Seth Green’s NFT Woes Put New Animated Series In Jeopardy

Producer and actor Seth Green fell prey to a phishing scheme that is causing everyone nightmares. Green lost quite a few NFTs, but the developments also put a halt to his plans for an animated series that was based upon characters from Green’s NFT collection.

Show plans are a hit

The actor and producer were both victims of a phishing scam that resulted in the theft of valuable NFTs. This also put at risk plans for his animated series. The producer had a large NFT collection that was used to create the new show. Hacking scams like these are becoming more commonplace in the industry.

Green teased a little bit about White Horse Tavern at VeeCon, the NFT conference. The show’s concept is based upon the question “What if your friendly neighborhood Bartender was Bored Ape Yacht Club #8398?” Green explained more about the show and the concept during an interview with Gary Vaynerchuk. He stated that he wanted to create a world where your appearance wouldn’t matter, and only your attitude would.

The Attack on Green’s NFTs

On the 8th May, four of Green’s NFTs disappeared in a phishing attack. Green shared details of the attack via Twitter. He announced to his followers that he had lost a Bored Ape NFT and two Mutant Ape NFTs. After interacting with phishing sites, the NFTs were taken from Green’s wallet.

“Well, friends. It happened to me. I was phished and 4NFT was stolen. @[email protected] @[email protected] Please don’t trade or buy these while I resolve the problem: @DarkWing84 Looks like you purchased my stolen ape – get in touch so we can fix it.

The fraudster sold Green’s Bored Ape NFT to a pseudoanonymous person going by DarkWings84, who purchased the NFT for more than $200,000. The NFT was purchased and transferred to the “GBE_Vault” collection, where it remains today.

Tricky Copyright Laws

Green’s plans went awry when a fraudster stole the NFT collection in May. This resulted Green losing commercial rights for the show’s protagonist Fred Simian (the rights and likeness of whom belong to someone else). Green expressed concern about the situation and said,

“I purchased that ape in August 2021 and have spent several months developing and exploiting its IP to make it the star of this series. He was literally kidnapped days before his world debut — his name is Fred.

Daniel Dubin, a tax- and litigation attorney at Alston & Bird LLP says that the current owner could make it difficult for Green, if he so chooses. NFT copyright laws can be complicated, and they have just been approved by the courts. NFT projects are increasingly granting rights to their owners to commercially adapt their works. This has been a great way to increase brand visibility and have led to bitter legal disputes. Bored Ape Yacht Club was not the first to adopt these terms.

Buyers Get Green

Green has tried to reach out to the Bored Ape NFT’s new owner by tweeting @DarkWing84. He also appealed that they “work it out together.” Green supporters have also sent messages to the user, asking them to get in touch with Green. It is unclear if the user knew the NFT they purchased was stolen.

OpenSea also confirmed that it had frozen the tokens as it did on other occasions. The NFTs stolen by OpenSea have been marked with warnings about “suspicious activities”. OpenSea spokesperson stated that

“We don’t have the power or the capability to delist or freeze NFTs on decentralized blockchains. However, we disable the ability of OpenSea users to buy or steal items.”

OpenSea is also under fire and faces lawsuits from NFT owners who lost their Bored Ape NFTs in similar phishing scams.

Disclaimer: This article is intended for informational purposes only. This article is not intended to be used for legal, tax, investment or financial advice.

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https://cryptodaily.co.uk/2022/05/seth-green-s-nft-woes-put-new-animated-series-in-jeopardy