Some four randos made an NFT platform that scraped up every song on Spotify (including music from big wigs like Disney, Nintendo, Marvel, and John Lennon) and turned it into an NFT without the original artists' permission, promising that buying the NFT will magically give a piece of the profits to the original creators
within 48hrs of news about this coming to light, entire PROs and distributors have gone bugfuck insane, have used their connections to stop the website being hosted on AWS, and are sending their lawyers in by parachute to sue the absolute living shit out of the people who tried to pull this scam off.
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this completely ravaged any possible positive NFT sentiment from musicians.
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the guys running that platform (who put their identities on the open on LinkedIn) responded with absolute out-of-touch posts on Twitter, acting like all of this is perfectly normal, they are getting carpet ratios.
https://mashable.com/article/hitpiece-nft-music
https://web.archive.org/web/20220202041329/https://mashable.com/article/hitpiece-nft-music
PS: you can repost this on KiA1 on Reddit I can read there but I won't post on Reddit.
I don't know who's dumber, the people behind this shit thinking it would work without them having an army of lawyers crawling up their asses or anyone that bought one of these thinking it was going to pay off