We’re wrapping up the last full week of May, and the NFT market is seemingly still performing strongly – considering the middling cryptocurrency market at large.
Meanwhile, Solana NFTs are getting a nice boost in what the community is calling ‘Solana Summer.’ Can a rising tide lift all boats? Additionally, U.S. case law around NFTs – largely unprecedented thus far – is seeing new decisions that could have major impacts on how legal courts interpret NFT cases in the future.
The Nightly Mint
Latest Mint: Solana NFTs, Apparently
If you’re keeping up with the hype, dominating the conversation this week has been goblintown and Trippin Ape Tribe. The latter has been an explosive project on Solana (the former being on Ethereum), and for a brief period today took the lead over Ethereum in 24-hour volume.
Related Reading | Market Sentiment Dangerously Negative As Crypto Fear Index Drops To Two-Year Low
Solana has been featured as the leading ‘altcoin’ NFT community behind NFTs, and while other blockchains continue to make strides, it’s a ‘long game play’ for the broader NFT community. | Source: SOL-USD on TradingView.com
Historic NFT Federal Case Law Underway With ‘MetaBirkins’
A new precedent in NFT case law could be underway, as Hermès battles with artist Mason Rothschild over his ‘MetaBirkins’ NFT project. An analysis of some recent decisions in the case by Pierce Atwood LLP reflects that Rothschild’s were a form of artistic expression fitting under the First Amendment. However, the court will still need to decide whether the project’s name has had “sufficiently compelling” enough evidence to show a likelihood of confusion between the fashion firm’s item and the NFT project name.
The ‘Minty Fresh’ Take
Holy shit Solana NFTs are exploding
— Magic Eden (@MagicEden) May 25, 2022
Related Reading | TA: Ethereum Forms Bullish Pattern But This Level Is Crucial
Featured image from Pexels, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.