In a recent development, founders of nonfungible tokens (NFTs) have started offering company equity to their holders. Pons Asinorum, the founder of “The Plague” NFT collection, announced during the holiday season that their holders would receive a percentage of their company shares. Following this, Ovie Faruq, also known as OSF in the NFT space, made a similar announcement on Jan. 1 for holders of the Rektguy NFT collection. Despite seeming like a legal risk, Pons believes the move is legal as it was completely unexpected and clarified that it was a gift.
Internet celebrity Logan Paul has announced a buyback program for the disgruntled holders of CryptoZoo NFTs. He is personally committing $2.3 million to repurchase the NFTs at their original purchase price. This announcement came a year after Paul promised to refund the investors of the NFT project. The refund is for every person who intended to play the never-released play-to-earn game. Various community voices have called out to the influencer to complete his promise.
Following Paul’s announcement, some community members celebrated the win, while others warned about Paul’s potential “ulterior motives.” Crypto content creator Mason Versluis commented that mainstream celebrities can’t “play around” in the Web3 space without accountability. YouTube investigator Coffeezilla posted that Paul is “being crushed in a lawsuit” and is trying to “save his own skin” by doing the buyback program. The terms and conditions on the buyback claims website state that participants are waiving their rights to sue Paul and CryptoZoo.
Executives in the NFT space have urged creators to consider what types of NFTs should be hosted on the blockchain and which should be placed off-chain. Witek Radomski, co-founder of Atlas Development (Enjin), suggested that creators should decide which NFTs deserve the “vault treatment,” meaning being stored on-chain, and which can live on the cloud. He also presented a hybrid option, like using platforms like the InterPlanetary File System, which is designed for storage.
In a bid to raise the technical bar for Bitcoin Ordinals projects, developers at Ninjalerts inscribed the Super Nintendo Entertainment System (SNES) emulator on the Bitcoin blockchain. This allows the community to play classic games on the network. Ninjalerts CEO Trevor Owens explained that Bitcoin is the best place to preserve the cultural “digital artifacts” for future generations, citing a study that says 90% of classic video games are endangered.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Global |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | Logan Paul, Pons Asinorum, Ovie Faruq, Mason Versluis, Trevor Owens |
| Companies | Pons Asinorum, CryptoZoo, InterPlanetary File System, Atlas Development (Enjin), Ninjalerts |
| Currencies | Bitcoin |
| Securities | None |
