Battle for authenticity heats up in world’s most popular NFT collection

OpenSea had previously prohibited the sale of CryptoPunks version 1, even though people wrapped them in ERC-721 tokens to repair underlying exploits. OpenSea was prompted to lift the ban after the wrap collection was just recently listed on LooksRare. The CryptoPunks collection v1 had 12,069 Ethereum ($ 34.1 million) of overall volume traded through OpenSea. While the CryptoPunks collection v2 had 819,900 ETH ($ 2.22 trillion) of overall volume traded through the same platform, at the time this post was published.

Matt Hall discusses CryptoPunks V1 vs. V2Source: Larva Labs main Discord

Matt Hall, core developer of Larva Labs and creator of CryptoPunks v2 (and at first CryptoPunks v1) nonfungible tokens collections, posted on Discord Wednesday that he would “take proper actions” to address the alleged copyright violation “both of the CryptoPunks names” and “both the art” of the CryptoPunks V1 collection. Normally, this would indicate sending a takedown notice under the Digital Millenium Copyright Act (DMCA) to the platform that hosts the content for auction.

Larva Labs established the CryptoPunks NFT collection in 2017. Users quickly discovered a bug in the wise contract of the CryptoPunks v1 NFT collection that permitted purchasers to withdraw Ether (ETH) after purchase. Larva Labs immediately ruled the collection phony and released CryptoPunks V2 with a fixed supply 10,000 images.

The authenticity of the CryptoPunk v1 and V2 collections remains a matter of dispute for Blockchain lovers. Discord user Rufus Xavier # 9449 composed, “For example:

” Larva Labs, it is time to get your sh * t together. DMCA is not the proper way. Youre now doing it to your collection, after you have traded it. This is making the entire space appearance terrible. Stop.”

Discord user mb # 1510 nevertheless, revealed a divergent perspective

The supply of CryptoPunks was expected to be repaired at 10,000 products. Adding 10,000 more to the collection without acknowledging their legitimacy might cause brand name dilution and a reduction in the collections worth.
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” I do not know if it is possible to offer someone V2 when there are other tokens that may have importance.”

Larva Labs developed the CryptoPunks NFT collection in 2017. Users quickly discovered a bug in the wise contract of the CryptoPunks v1 NFT collection that enabled buyers to withdraw Ether (ETH) after purchase. Larva Labs immediately ruled the collection fake and released CryptoPunks V2 with a fixed supply 10,000 images. The CryptoPunks collection v1 had 12,069 Ethereum ($ 34.1 million) of overall volume traded via OpenSea. While the CryptoPunks collection v2 had 819,900 ETH ($ 2.22 trillion) of total volume traded through the same platform, at the time this short article was released.