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Nickelodeon NFTs Have Arrived

NFTs & Law, What's Dropping, And More

June 10, 2022

Welcome to The Drop NFT Newsletter. Breaking NFT news, project breakdowns, & artist spotlights - We do the heavy lifting so you don't have to! Join our Discord to win raffles and allow list spots!

What's Dropping ⚡️

  • Ethereum developers completed another test merge, this is great news for those waiting on ETH2.0. Vitalik is hinting at an August availability. (Coindesk)

  • Jim Carrey released his NFT named "Sunshower" and is currently up for auction on SuperRare. Check it out here.

  • Ken Deeter of Electric Capital shares the optimistic graph he drew up, showing the life cycle of good projects and copycats.

  • Seth Greenes stolen BAYC has been miraculously returned (after he bought it back)! Will his show come to light? (Buzzfeed)

  • Law firm Holland & Knight serves a hacker with an NFT restraining order that was airdropped to their wallet (more on that below)

  • Nickelodeon tweets "The 90s called, they want your attention back" along with a short teaser and the hashtag "NickelodeonNFT".

  • Mastercard has officially partnered with various NFT marketplaces in hopes to create easier and safer purchases. (PYMNT)

  • Actor Anthony Hopkins changes his Twitter handle to be more web 3 friendly and tags Snoop asking which NFTs to buy. (Decrypt)

  • Rap group Migos just dropped a music video in Decentraland.

Paramount NFTs 🎥

Despite volatility in prices among all assets and in NFTs in particular, web3 developers have remained steadfast towards their goals, and audiences have remained committed to the asset class. Mastercard has most recently announced that it plans to offer its payment service as a method to directly purchase NFTs. Specifically, they are working to ensure Mastercard is compatible with Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and Moonpay. This is a move that Mastercard’s Executive Vice President Raj Dhamodharan claims will bring access to digital goods that people across the world have indicated they desired in a recent survey. Indeed, this is a valuable move in light of the fact that the companies that produced our childhood icons are planning to cash in on our nostalgia via NFTs. ViacomCBS/Paramount is partnering with Recur to bring its IP into the world of collectible digital goods.

For Viacom (now recently name changed to Paramount), this beacons an opportunity for them to collect royalties on all of the illustrious materials that many will trade because these items are near and dear to their childhood and identity. Additionally, it serves as a conduit into the world of NFTs for people not already familiar with the ecosystem. Although Mastercard hasn’t named Recur as an entity that they plan to create compatibility with, it doesn’t seem to be a stretch of the imagination to foresee popular brands teaming up with popular financial instruments in a bid to cash in on untapped markets.

You've Been Served (NFT Style) ⚖️

From marketplaces for allowlists to staked tokens for Ethereum, the possibilities are endless with NFTs. But when it comes to connecting real-world use cases, you really have to use your imagination in order to formulate those humanized connections.

On June 6th, Holland & Knight LLP served an anonymous hacker a restraining order via airdrop. They became the first law firm to utilize the power of the blockchain to serve a defendant, thus creating a new form of utility. Imagine that, and the possible reverberations that could be felt.

The hacker in question was served in reference to a January hacking case that siphoned nearly $8 million from the LCX crypto exchange based in Germany. The funds were removed via Tornado Cash, and sent to multiple wallets. Despite losing the funds, LCX was able to freeze about 60% of the impacted funds since the attack.

The restraining order was served via NFT, and has been deemed an approved method by the New York Supreme Court. This method highlights the real-world adaptations that can be put into place are bountiful. But you have to be creative, and Holland & Knight have done just that. Imagine hacking a platform in January, and losing 40% of the funds that you have access to. Then you wake up, and there’s a restraining order NFT sitting in your wallet. You’re definitely NGMI.

Meme Drop 💧

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Disclaimer: The Drop DOES NOT provide financial advice. All content is for informational purposes only. The Drop is not a registered investment, legal, or tax advisor or a broker/dealer. Trading any crypto-related asset is extremely risky and could result in significant capital losses.

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