$7.5 million in NFT collections accused of unauthorized use of artworks threatened by lawsuits – Bitcoin News

Although non-fungible token (NFT) assets are very popular in 2021, there are also a large number of ecosystem-related issues. A recent report indicated that about a dozen artists are considering legal action against an NFT collection called “Art Wars” because their original artworks were sold as NFTs without their consent.

NFT Collection targets the use of artwork without the permission of the original artist

Sales of non-fungible token (NFT) assets have reached billions of dollars this year, and the term “NFT” has only recently appeared Grant Collins English Dictionary Vocabulary of the Year.In the past 7 days, NFT markets such as Opensea have seen US$587 million In terms of sales, Atomicwax has exceeded 20 million U.S. dollars, while Rarible’s weekly NFT sales have exceeded 3 million U.S. dollars.

However, some problems have recently appeared in the NFT industry, such as Permanent, a, secret deal, And now artists are upset about publishing NFTs without consent. The Financial Times (FT) reported that the art works of Anish Kapoor and David Bailey had been issued as irreplaceable tokens without their blessings.

according to report, The Star Wars Stormtrooper helmets made by Kapoor, Bailey and others were photographed without permission and sold as NFTs. The NFT series sells for millions or about 1,600 Ethereum At the time of writing, this is equivalent to more than $7.5 million.

More than a dozen artists may seek legal proceedings-legal disputes caused by intellectual property and NFT

The FT report states that the series is called “Art war“Approximately 1,138 images. Kapoor’s work was resold 1,000 Ethereum, And Bailey’s work is resold for 120 EthereumCristina Criddle of FT said that NFT has changed Outside sea.

“According to legal representatives, approximately 12 artists are considering legal action on the project,” Criddle’s report emphasized.Kridel explained Helen Downey, An artist who uses the name “Unskilled Worker” may take legal action after noticing that two helmets are being sold as NFTs.

Issues similar to those that Kapoor and Bailey are dealing with have recently emerged in the NFT industry and made headlines.Legal representatives of two comic book publishers DC Comics And Marvel have warn Freelance artists may not use copyrighted materials and characters to sell as NFTs.

Famous film director Quentin Tarantino (Quentin Tarantino) law dispute Collaboration with Miramax on “Pulp Fiction” NFT. Roc-A-Fella Records is in trouble Legal war Damon Dash is related to Jay-Z’s debut album “Reasonable Doubt” on the NFT.

Tags in this story

Anish Kapoor, a, Damon Dash, David Bailey, DC Comics, Freelance artist, Helen Downey, secret deal, Jay Chou, Miracle, Miramax, nft, NFT Art, NFT, Irreplaceable tokens, Permanent, pulp Fiction, Quentin Tarantino, Reasonable doubt, Star wars stormtrooper helmet, Stormtrooper helmet

What do you think of artists who are considering legal action against NFT series with sales of more than 7 million U.S. dollars? Please tell us your thoughts on this topic in the comments section below.

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