Bored Ape Conspiracy Club đ€Ș
Allegations that BAYC founders are alt-right members, AP's new NFT marketplace
Cultured is a newsletter by Otis that gets readers up to speed on the most interesting things going on at the intersection of finance, art, collectibles, NFTs, and more.
đ STORIES OF THE DAY
In recent days, the NFT world has been rocked by a conspiracy theory that the founders of BAYC could be part of the alt-right. The originator of the theory is Ryder Ripps, a prominent NFT artist.
Rippsâs claims areâŠflimsy. The company that makes BAYC is called Yuga Labs, which he says is a reference to a popular alt-right meme. The BAYCâs skull logo also apparently looks like a Nazi skull-and-crossbones patch, down to the number of teeth (18, apparently a dogwhistle for âAdolph Hitlerâ).
If this all feels a bit like a bunch of red strings on a crazy wall, youâre not alone. The NFT community is sharply divided on the issue. Supporters have found new clues that confirm the theory, while opponents claim that Ripps is profiting off of the drama.
Our Take: One of cryptoâs biggest advantages is its anonymity â but it comes with risks.
When crypto first went mainstream a few years ago, early adopters were thrilled about the potential for privacy and anonymity. As the price of crypto skyrocketed and new tech like NFTs developed, many of these early adopters cashed in. Some were regular people and techies who saw the trend, but some were bad actors who saw crypto as an opportunity to keep their actions anonymous. As the industry ponders new regulations, itâs also considering how to manage the presence of potentially unsavory players.
The Associated Press is launching an NFT marketplace for its best photos
The marketplace will offer NFTs of works from the APâs photographers. The NFTs will also contain metadata offering info about where and when the photo was taken.
The wire service teamed up with Xooa to launch the service, which runs on the âenvironmentally friendlyâ Polygon blockchain. AP will use the proceeds to fund its news program.
AP is also planning a series of âPulitzer Dropsâ for photos that have won a Pulitzer Prize. These works will be released in smaller batches to preserve scarcity and can be traded on secondary marketplaces.
Our Take: APâs NFT marketplace isnât an attempt to get into the metaverse â itâs about appealing to digital collectors.
Whereas most NFT marketplaces are positioning themselves with a metaverse tie in, the APâs announcement never even mentioned it. From the looks of the website, it seems like theyâre appealing specifically to photo collectors who want to own a digital piece of history. In that way, the marketplace is similar to other NFT projects by organizations like the New York Times and Quartz.
âš AROUND THE INTERNET
A collection of Star Wars toys that were purchased from a supermarket bargain bin in the 1980s has sold at auction for almost $70,000.
Takashi Murakami is back on the sneaker game. The artist revealed that heâs restarting his sneaker project, which he shuttered a while back due to rising costs.
Italyâs government is considering blocking a $500 million sale of a 16th century Roman villa. Academics and politicians have sounded the alarm about the sale, saying it could lead to valuable artifacts being exported from the country.
NES devotees, rejoice! You can finally preorder the TinyNES, a mini clone of the original NES system that lets you play authentic original cartridges.
While many artists are getting rich on NFTs, others have found their works sold on marketplaces without their permission. Art piracy is a growing problem that poses a real issue for many IRL artists.
The biggest sporting event of 2022 is coming up in early February, and its owners are selling NFTs of the players. Yes, Iâm talking about the Puppy Bowl XVIII.
