⚓️ don't call it a comeback
gm. how are you all doing? I’m fine fwiw.
narrator: he was not fine.
I wrote a little about Seth Green losing his Bored Ape on Thursday last week. I felt bad for him at the time but I didn’t realize how gutting the loss was until yesterday.
it turns out that not only did he lose assets valued at over $200K, but he also lost the most important part of his upcoming new series.
yes, he’s been developing an entire TV show around his Bored Ape because of the exclusive IP rights he has for owning said Ape…wait.
because IP moves with the token per Yuga Labs, the IP of the Bored Ape used for the show *technically* doesn’t belong to Seth anymore. enter some lawyers and a lot of cope.
from the sounds of it, since he can make a legitimate claim that this was theft, he’ll likely still be able to move forward with the show. however, it’s a new wrinkle to an already complicated issue.
as we enter the new Web3 world, issues like this will become more commonplace. I’m not a lawyer, but if I was, I would certainly be punching up on the nuances of NFTs and IP law. no doubt knowing about this ecosystem and how it works in a legal sense will be a HUGE asset in the next few years.
c’mon…the celebrities are counting on you!
what’s wrong with the cats? whatever it may be, it sure is hard to stay cool these days.
if you ask around it seems like the OG “cute” project is in trouble. the floor is falling and people are disappointed in the team’s execution despite their headstart. but from my little Twitter echo chamber, the vibes seem to be back with the Cool Cats community.
so which is it?
let’s be clear, I’ve built a lot of my Web3 persona around Cool Cats. I wouldn’t be surprised if most of this newsletter’s subscribers are Cool Cats (or former Cool Cats owners) themselves. this won’t exactly be an objective take on the project; they’ve always supported me and it’s full of some of the most positive people in the space.
that being said, toxic positivity is still toxic. we can acknowledge their mistakes and gaps without it being “FUD”. I keep trying to look at the project from an outsider’s perspective. what are the red flags? am I on a sinking ship and just don’t know it?
if we could predict that of course, we’d all be NFT millionaires.
all we can do really is trust our guts. my gut is telling me the Cool Cats are still just getting started; I can’t abandon them now.
and I certainly hope they have a great comeback story (like Kim Kardashian), but you can’t discount the public sentiment. once the stink is on you, it can be hard to get it off of you…especially in the NFT space.
celebrity or whale, the scammers can still get you. a big wallet of Moonbirds was compromised last night and immediately lifted. always be diligent, don’t click links, and realize that this could be you too (with less value taken).
this confirms that selling my real house to buy land in the Otherside was the right decision!
here’s a good post I read yesterday by @NFT_GOD. I’ll start sharing more interesting reads I find in the NFT community in the newsletter. I gotta support fellow writers. feel free to send any you find over to me too! :)RTFKT and @Nike are building what will become the largest NFT ecosystem in web 3. Their total addressable market is unparalleled and they have the opportunity to onboard more users to NFT's than anyone else. Here is exactly how @RTFKT is doing it:nftgod.givesRTFKT Will Become The Largest NFT Ecosystem Ever (Including Yuga Labs)RTFKT and Nike has by the largest total addressable market in NFT’s and it isn’t even remotely close.