- An NFT collection with a similar aesthetic to BAYC is minted on JPG Store.
- The collection prompts the community to question JPG Store’s policies.
- JPG Store assures the community that it is expanding moderation tools.
Founder Charles Hoskinson praises the Cardano non-fungible token (CNFT) ecosystem as the “most vibrant” part of the network.
The NFT marketplace JPG Store is now criticized regarding an NFT project titled Bored Ape Cardano Club (BACC). The NFT collection is minted on JPG Store, and its aesthetic quality makes community members question the marketplace’s rulebook.
Some community members are summoning the powers of decentralization to justify the speculated trademark infringement. Others say JPG Store should have better oversight of NFTs minted on the marketplace.
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One member opines that JPG Store should ban such projects from their platform, although it might be a “centralized approach.”
Cardano Apes vs. Ethereum Apes
The Cardano community takes to Crypto Twitter yet again in another lengthy conversation after the BACC piqued the interest of Kongsy NFT.
According to Kongsy NFT, the BACC is “definitely trademark infringement” on the Bored Ape Yacht Club (BAYC) NFT collection on Ethereum (ETH). Kongsy further questions JPG Store’s policies around NFT minting on the platform, asking if they allow the use of trademarked logos.
The author later says that despite ‘decentralization,’ they strongly believe that JPG Store “should ban copy-cat projects from their platform.” However, this course of action “might be a centralized approach,” according to Kongsy.
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The tweets have thus far accumulated over 32 thousand views, giving the Cardano community an entryway into this conversation.
JPG Store Responds
On March 20th, 2023, JPG Store responded to a conversation in the community. The marketplace shares that their “minting tool is a self-service platform,” allowing creators a footing onto the Cardano blockchain.
JPG Store says projects using its minting tool are not on the launchpad, and the platform does not endorse them in any way.
JPG Store reiterates its confidence in Cardano and will “continue to support decentralization.” According to JPG Store, this “company-wide resolve” is shared by collectors and creators, leading to the development of moderation tools.
According to the NFT marketplace, the “dangers” of evolving the ecosystem will match its growth. Therefore, JPG Store will expand its moderation tools to “cover the new minting platform.”
Minting calendars and minting pages will also add “reported tags” to inform NFT buyers of abnormalities. The conclusion appears to sit in a middle ground between centralization and decentralization, yet the community remains displeased.
Following many discussions, Cardano’s native cryptocurrency is entering a slight upward trajectory on the 24-hour chart. At the time of writing, ADA is trading at $0.35, recording a 5.64% increase from its daily low of $0.33.
On the Flipside
- JPG Store has not removed the BACC NFT collection from the marketplace.
- Some members note a possibility that BACC and BAYC have the same owner.
- CNFT Sales Volumes are declining 4.63% on the 24-hour chart.
Why You Should Care
Cardano’s NFT ecosystem is paving its way toward entering the top five blockchains by all-time NFT sales. As community criticism is a natural part of Web3 evolution, JPG Store uses it as a tool to build.
Read more about the inner workings of the Cardano network:
Cardano (ADA): What Is It, and How Does It Work?
Get the latest news on the Solana (SOL) ecosystem:
Solana (SOL) Rockets 14% Following Community & YTD Growth
