gm. happy national hangover day (for those in the US).
I lost a lot of brain cells yesterday, so please bear with me as cover the NFT news you might have missed over the July 4th weekend.
ALPHA ⚓️
never bet against the Swoosh.
RTFKT (now owned by Nike) made their biggest splash yet by announcing on Monday that their CloneX collection would now include full commercial rights for the holder and token-gated files of their CloneX’s 3D avatar.
one of the biggest criticisms of CloneX was how strict and Web2 they were with their licensing rights. before, the tokens were controlled solely by Nike and RTFKT. that has now suddenly changed, and they’ve overnight provided some pretty cool utility to their users.
as it goes, most won’t know the first thing to do with the 3D files, but for those who do, they are getting the commercial rights to a Nike product. yes, owning an NFT can now get you access to one of the most famous brands of all time.
not bad, if you ask me.
BETA ⚓️
speaking of CloneX, a tweet went viral this weekend showcasing a frustrating OpenSea practice. piggybacking off OpenSea’s accidentally delisting of Bored Apes and leaking our emails, we have decided to keep hatin’ on OS.
for those unaware, an NFT that has been ‘flagged for suspicious activity’ is essentially bricked; it cannot be listed or sold on the OS marketplace.
this happened to me one time, and it was a huge pain to figure things out. ultimately, you have to either swap the NFT in a liquidity pool, or use OpenSea’s slow customer service to get the flag lifted.
unfortunately, “flagging” it does nothing but kill most (if not all) of the value of the NFT. as OpenSea continues to be the largest marketplace by far, not being able to sell on there is a huge setback for the buyer.
(even worse, there is no justice, as the scammer has already made out with the ETH and the scammed doesn’t get their NFT back).
it’s really just a way for OpenSea to legally protect themselves, and for that reason, I don’t see this practice getting fixed anytime soon.
Friday I will write more about my experience with everything and how to check your token to make sure this doesn’t happen to you.
DELTA ⚓️
moon ravens? a patent has been filed and Kevin Rose (founder of Proof and Moonbirds) has teased that they’ll be releasing a revamped website soon…
there was a 300 ETH ENS sale this weekend, which is now the second highest ENS sale ever usurping porno.eth from last week. ENS is having a moment right now, and I’ll be covering it tomorrow. see you then!
