New Logo Slated For Yuga's Dog-Themed NFT Collection
The Bored Ape Kennel Club (BAKC) logo of non-fungible token (NFT) conglomerate Yuga Labs is getting an update after recent allegations of intellectual property theft.
Yuga co-founder Greg Solano, better known as "Garga," tweeted on February 18 that BAKC's logo would be changing and the project would be "unveiling the new logo soon."
Today I saw the claims about the BAKC logo. This was news to us and we are still investigating the situation. I contacted the freelancer we hired for that design and Easy Drawing Guides. We will change the logo and update it on our site / ask markets to change as... https://t.co/OwtflDXehz
โ Garga.eth (Greg Solano) (@CryptoGarga) February 18, 2023
Yuga has been in the pound about his trademarked logo, as it looks remarkably similar to the finished product of a tracing drawing guide made for kids by a company called Easy Drawing Guides.
Easy Drawing Guides released a wolf skull drawing guide on April 5, 2021, a little over two months before BAKC's release on June 17, 2021. The company has asserted its intellectual property rights to the drawing. .
thanks for bringing this @Jdotcolombo. @yugalabs You do not have a license to draw the wolf skull. The intellectual property rights of the drawing belong to Easy Drawing Guides, as it is our original drawing and is protected by our Terms and Conditions.
โ Easy Drawing Guides (@easydrawingguide) February 17, 2023
Solano said that the whole debacle "was news to us", adding that Yuga was "still looking into the situation" and had contacted Easy Drawing Guides and the freelance artist hired for the design.
Blurred lines: NFT market wars increase sales
NFT sales over the past seven days have skyrocketed amid a battle for dominance between OpenSea and rival Blur, with the two sparring over fees and creator royalties.
According data From NFT aggregator CryptoSlam, NFT sales volume increased more than 101% last week compared to the previous week and reached more than $524 million traded in the last seven days as of this writing.
One of the key factors in the increase was Blur airdrop token on February 14 giving users the incentive to farm the drop using the platform.
Blur has remained the dominant market in terms of trading volume since the start of the year and has dominated OpenSea in that regard.
DappRadar analysis show the trend continued over the past week: Blur pulled in nearly $400 million in volume compared to OpenSea's $105 million.
OpenSea recently spun a comeback campaign and has reduced its platform fee to zero, enacted optional creator royalties, and more lenient blocks in other markets.
'Thick toe' bug costs NFT trader thousands of dollars
The pseudonymous NFT collector known as "Franklin" made a "big toe" mistake when bidding on a collection, which saw him accidentally bid more than 21 times the minimum price of an NFT.
On February 19, Franklin admitted to the failed buyswhich saw him buy an NFT from the Azuki project's BEANZ collection for 35 ETH, or around $60,000 at the time, even though the minimum price was around 1.7 ETH, or $2,800.
As you may know, I made a fat finger picking offer of 35 ETH on Beanz. I had intended to write a much lower offer with an amount of 35, but instead I offered 35 ETH for 1 buy (minimum 1.73 ETH at the time). It was accepted before I could cancel.
oops.
I'll be fine.
โFranklin (@franklinisbored) February 19, 2023
He said he "made a big toe collection offer" on the BEANZ collection, but was actually meant to enter a "much lower offer with a quantity of 35".
"Instead I offered 35 ETH for 1 purchase [...] It was accepted before I could cancel. oops. I'll be fine." Franklin tweeted.
However, it appears that Franklin owned Bean #10626 for only a short time, as only two hours after the mistaken purchase, it was sold for just 1.77 WETH, a loss equivalent to nearly $56,000.
Free Mint Starbucks NFTs Now Fetch High Prices
An initially free NFT collection launched by global coffee shop chain Starbucks is now seeing NFTs inexplicitly listed for thousands of dollars just two months after initial minting.
The Starbucks Odyssey NFT polygon collection is a rewards program released in December 2022, still in closed beta. Only four "drops" have been released accruing a total volume of $148,000, the first of which is a 5,000 strong "stamp" titled Holiday Cheer Stamp Issue 1.
Collection owners initially received the NFTs for free, and despite low transaction volume, they are now asking around $2,000 for a token at Nifty Gateway.
![](https://i3.wp.com/s3.cointelegraph.com/uploads/2023-02/1cc258c0-0b9f-42a5-95db-ca6e846813f4.png?ssl=1)
The collection alone accounts for $117,000, or around 80% of the total collection sales volume.
Related: What are the applications of NFTs in supply chains?
Being the first release, the NFT could be seen as more special for certain collectors. Starbucks has also said that the rewards in its NFTs will range from exclusive products for NFT holders, invitations to exclusive events, and perhaps a trip to a Costa Rican coffee farm.
Meanwhile, the other dips are seeing much lower price lows, with another 5,000 strong dip hitting $100, while a 30,000 strong dip is nearly half that down to just $59.
Other witty news
KnownOrigin, eBay's NFT marketplace, is launched no-code creator smart contracts so that artists can split the profits and earn royalties as co-creators of the collections. A beta version has been tested for the past few weeks with 84 contracts implemented and 250 NFT issues minted.
Web3 friend Neal Mohan was named as the new boss of YouTube, its previous tentative plans for the platform included the potential for creators to tokenize videos, photos, art, and experiences to provide them with additional revenue streams.