- A week ago, Cardano (ADA) founder Charles Hoskinson praised NFTs for having many use cases.
- NFTs play an important role in Cardano’s upgraded Ecosystem despite the market plunge in mid-2022.
- Hoskinson claims he paid the NFT artists “in exposure” and “historical association.”
Mr. Charles Hoskinson, the rowdy founder of Cardano (ADA) blockchain and CEO of the London headquartered blockchain tech company IOG, changed his Twitter profile picture to an NFT drawing of his portrait. However, the change was not to a usual pre-owned NFT avatar but rather a right-click saved .jpeg picture of someone else’s NFT.
Charles Hoskinson Pays Artists in Exposure
Despite the ongoing battle around NFT artists’ royalties, the Cardano founder reassured worried crypto enthusiasts that he’s “paying artists in exposure.” Additionally, Mr. Huskinson explained that “the artist and NFT owner don’t mind because it increased the value of their work and product having the historical association with me.”
However, the bold move wasn’t left unnoticed, as some crypto enthusiasts were offended by the irresponsible stance of the founder of one of the largest blockchain companies. For instance, graphic designer T-Rex complained that Mr. Huskinson’s old-school way of changing profile pictures is “not the right stance to take at all. Let’s face it, you could probably change the owners’ life by actually buying and owning the NFT?”
Sorry Charles, this isn't the right stance to take at all. Let's face it, you could probably change the owners' life by actually buying and owning the NFT?— T-Rex (@t_rex____) January 3, 2023
Next time you produce something you'd expect to charge for, and make your livelihood from—I'll just copy and paste it?
Cardano NFTs Keep a Steady Record
On the other hand, NFTs on Cardano (ADA) blockchain have been doing relatively well compared to the overall NFT market slump of 2022. To illustrate, ClayMates By Clay Nation NFT collection surged 61.9% in sales over the last 30 days. With $461,731 in monthly sales and an average hold extended by 55.2%, the most successful NFT collection on the ADA blockchain is back in the spotlight.
This comes just a few weeks after iconic rapper Snoop Dogg and his son Champ Medici released their first music video for ClayMates NFT. The song comes from an EP dedicated to crypto, which can also be purchased as an NFT. On top of that, Charles ‘Crypto Cowboy’ Hoskinson is featured in the clip on a private jet on the way to his fancy ranch in Wyoming.
On the Flipside
- Despite the immense backlash from NFT enthusiasts, the owners of the NFT avatar granted permission for Mr. Hoskinson to use the saved image.
Why You Should Care
ADA is the 9th largest blockchain in the current crypto space. Founder Charles Hoskinson left Ethereum (ETH) to build his own blockchain, which is highly focused on scalability, research, and Web3 development, including the NFT market.
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