Crypto Punks v1 versus v2 legal battles in the offing

Crypto Punks v1 legal battle is still in progress, but the team has already announced a new trailer for CryptoPunks 2.0 and its upcoming game update.

The “crypto punks nft” is a crypto collectible game created by Crypto Punks. The game has been in legal battles since the start of its release. There are two different versions of the game, v1 and v2.

After removing Crypto Punks v1 from its marketplace, OpenSea has taken a step back. This is in line with reports that Larva Labs has sent OpenSea with a takedown notice. Coin Telegraph reports that

“…was purportedly due to CryptoPunks v2 creators Larva Labs serving OpenSea with a Digital Millennium Copyright Act takedown letter.”

The history of crypto-punks

Crypto Punks is one of the most well-known and lucrative ventures on the market today. However, many newcomers are unaware that there are two types of Crypto Punks: v1 and v2.

The fact that both sets of NFTs were created by the same business, Larva Labs, adds to the bizarreness. Confused? Continue reading.

With a total of 10,000 NFTs, the project began in 2017. Dishonest owners, on the other hand, were able to take advantage of a flaw in the contract that enabled them to withdraw their Ethereum after purchasing NFTs.

When Larva Labs discovered the theft, they discovered that the v1 NFTs were counterfeit. They subsequently went on to publish the v2, which has proven to be one of the most popular NFT collections to date.

Despite this, there are 20,000 Crypto Punks in existence, with 10,000 of them being suspect.

The entire affair was basically forgotten once OpenSea delisted the v1 NFTs. This occurred even after a flaw in the contract was fixed by wrapping the v1 collection in ERC-721 tokens.

The now

Things have changed dramatically with the debut of LooksRare and the subsequent listing of the Crypto Punks v1 NFT collection. OpenSea decided to relist the v1 collection after it was offered on the LooksRare marketplace. The DMCA notification was issued as a result of this.

v1 Punks sent out a tweet.

The conflict has not been resolved as a result of this. A statement posted to the Crypto Punks v1 Discord channel, according to Coin Telegraph, indicates that the organization has hired a top American IP lawyer. He informed them that they could continue to trade their v1 NFTs legitimately.

Is this the start of something?

So, things are heating up in the NFT scene as that wonderful American pastime of’suing the f**k out of anything’ comes into action.

That’s right, after last year’s phenomenal growth in popularity and acceptance of NFTs, lawsuit is the next logical step. Certainly, there has been a cadre of ‘ambulance chasers’ investigating the NFT markets for any copyright infringements during the previous year.

 We will undoubtedly see many more pieces like this in the coming months.

As an example:

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