NFTs are all the rage these days. NFTs, or non-fungible tokens, are a type of digital artwork that usually begins with some sort of media file. Some famous NFTs have sold for over a million dollars. But things can get extremely fast in the world of nfts, when a dispute arises between an artist and the creators of a project.
We start with Jane, we’ll call her an anonymous artist who has created a digital collection of 5,555 dogs. Originally, Jane approached a team known to manage NFT projects, but when a disagreement arose, she left the team. The original project was to be called Soldoggos.
After leaving the team, she decided to find another team and hired the experts from BSC Consultants to find a developer and commercialize her project while she was content to collect a royalty. She approached the team and a new NFT project called Bad A ** Doggos was born.
Bad A ** Doggos was officially launched on September 26, 2020 with ambitious plans, including a billboard in Times Square. But that’s when things started to get risky. The team that originally worked with Jane had their own plans to release the project on their own.
“I have invested over $ 20,000 in this project and I feel like it is being stolen from me,” said John, the developer of the project, “usually the artwork belongs to the artist and not the first project he works with. even take into account our launch a week in advance ”.
When I was asked for a comment via Soldoggos’s Discord channel, I was quickly banned. But the question remains who owns the artwork? According to BSC Consultants, this is a risky area.
“You basically have two projects left with the same files,” said a representative from BSC Consultants, “When this happens they are usually also in different countries, so intellectual property laws become unenforceable. . However, in a situation like this, the general consensus within the NFT community is that the official project comes first. “
It’s an interesting debacle in a very interesting world. But it gets even more interesting when you look at the Soldoggos website. Using web archives, you can go back to the first version of the website. There you can see that the artist and name links have been changed.
As of this writing, Bad A ** Doggos has currently sold almost ten percent of all available nft. Soldoggos intends to launch on October 3 but burn all unsold NFTs after 24 hours. It will be interesting to see how this plays out as it will be a test of what happens when an artist leaves one team and joins another? As for John, he said he intends to keep moving forward and move forward as planned.
(The above story first appeared on LatestLY on October 1, 2021 at 3:26 p.m. IST. For more information and updates on Politics, World, Sports, Entertainment, and Lifestyle , connect to our website Latestly.com).