France’s top museum to display NFTs: Nifty Newsletter, Feb 8–14

cointelegraph.com:

In this week’s newsletter, read about how France’s top contemporary art museum will display nonfungible tokens (NFTs). Find out why a founder of the Bored Ape Yacht Club (BAYC) copycat project, RR/BAYC, is opposing trademark applications from Yuga Labs. Check out how NFTs based on Ethereum lost 60% of their market capitalization, and learn how Bitcoin (BTC) non-zero addresses surged because of Bitcoin NFTs. And don’t forget this week’s Nifty News, featuring American socialite Paris Hilton launching a dating metaverse called Parisland. 

The Centre Pompidou, the leading modern art museum in Paris, France, announced a permanent exhibition of NFTs. The museum will showcase NFTs from various global digital artists, including CryptoPunk #110 and Autoglyph #25.

According to Xavier Rey, director of the French National Museum of Modern Art, the center is pursuing its interest in digital art in connection with blockchain. Rey pointed out that the collection reaffirms their support for artists in “their conquest of new means of expression.”

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One of the founders of the copycat NFT collection, RR/BAYC, has opposed 10 trademark applications from Yuga Labs in a strange twist to the intellectual property dispute between the BAYC creators and RR/BAYC founders Jeremy Cahen and Ryder Ripps.

However, the Yuga Labs team seems to be unfazed by the efforts. In a mainstream media interview, a spokesperson from Yuga Labs said that the filing is simply an attempt to “distract” from the real issue.

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NFTs have not been immune to the effects of the crypto winter of 2022. A report from DappRadar surveyed 81 NFT collections based on the Ethereum network and showed a steep decline in overall market capitalization