In this week’s newsletter, read about nonfungible token (NFT) founders who started giving company equity to their holders, and check out how community members responded to YouTuber Logan Paul finally refunding disgruntled investors of his CryptoZoo NFT project. In other news, find out how NFTs are stored and how Ninjalerts developers inscribed the Super Nintendo emulator on the Bitcoin network.
NFT projects begin to give away “free” company equity to holders
During the holiday season, Pons Asinorum, the founder of “The Plague” NFT collection, announced their holders would be gifted a percentage of their company shares. Following the announcement, another NFT collection founder, Ovie Faruq, also known as OSF in the NFT space, revealed a similar move on Jan. 1 for holders of the Rektguy NFT collection.
While this seems like a legal risk, Pons believes the move is legal as it was completely unexpected. The pseudonymous NFT founder told Cointelegraph there was no expectation that the holders would receive equity and clarified that it was a gift.
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Logan Paul to “buy back” CryptoZoo NFTs a year after promising refunds
Internet celebrity Logan Paul announced a buyback program for the disgruntled holders of CryptoZoo NFTs. According to Paul, the program will be funded by $2.3 million, which he is personally committing to repurchasing the NFTs at their original purchase price. The YouTuber said the refund was for every person who intended to play the never-released play-to-earn game.
The announcement came a year after Paul promised to refund the investors of the NFT project. Throughout the process, various community voices have called out to the influencer to complete his promise.
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Logan Paul NFT buyback shows celebs can’t “play around” in Web3
Following Paul’s announcement, some community members celebrated the win, while others warned about Paul’s potential “ulterior motives.” Crypto content creator Mason Versluis commented on the development, saying…
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