Expired Copyright of Mickey Mouse Sparks NFT Craze on OpenSea
The expiration of the copyright on the 1928 depiction of Mickey Mouse in the iconic short film “Steamboat Willie” caused a frenzy in the world of nonfungible tokens (NFTs). As of January 1st, the 1928 version of Mickey Mouse became available to the public, and the following day, several NFT collections based on “Steamboat Willie” quickly rose to the top of the trending list on the popular NFT marketplace, OpenSea.
One collection, titled “Steamboat Willie Public Domain 2024,” saw a trading volume of approximately $1.2 million within a 24-hour period. This impressive performance placed the collection alongside other prominent NFT collections like the Bored Ape Yacht Club and Pudgy Penguins. The expired copyright of Mickey Mouse clearly captured the attention and interest of NFT enthusiasts and collectors.
Legal Expert Warns Against Unauthorized Mickey Mouse NFTs
However, amidst the excitement over the availability of the 1928 Mickey Mouse character, a lawyer has issued a warning to the crypto community. Even though the copyright on the depiction of Mickey Mouse may have expired, there are still limitations on how the character can be used. In an interview with Cointelegraph, lawyer Oscar Franklin Tan emphasized that individuals cannot use the 1928 version of Mickey Mouse to create works that might mislead others into thinking they are affiliated with Disney.
According to Tan, “Mickey Mouse, the trademark and brand, separate from the character, is still private.” It’s important to note that in countries where copyright laws differ, the 1928 depiction of Mickey Mouse may still be protected. This clarification from legal experts serves as a reminder that while the copyright on the character may have lapsed, certain restrictions still apply.
Web3 Professionals Predict Trends and Challenges for NFTs in 2024
Looking ahead to 2024, Cointelegraph reached out to various Web3 professionals to gather their predictions on the future of NFTs. The experts highlighted several key trends and challenges that are expected to emerge in the coming years. One significant prediction revolves around the gaming industry. Jason Lau, the Chief Innovation Officer at crypto exchange OKX, believes that a new wave of Web3-enabled games will expose a broader range of gamers to the potential of NFTs.
The professionals also anticipate increased regulation and the continued tokenization of real-world assets. NFTs have already demonstrated their potential in various domains, from artwork to music, and the experts believe this trend will expand further. However, with increased adoption comes the need for regulation to ensure that the market remains fair, transparent, and secure. The Web3 professionals’ insights provide valuable foresight into potential areas of growth and challenges that the NFT ecosystem may face in the near future.
Former President Trump Cashes Out NFT Earnings on Ethereum
Former President Donald Trump has joined the NFT craze and cashed out his earnings from NFT collections. A crypto wallet associated with Trump recently transferred approximately $2.4 million worth of Ether (ETH) to the popular crypto exchange Coinbase. One of Trump’s NFT collections included a mugshot of him taken when he surrendered to authorities in Georgia in August 2023. This move by Trump highlights the growing appeal and financial benefits of participating in the NFT market.
Nifty News: Trump’s ETH Profits, Bitcoin NFT Debate Heats Up
In other notable news, the debate surrounding the Ordinals protocol among Bitcoiners has intensified. Those against Ordinals have resorted to using derogatory terms like “shit” and “farts” to describe Bitcoin NFTs, arguing that they are detrimental to the network. This heated debate reflects the opinions within the Bitcoin community regarding the integration of NFTs into the blockchain ecosystem.
Additionally, former President Trump’s cashing out of his NFT earnings demonstrates the financial potential and profitability of the NFT market. The ability to convert digital assets into substantial monetary gains further solidifies the legitimacy and attractiveness of NFTs as a lucrative investment avenue.
These developments underscore the rapidly evolving landscape of NFTs, with high-profile figures and contentious debates shaping the industry’s future direction. As the NFT market continues to mature, it will be fascinating to witness how these trends and challenges unfold in the years to come. Stay tuned for more updates on this dynamic and rapidly expanding space.
Analyst comment
News 1: Positive – The expiration of the copyright on Mickey Mouse has sparked a craze in NFTs, with collections based on the 1928 depiction of Mickey Mouse quickly rising in popularity on OpenSea. This indicates a growing interest in NFTs and potential opportunities for collectors and traders.
Market forecast: The market for NFTs is likely to see increased activity and trading volume as collectors and enthusiasts show interest in the recently available 1928 version of Mickey Mouse. This trend may continue to attract attention and investment in the NFT market.
News 2: Neutral – A legal warning has been issued against unauthorized Mickey Mouse NFTs, stating that certain restrictions still apply even though the copyright on the character has expired. This news serves as a reminder of the limitations and potential legal implications in using copyrighted characters for NFT creations.
Market forecast: The market for NFTs may experience some caution as individuals become aware of the limitations surrounding the use of copyrighted characters. However, this may also lead to more responsible and compliant NFT creation practices in the long run.
News 3: Positive – Web3 professionals predict several trends and challenges for NFTs in 2024, including increased adoption in the gaming industry and the tokenization of real-world assets. These insights provide valuable foresight into the potential growth areas and challenges that the NFT ecosystem may face in the near future.
Market forecast: The NFT market is expected to witness continued growth and diversification, especially in the gaming industry and in the tokenization of real-world assets. This could lead to increased adoption and investment in NFTs, as well as the need for regulatory measures to ensure a fair and secure market.
News 4: Positive – Former President Donald Trump cashes out his NFT earnings, highlighting the financial benefits and appeal of participating in the NFT market. This move by a high-profile figure further solidifies the legitimacy and attractiveness of NFTs as a lucrative investment avenue.
Market forecast
