Thefts, Fraud and Lawsuits at the World’s Biggest NFT Marketplace

June 6, 2022By rightstech

OpenSea’s troubles are piling up just as demand for NFTs cools amid a crash in cryptocurrency prices. NFT sales have dropped about 90 percent since September, according to the industry data tracker NonFungible. OpenSea is also contending with competition from newer marketplaces built by established crypto companies like Coinbase.

Source: Thefts, Fraud and Lawsuits at the World’s Biggest NFT Marketplace

RightsTech Extra

AI Companies Get the Picture

By Paul Sweeting

One of the biggest challenges facing copyright owners in grappling with the rapid development of generative AI technology, apart from a murky legal status, has been market failure, as discussed here in previous posts. The amount of existing material needed to train gen-AI models is so great, and so varied, that gauging the value of any one piece of it to establish a market price for it for licensing purposes is often effectively impossible. One group of rights owners is finding willing buyers among AI companies, however. An active, albeit for various reasons mostly sotto voce market has begun to emerge for the use of images held in large photo archives and by photo agencies and social media platforms, complete with per-unit industry and at least a nod toward creator attribution... Read More >>

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