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• RARE PEPE THE FROGS FULL

You can read the lawsuit in full here.ĭoes Thayer have a case? Let’s look at what happened.

The DAO released 46 more copies of the NFT to the wallets after Thayer’s winning bid had been accepted. Thayer is now suing PegzDAO for over $500,000, claiming that PegzDAO purposely misled the community and were directly responsible for the value of the NFT plummeting. However, what happens next is where the story gets strange. Given that this was a verified Matt Furie Pepe, the price alone is not out of the ordinary. A lot of money by anyone’s standards, but we have seen NFTs go for a lot more. The auction received a lot of interest, and NFT collector Halston Thayer had the winning bid at 150 ETH (around $537,084). Collectors could have been forgiven for putting faith in the PegzDAO collection after Furie’s DMCA notice against plagiarised content. This showcased the intellectual property rights for Pepe were to be acknowledged by the NFT community and verified the authenticity of the PegzDAO collection. For context, Furie previously had another NFT collection, the Sad Frogs District, taken down from OpenSea for copyright infringement. Aside from 1 NFT that was to be put on auction, the DAO minted an additional 99 NFTs to be held in their treasury. In October 2021, Furie founded a DAO called PegzDAO to release an exclusive Pepe NFT entitled “ FEELSGOODMAN Series 20, Card 50” via auction. However, six months later, the father of modern memes may have just set fire to the whole digital collectable industry. Matt Furie, the creator of Pepe The Frog, joined the crypto world last year as he released the following image as an exclusive NFT.