A warning to all ENS holders...

Hey, welcome to another issue of NFToday!

Happy 4th of July to my U.S. subs, have fun today, and stay safe as always!

Aside from the holiday, I have some exciting news.

I just purchased NFToday.xyz from a domain broker online! I've been looking into acquiring it for some time and finally decided to pull the plug!

I've got big visions for NFToday, and a prime xyz domain will help tie that all together.

Now, on to the news...

- Hunter Maier

💻 Web3 Cybersquatting?

📉 C'mon do something...

⛓️ Rugpull = 40 year sentence!

After purchasing my new NFToday domain, it really got me thinking about Cybersquatting and how problematic it used to be back in the web2 days.

For those unaware, Cybersquatting is the act of registering a domain that's very clearly in violation of trademark laws. Some examples may include:

• yugalabs.net

• coinbased.com

• metamask.xyz

If you couldn't tell, each of the domains listed above have very slight/unnoticeable variations that set them apart from their real counterparts.

Back in the web2 days, people would purchase these domains with the intent of selling them to the originating trademark owners in hopes of becoming RICH.

Yet, due to the fact that web2 is centralized, trademark owners could easily file for infringement, getting that domain removed through ICANN (Internet Corporation for Assigned Names and Numbers).

This begs the question, could the regulatory protection against Cybersquatting be enacted through the decentralized version of the internet we know and love?

The short answer: nope!

Using ENS as the prominent example, trademark owners have some authority, yet very little regarding getting the ENS domain "removed."

For example, say I became the new owner of boardape.eth, and as a result, Yuga Labs didn't like that.

While Yuga Labs may own the trademark to submit an infringement claim, the closest form of regulatory control would be submitting a case through a marketplace like OpenSea to get the listing removed.

I, the owner, would then get a takedown notice prompting me to speak with Yuga Labs on the matter. Assuming my address wasn't verified/linked anywhere online, I'd be off the hook due to the beautiful power of decentralization!

I said this once this week, and I'll say it again, Bitcoin and Ethereum are virtually indistinguishable (charts/candles-wise).

Alongside a majority of cryptos within the space, Bitcoin is propped up at a significant level.

While we await a new volume spike, I'm praying for a double bounce of this level.

Nevertheless, whether we go up or down, patience is (and always will be) key!

Yeah, me either...

Baller Apes Club was the latest NFT collection to rug its minters, netting the founder an astounding $2.6M. Following the rug, the founder attempted to launder the funds only through a strategy known to crypto thieves as "chain-hopping."

Good news?

The US Department of Justice did their homework! Le Anh Traun was revealed to be the culprit behind it all and is now facing up to 40 years in jail.

A nice wholesome story to end the newsletter!

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My Twitter: https://twitter.com/NFTpublisher

• 👍 IT WAS INCREDIBLE!!!

• 😐 It was alright!

• 👎 Could've been better.

Nothing mentioned above is financial advice, this newsletter is created for nothing more than entertainment purposes!