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New CryptoPunks NFT Collection Disbands After Backlash to ‘Woke’ Art

TokenTalk Staff

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New CryptoPunks NFT Collection Disbands After Backlash to 'Woke' Art

CryptoPunks is arguably the most iconic and influential profile photo (PFP) collection at NFT world, and then taking the project to museumsYuga Labs has been trying to expand its entry into the art world by allowing notable artists to riff on IP with the official Punks label.

But the first effort, revealed Monday With the launch of a new Punks-branded NFT collection, it faced immediate backlash from collectors and crypto watchers – including allegations of “woke” artwork, sometimes accompanied by personal attacks on the artist. Now Yuga is changing and apparently abandoning future plans.

Artist Nina Chanel Abney was previously named the inaugural selection of the Punk in Residence program, and over the weekend revealed her new collection, “Super Punk World.” Following an opening event at The School at Jack Shainman Gallery in New York, Yuga Labs and Abney revealed the planned NFTs on Monday.

The Punk in Residence program is designed to generate chain collaborations that promote creative experimentation around the project and NFTs more broadly. Abney’s limited series digital collectibles embody his bold style and perspective, reimagining the iconic traits of CryptoPunk through his own vision.

Nina Chanel Abney (center) with original CryptoPunks creators John Watkinson (left) and Matt Hall (right) of Larva Labs. Photo: Yuga Labs

“CryptoPunks is an iconic and pioneering project that has played a crucial role in creating the digital collectible space,” said Abney. Decrypt before exposure. “By collaborating with them, I saw an opportunity to be at the center of a unique intersection of art, technology and culture.”

Having previously released a digital art collection titled “Super Cool World” through Digital Asset Gallery Backed by Pharrell Williams (GODA), Abney is no stranger to expanding his work into the medium. For “Super Punk World,” a 500-piece avatar collection, she hand-selected each of the avatars from more than 10,000 results.

This collection, randomly generated and then manually curated by Abney, draws inspiration from the iconic features of CryptoPunks and the attributes of Super Cool World. Each feature was hand-cut by Abney and digitized to create 195 unique 3D-sculpted attributes based on 25 personas. These characters, set against colorful backgrounds inspired by his previous work and printmaking techniques, embody Abney’s aesthetic and pay homage to the irreverent, early roots of the CryptoPunks project on Web3.

“What we wanted to do was introduce wallets and generative art, and Web3 and NFTs, to this more traditional art audience and collector group,” said Nathalie Stone, general manager and brand lead at CryptoPunks. Decrypt last week.

A photo from the “Super Punks World” exhibition. Photo: Yuga Labs

“We’re trying to bring CryptoPunks to the masses here, in a way,” Stone added, “but also get them to understand why digital ownership is important.”

Abney’s digital worldview reflects on virtual identities versus real-world identities, addressing price disparities between digital avatars based on gender and skin tone. White male avatars tend to generate higher secondary sale prices than their darker-skinned or female counterparts in prominent NFT collections.

His hybridized figures fuse racial components and aim to blur the lines between masculine and feminine, challenging social notions of inherent value and prompting viewers to confront their implicit prejudices.

However, after Abney’s riff on CryptoPunks was revealed on Monday, the project received substantial backlash on social media.

Some commentators took aim at the art style itself or even the concept of trying to reimagine an iconic design, while others leveled accusations of being “woke” due to its emphasis on race and gender, igniting debates about the intersection of art, identity and digital culture.

It has also received negative attention for diluting the original Punks collection, with some collectors upset with Yuga Labs’ attempt to expand a project that is considered valuable, “blue chip” Ethereum NFT Set.

Yuga Labs initially declined to comment Decrypt as soon as the backlash began, but early Monday evening, company CEO Greg “Garga” Solano tweeted a statement. The NFTs were initially planned to be auctioned, but will now be distributed in some form to Super Cool World NFT holders, potentially through a “random airdrop.” And it looks like there won’t be any subsequent artistic residency initiatives, at least not in the same way.

“Yuga will no longer touch punks,” he wrote. “They will just be decentralized and preserved on the blockchain. The only thing we intend to do is support some museums and institutions in their quest to acquire Punk and help educate their audiences about them.”

Abney confirmed Solano’s statement in a tweet and thanked Yuga Labs for supporting her art and helping the pieces get into the hands of their keepers — but then lamented the hateful attacks sent to her on social media as a result of the project’s reveal.

“I am totally disgusted by some of the racist, sexist, homophobic, [and] transphobic comments that the controversy surrounding this project has unearthed,” she wrote.

“What is really in the weak point of this space?” Abney continued. “Now, more than ever, I will continue my mission towards an inclusive community where everyone is accepted and ideas that stimulate productive dialogue are welcomed. No hate tolerated.”

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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NFTs

8 NFT Primitives You Should Know

TokenTalk Staff

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8 NFT Primitives You Should Know About

If DeFi has “legos of money”, then NFTs have “legos of culture”.

Another way to put it? NFT Primitives.

In cryptography, a primitive is a fundamental building block that can be used to create more complex systems or applications.

NFT primitives are important because they pave the way for new innovations and new use cases around NFTs, allowing developers to create more sophisticated and versatile experiences.

To give you a better idea of ​​the programmable possibilities here, let’s look at 8 examples of some of today’s most notable NFT primitives.

1. Zora Protocol Rewards

by Messari

When a creator selects the “Free + Rewards” pricing option when minting their NFTs on Zora, they become eligible for Protocol Rewards by splitting the Zora Mint fee of 0.000777 ETH.

Upon new mintings, these rewards are accumulated in an escrow contract and can be withdrawn by the creator at any time.

Developers or platforms that facilitate the creation of NFT collections or refer collectors to mint NFTs also receive rewards. This includes “referral creation” rewards for those who bring creators to the platform and “mint referral” rewards for those who bring collectors.

Hence, Zora Protocol Rewards introduces a fundamental reward mechanism that can be leveraged to create new applications, for example, alternative self-funded Zora front-ends. It can also be easily integrated into existing NFT projects and platforms.

2.ERC-6551

by Benny Giang

ERC-6551 introduced a fundamental change to the NFT space, allowing NFTs to function as their own smart contract accounts.

By allowing NFTs to own assets, interact with web3 applications, and act as onchain identities, ERC-6551 has significantly expanded the basic properties of ERC-721 tokens. The composable nature of ERC-6551 means it can be combined with other protocols and applications to create innovative NFT utilities.

For example, the original architecture of the AI-based simulation game Parallel Colony was inspired by ERC-6551, as the standard allowed the game’s AI agents to act as wallets and manage their own token assets.

3. Boosts

by Boost

Boost is a distributed incentives protocol. It allows for the deployment of incentives, i.e. tokens, to encourage targeted on-chain actions, and recently we have seen more and more incentives deployed to drive engagement for new NFT mints.

For example, you can set up a boost so that the first 100 minutes of your latest NFT drop will receive 2$OP each as a reward. How you configure the parameters is completely arbitrary and up to you.

That said, Boost’s open and composable design allows it to be easily integrated into other applications, allowing it to serve as a lever for anyone looking to take advantage of its features.

4.DN-404

by Standardizer

DN-404an optimized version of the ERC-404 experiment, helped popularize a new way of creating hybrid tokens that act as both fungible (ERC-20) and non-fungible (ERC-721) tokens.

Consequently, DN-404 can be used in a variety of applications, such as enabling fractional ownership of NFTs, increasing liquidity for NFT projects, and creating new trading mechanisms that leverage fungible and NFT properties.

5. Noun Protocol

by Nouns

One of the most popular NFT primitives is the Noun Protocol.

With this system, Nouns pioneered a complete model for continuous NFT generation, auctions and community governance. This foundation has inspired and been modified by many dozens of spin-off projects to date, leading to the phrase “substantive DAOs.”

The fully on-chain nature of the Nouns Protocol also means that developers can build new applications around Nouns as they please.

6. Net Delegates

by to delegate

Created by the team of Delegates, Net Delegates introduced a new mechanism that allows delegation rights to be bundled into tradable NFTs.

By allowing NFTs to delegate rights, Liquid Delegates have added the ability to trade those rights, claim airdrops, access token-gated communities, and more, all without transferring ownership of the underlying asset.

Projects can use this feature for a variety of purposes, but we’ve generally seen it integrated so that people can safely mint or claim tokens in their vault wallets.

7. Non-Fungible Vaults (NFVs)

by Open Dollar

Developed by Open Dollar, Non-Fungible Safes (NFVs) link collateralized debt positions (CDPs) to transferable NFTs instead of protocol accounts.

This primitive makes ownership of stablecoin loan positions liquid and transferable, improving capital efficiency and flexibility.

In other words? NFVs pave the way for the first secondary lending markets in DeFi and can be integrated into DeFi in new ways thanks to the existence of NFTs.

8. Net Listings

by Skinner

One of the latest NFT primitives is Flayer Net Listingswhich allows rarer non-floor NFTs to be deposited into collection pools in exchange for “Floor Tokens”.

These tokens, for example ƒMILADY, represent the minimum value of the NFT and can be sold to provide immediate liquidity, with the remaining listing value realized in the final sale of the NFT.

Notably, this primitive uses Harberger fees to ensure fair pricing, making it easier to sell NFTs off the floor and access liquidity quickly and smoothly.



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NFTs

OKX Marketplace partners with Web3 game

TokenTalk Staff

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OKX Marketplace now supports zero-fee Metaplex

SINGAPORE, June 21, 2024 (GLOBE NEWSWIRE) — OKXa leading Web3 technology company, published updates for June 21, 2024

OKX Marketplace Partners with Web3 Game BLOCCLORDS to Launch Exclusive Offer of 300 ‘Legacy Cowherd’ NFTs

OKX Marketplace and medieval Web3 game BLOCKLORDS have teamed up to launch a exclusive draw of 300 Ethereum-based ‘Legacy Cowherd’ NFTs. The giveaway, which began on June 19th and will end on June 26th, offers participants an exclusive chance to receive a ‘Legacy Cowherd’ NFT.

To participate in this campaign, participants must hold a minimum of 0.005 ETH during the campaign period and complete simple tasks on social media, such as following BLOCLORDS on X. More details on how to participate in the campaign can be found here.

BLOCKS presents a player-driven medieval grand strategy game where players’ decisions and skills shape the world and narrative. The game offers various play styles such as farming, fighting, resource management and government, allowing players to create their own destinies. The ‘Legacy Cowherd’, BLOCKLORDS’ newest hero, symbolizes patience, resilience and heritage, guiding his cattle through storms to lush pastures.

For more information, visit the OKX Support Center.

For more information, please contact:
Media@okx.com

About OKX

A leading global technology company powering the future of Web3, OKX offers a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet that gives users access to over 85 blockchains while allowing them to take custody of their own funds. The portfolio includes MPC technology which allows users to easily regain access to their wallet independently, eliminating the need for traditional, ‘written’ seed phrases. Additionally, OKX Wallet’s account abstraction feature Smart Account allows users to pay for transactions across multiple blockchains using USDC or USDT and interact with multiple contracts through a single transaction.
  • DES: A multi-chain and cross-chain decentralized exchange aggregator with 400+ other DEXs and approximately 20 bridges, with 200,000+ coins and 20+ blockchains supported.
  • NFT Market: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings on seven top-tier marketplaces, including OpenSea, MagicEden, LooksRare, and Blur.
  • Web3DeFi: A powerful DeFi platform that supports earning and staking on around 70 protocols across 10+ chains.

OKX partners with many of the world’s leading brands and athletes, including English Premier League champions Manchester City FC, McLaren Formula 1, Tribeca Festival and Olympian Scotty James.

OKX also regularly publishes articles, accessible via OKX Learn. These articles provide readers with in-depth analyzes of all cryptocurrenciesincluding factors that influence Bitcoin Prices It is Ethereum Prices.

To learn more about OKX, download our app or visit: okx.com

Disclaimer

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NFTs

Bitwise launches commercial Pro Ethereum as NFT

TokenTalk Staff

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Bitwise launches commercial Pro Ethereum as NFT

For the first time, Bitwise Asset Management, a crypto index fund manager, has turned an Ethereum TV commercial into an NFT. The move is part of Bitwise’s campaign to raise awareness of Ethereum crypto projects such as stablecoins, NFTs, DeFi and tokenization, while promoting the Bitwise brand.

As part of the campaign, Bitwise made history by offering viewers the opportunity to mint the ads as low-cost, open-edition NFTs through Zora, a widely used NFT platform on Ethereum. This marks the first time a national TV commercial has been minted as an NFT.

Minting profits will be split equally between the Protocol Guild, which supports open source Ethereum developers, and the actors featured in the videos.

There is something about embodying Ethereum in contrast to legacy financial and technology platforms that both highlights its potential and highlights how inefficient the status quo can be. With these announcements, we are excited to highlight Ethereum’s innovative potential with the accessibility, intelligence, and crypto-native spirit that has always defined Bitwise.

said Victoria Kulbanska Anderson, head of growth marketing at Bitwise.

The Ethereum-themed ads were created in cooperation with Studio City PXL and production company Revolver Films. The success of other previous campaigns like ‘Bitcoin Is Interesting’ also suggests that this partnership creates value for the public and for the companies involved in making the commercials.

Bitwise Asset Management is a crypto investment company founded in 2017 and offers its investors investment products such as ETFs, private funds and active solutions.

Read too: Bitwise Updates S-1 for Ethereum ETF After SEC Feedback

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NFTs

Konami Launches NFT Solution ‘Resella’ on Avalanche Blockchain

TokenTalk Staff

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Konami Launches NFT Solution 'Resella' on Avalanche Blockchain

Konami Launches NFT Solution ‘Resella’ on Avalanche Blockchain

What is Resela?

Resella facilitates the design, issuance and negotiation of NFTs across multiple services as well as providing a marketplace for users to buy and sell these digital assets. Notably, the platform supports transactions in Japanese yen ($JPY), making it accessible to users unfamiliar with cryptocurrency.

“Resella paves the way for new social experiences within the web3 ecosystem, envisioning seamless integration between diverse services to improve user engagement,” Konami said in a statement.

“For example, NFTs originating from gaming environments can transcend their virtual boundaries to serve as event tickets or unlock exclusive in-game content, enriching the overall user experience,” the company added.

The platform is designed to not only develop new web3 services but also convert existing web2 services to web3. Konami intends to promote the adoption of web3 technologies in different consumer sectors, in addition to gaming.

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