Skip to main content

MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
Post a Comment

Judge blocks sale of Jay-Z's first album and its copyright as an NFT

Damon Dash has slammed the complaint against him from Roc-A-Fella Records, stating that he never minted an NFT and was only attempting to sell his stake in the company.

A New York judge has issued a temporary restraining order to block an alleged attempt from Roc-A-Fella Records Inc (RAF) co-founder Damon Dash to sell a tokenized version of Jay-Z's first album “Reasonable Doubt” along with its copyright.

Dash however has claimed he was only trying to sell his stake in RAF.

Rapper Jay-Z co-founded RAF with Damon Dash and Kareem Burke back in 1996. The record label has split ownership between the three, with the company owning the full copyright to the album in question.

RAF asserted that Dash was attempting to auction off a tokenized version of the album and its copyright on SuperFarm on June 23, an NFT marketplace co-created by crypto YouTuber ElioTrades. While that auction was cancelled the complaint alleges Dash is "frantically" trying to arrange another.

New York District Judge John P. Cronan agreed to halt the sale and restrain Dash from selling the copyright to the album until at least after a July 1 hearing.

A complaint filed on June 18 shows a number of claims against Dash, including breach of fiduciary duty, unjust enrichment, conversion, and replevin. It reads:

“The bottom line is simple: Dash can’t sell what he doesn’t own. By attempting such a sale, Dash has converted a corporate asset and has breached his fiduciary duties."

The complaint cites an announcement from SuperFarm before the auction on June 23, in which the NFT platform said that it is “proud to announce, in collaboration with Damon Dash, the auction of Damon‘s ownership of the copyright to Jay-Z’s first album Reasonable Doubt,” with RAF asserting that the NFT has already been minted on the blockchain.

Related: Beyond the hype: NFTs’ actual value is still to be determined

The plaintiff’s prayer for relief includes nominal damages, punitive damages, the cost of the lawsuit and attorney fees, and the enjoinment of Dash from selling any interest in the album.

Speaking with Rolling Stone on June 22, Dash slammed the complaint, claiming that he never minted the album as an NFT, and was only attempting to sell his stake in the company:

“There hasn’t been an announcement. There wasn’t an announcement at all. Don’t you think that if I made an announcement that I’m selling Reasonable Doubt you would’ve heard about it?”

“What they’re accusing me of is minting a whole album. So if it’s already minted, it’s already on the blockchain, that means it’s already there. It never happened, and they know it never happened,” he added.

https://ift.tt/2Ulndm4
Labels:

Comments

Post a Comment

Popular posts from this blog

Blockchain Software Firm Consensys Acquires Mycrypto Ethereum Wallet

On February 1, the blockchain infrastructure firm Consensys has revealed it has acquired the Ethereum-based wallet Mycrypto and plans to merge the wallet into Metamask. The price Consensys paid for Mycrypto was not disclosed but the announcement notes that the acquisition will “further improve the security of all the products.” Consensys Obtains Mycrypto Ethereum Wallet, Plans to Merge With Metamask in the Future Consensys has acquired the Ethereum-based wallet Mycrypto for an undisclosed sum according to an announcement released on Tuesday. The deal aims to strengthen the company’s Ethereum wallet Metamask and “enhance Web3 experiences.” The eventual merger between the two Ethereum interfaces will “provide users with a heightened experience that is even more extensive and secure,” according to Consensys. Consensys is an Ethereum software company led by one of the Ethereum co-founders Joseph Lubin. The Web3 wallet Metamask, with 21 million monthly active users (MAUs) is owned by C...
Post a Comment
Read more

The Congolese Mountain of Gold: Surprise Discovery in Africa Shows Metal’s Scarcity Is Hard to Prove

A myriad of gold bugs like to compliment the yellow precious metal for its ostensible scarcity, as estimates say only 2,500 to 3,000 tons of new gold is produced annually. While new gold discoveries have seemingly slowed, investigative studies also show that in some areas, gold is being smuggled into the economy by the ton, and often never accounted for as far as per annum issuance estimates. Recently, reports show a whole mountain of gold was discovered in the Congo, as the Democratic Republic of the Congo is well known for being a region that sees tons of smuggled gold filtered into the global financial system unreported. Surprise Gold Deposits Continue to Crack the Precious Metal’s Scarcity Proposition It has always been said that the precious metal gold (Au) is scarce, and some reports even say that gold mining on earth will end by the year 2050 . Additionally, estimates also show that there’s roughly 2,500 to 3,000 tons of new gold that is accounted for and enters into the fin...
Post a Comment
Read more

Bitcoin Legal Tender in 3 Days but Survey Shows 7 Out of 10 Salvadorans Want Bitcoin Law Repealed

Bitcoin is becoming legal tender in El Salvador in three days. However, a nationwide survey conducted by the University Institute of Public Opinion (Iudop) shows that seven out of 10 Salvadorans want the government to repeal the Bitcoin Law. El Salvador’s Bitcoin Law Goes Into Effect in 3 Days The University Institute of Public Opinion (Iudop) in El Salvador conducted a study between Aug. 13 and Aug. 20 of how the public views the country’s upcoming Bitcoin Law. The institute is a research center of the José Simeón Cañas Central American University (UCA). El Salvador’s Bitcoin Law is set to go into effect on Sept. 7 , when BTC will be legal tender in the country alongside the U.S. dollar. A total of 1,281 respondents ages 18 and over participated in this national survey that “represents the entire adult population residing in the country,” according to the institute. Out of all the respondents, 62.4% said they were aware of the approval of the Bitcoin Law by the deputies of the ...
Post a Comment
Read more