Top French museum will exhibit NFTs

by Feb 16, 2023CryptoNews, NFTS Metaverse0 comments

France’s best modern art museum will display NFTs from Autoglyphs and CryptoPunks collections.

Read about the exhibition of nonfungible tokens at France’s premier contemporary art institution in this week’s NFT news collection. (Click)

Find out why RR/BAYC, the creator of the Bored Ape Yacht Club (BAYC) ripoff project, is challenging Yuga Labs’ trademark registrations. (Click)

See how Ethereum-based NFTs lost 60% of their market value and how Bitcoin NFTs led to an increase in non-zero addresses. (Click)

Remember this week’s Nifty News, which details the establishment of Parisland, a dating metaverse by American celebrity Paris Hilton. (Click)

The best modern art institution in France will exhibit CryptoPunks and Autoglyph NFTs

A permanent display of NFTs has been announced by Paris, France’s top modern art institution, the Centre Pompidou. The museum will feature NFTs from diverse worldwide digital artists, including CryptoPunk #110 and Autoglyph #25.

The French National Museum of Modern Art‘s director, Xavier Rey, claims that the institution is furthering its interest in digital art concerning blockchain. Rey emphasized that the collection confirms their commitment to supporting creatives as they “conquer new ways of expression.”

Museum of Modern Art

A counterfeit of BAYC files in opposition to ten Yuga Labs trademark applications.

A curious development in the legal battle over intellectual property between the designers of BAYC and the founders of RR/BAYC, Jeremy Cahen, and Ryder Ripps, has led one of the founders of the imitation NFT collection, RR/BAYC, to oppose ten trademark applications from Yuga Labs.

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The Yuga Labs crew doesn’t appear to be discouraged, though. In an interview with a major news outlet, an official from Yuga Labs claimed that the filing is only an effort to “distract” from the actual problem.

In 2022, Ethereum NFT collections lost over 60% of their market capitalization.

NFTs are not immune to the consequences of the 2022 crypto winter. Research from DappRadar examined 81 NFT collections based on the Ethereum network and found a sharp fall in overall market valuation in 2022.

While the NFT market in Ethereum was valued at $9.3 billion at the start of the year, research shows that the valuation plummeted to $3.7 billion by the end of 2022. According to the analysis, the dropping value of Ether in 2022 may have an impact on market capitalization.

Ordinals have helped Bitcoin reach a new high of 44 million non-zero addresses.

The introduction of Bitcoin NFTs and Bitcoin Ordinals has increased the number of non-zero Bitcoin addresses to an all-time high of 44 million. The network is being utilized for other reasons for the first time in BTC’s 14-year existence, according to analytics firm Glassnode.

Glassnode pointed out that the spike in Ordinals’ use led to an upswing in Bitcoin network utilization. The site also emphasized that this new capability introduced additional active users with a non-zero balance to Bitcoin.

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