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- Rolex NFT Trademark Applications ⌚
Rolex NFT Trademark Applications ⌚
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Gm and open wide, here comes your daily dose of NFT news! 💊
What The Heck Is Going On?
Rolex NFT Trademark Applications ⌚
OpenSea Tool For Royalty Enforcement ⛵
What The Meme?
Rolex NFT Trademark Applications
Rolex has filed trademark applications related to cryptocurrencies, metaverse, and NFTs, according to the data published by trademark and patent attorney Michael Kondoudison on November 7.
The luxury watchmaker’s trademark application suggests plans to introduce NFTs, NFT-backed media, NFT marketplaces, crypto keys and transactions, virtual goods auctions, as well as virtual and cryptocurrency exchange.
According to the documents, the trademark was filed with the United States Patent and Trademark Office on October 31 and covers “downloadable software for blockchain technology,” digital wallets, “online spaces for buyers and sellers of virtual products such as watches and watch parts,” virtual environment product placements, and more.
OpenSea Tool For Royalty Enforcement
OpenSea has taken a position in the NFT royalties debate with their launch of a new “on-chain” tool helping creators enforce royalties.
There’s been a lot of discussion over the past few months about business models for NFT creators & whether creator fees (“royalties”) are viable.
Given our role in the ecosystem, we want to take a thoughtful, principled approach to this topic & to lead w/ solutions. 🧵
— OpenSea (@opensea)
12:55 AM • Nov 6, 2022
The tool can be described as a “simple code snippet,” which allows creators to enforce royalties on new and future NFT collection smart contracts and existing upgradeable smart contracts. The code will also restrict NFT sales to only marketplaces that enforce creator fees.
The tool also won’t be rolled out for existing NFT collections for the moment due to implementation challenges.
Reaction among the NFT creator and Twitter community has been mixed. Wab.eth, founder of the Sappy Seals NFT collection and co-founder of The Pixlverse and Pixl Labs said:
I don't fundamentally agree with the removal of royalties though but I do appreciate this execution. There has to be give and take with these things.
Recognizing you are making a (unavoidable) change that harms your audience but also simultaneously presenting a solution.
— wab.eth ❁ (@wabdoteth)
1:20 AM • Nov 6, 2022
What The Meme?
at thanksgiving when your family asks how your cryptos are doing
— nesha.eth (@neshaeth)
11:23 PM • Nov 7, 2022
Also this:
Twitter usage is at an all-time high lol
— Elon Musk (@elonmusk)
12:57 AM • Nov 8, 2022
That's all folks!
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.