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.
Nightly Mint
The Latest Mint, Solana NFTs
If you’re keeping up with the hype, dominating the conversation this week has been goblintown and Trippin Ape Tribe. While the latter project is not on Ethereum but has become a major player on Solana, it briefly took over Ethereum’s 24-hour volume lead.
Similar Reading: Market sentiment dangerously negative as Crypto Fear Index drops to a two-year low| Market Sentiment Dangerously Negative As Crypto Fear Index Drops To Two-Year Low
Solana has been cited as the leader of 'altcoin' NFT communities. Although other blockchains have made great strides in the past, this is a "long game" for the larger NFT community.Source: SOLUSD on TradingView.com | 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
It’s not hard to believe.
Holy shit Solana NFTs are exploding
— Magic Eden 🪄 (@MagicEden) May 25, 2022
TA: Ethereum Forms Bullish Pattern But This Level Is Crucial| TA: Ethereum Forms Bullish Pattern But This Level Is Crucial
Featured Image from TradingView.com, Charts and Pexels This content was not written by or associated with the mentioned parties. This article is not meant to provide financial advice.