porn shock
The creator of Bitcoin Ordinals, an NFT-like protocol running on the main Bitcoin network, had to look for a fix when a pornographic image was inserted into the blockchain on February 2. live on the blockchain.
Speaking with Cointelegraph, The Ordinals creator Casey Rodarmor said he acted quickly to remove the image from the site. However, Rudarmore said there is not much that can be done to prevent future cases due to the nature of the protocol.
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MMA fighter YouTuber secretly shilling fake NFTs for $1,000
Crypto investigator Coffeezilla recently revealed that it tricked mixed martial artist and influencer Dillon Danes into promoting a fake NFT project without revealing that he had been paid for the advertisement.
In the ad, Dannis tweeted a photo and URL of the fictitious project’s website. Despite many signs that the site is fake, the incident shows that Dannis did not perform any kind of verification before posting the ad.
Logan Paul and CryptoZoo have been hit with a lawsuit while investors take action
YouTuber Logan Paul and his NFT venture CryptoZoo have been hit with a class-action lawsuit for allegedly carrying out a carpet haul 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.
The lawsuit was filed by attorneys from Elllzey & Associates and attorney Tom and Associates, a company run by attorney Tom on YouTube.
Nifty News: Bitcoin NFTs Cause Exorbitant Fees, Mastercard Exec Marks Up Resignation Letter, and More
Mastercard’s former NFT lead, Satvik Sethi, criticized the company for mismanagement and incompetence after he stepped down from his position. Sethi also asked his followers for support, minted his resignation letter as an NFT and put it up for sale.