CryptoPunks v1 Faces Legal Issues and Gets Delisted From OpenSea

Due to a legal issue with Larva Labs, OpenSea, the world’s largest NFT marketplace, has delisted CryptoPunks V1. The 10K collectibles are derived from the same smart contract as Larva Labs’ collection and are very similar to the legendary CryptoPunks NFTs. V1 CryptoPunks was blacklisted by Larva Labs as more collectors flocked to the project. OpenSea controversially delisted the whole collection, and the community is outraged. While it is still unclear whether CryptoPunks V1 is what it claims to be legal, many members of the community appear to have already made up their minds. The History Goes Long Back For a long period, OpenSea had the CryptoPunks v1 series removed. The series, on the other hand, has only recently premiered on sites like LooksRare. The original ban was revoked by OpenSea as a result of this gaining recognition. The entire volume of the wrapped CryptoPunks v1 series had hit 315.44 ETH ($974,000) and was still operating at the time of writing. Since its publication alongside the more popular CryptoPunks v2 collection, some have questioned the veracity of CryptoPunks v1. However, as whales boosted volume on LooksRare and other rival sites, CryptoPunks v1 has gained traction in recent weeks. OpenSea’s attempt to overcome the prohibition appears to have backfired amid the present court battle, adding to a string of occurrences that have recently eclipsed the primary NFT marketplace.The debate over the authentici...