NFT Collections of ‘Steamboat Willie’ Dominate OpenSea Charts, but Legal Limitations Arise

NFT collections featuring the version of Mickey Mouse depicted in the iconic 1928 film ‘Steamboat Willie’ have taken the crypto world by storm. On the popular NFT marketplace OpenSea, these collections have risen to the top of the charts, capturing the attention of collectors and enthusiasts alike. However, as the hype around these NFTs grows, legal limitations surrounding the use of the beloved character have also come to light.

Steamboat Willie NFT collections on OpenSea

Following the initial surge in popularity, several non-fungible token (NFT) collections related to ‘Steamboat Willie’ quickly appeared at the top of OpenSea’s 24-hour trending list. One standout collection, titled ‘Steamboat Willie Public Domain 2024’, garnered significant attention, boasting a 24-hour trading volume of around $1.2 million. This impressive trading volume further solidifies the growing demand for NFTs featuring the classic Disney character.

Limitations on the Use of Mickey Mouse

While the popularity of these ‘Steamboat Willie’ NFTs continues to soar, it is important to remember the legal limitations surrounding the use of the iconic Mickey Mouse character. Legal expert Oscar Franklin Tan reminds the crypto community that they cannot use the 1928 depiction of Mickey Mouse in a way that misleads others into thinking their work is affiliated with Disney.

In an interview with Cointelegraph, Tan highlights the prohibition on using the beloved character to create associations or endorsements that are not officially recognized. This means that individuals cannot exploit the 1928 depiction of Mickey Mouse to mislead others and profit from the character’s legacy. It is crucial to respect Disney’s intellectual property rights and maintain the integrity of the character.

Furthermore, Tan brings attention to the fact that the legal status of the 1928 depiction of Mickey Mouse varies across countries. In some jurisdictions, the depiction is considered part of the public domain, while in others, it remains under private ownership. This discrepancy emphasizes the need for creators to conduct thorough research and abide by the laws of their respective jurisdictions when using iconic characters like Mickey Mouse.

Predictions for Web3 and NFT trends in 2024

Looking ahead, industry professionals are contemplating the trends and challenges that await the world of Web3 and NFTs in 2024. Cointelegraph reached out to various Web3 experts to gather valuable insights into what lies ahead.

Jason Lau, the Chief Innovation Officer at OKX, a prominent crypto exchange, predicts the emergence of a new wave of Web3-enabled games. According to Lau, these games will introduce a broader range of gamers to the functionality and possibilities of NFTs. As gaming and blockchain technologies converge, users will be exposed to innovative ways of utilizing NFTs, further expanding the adoption and application of this technology.

Former President Trump’s Crypto Activity

In a surprising turn of events, it has been reported that a crypto wallet associated with former United States President Donald Trump transferred approximately $2.4 million in Ether (ETH) to the popular crypto exchange Coinbase. It has been revealed that Trump’s earnings from his NFT collections, including one featuring a mugshot captured when he surrendered to authorities in Georgia in August 2023, contributed to this substantial transaction.

The involvement of prominent figures like Trump in the crypto space adds further mainstream attention to the growing influence of NFTs. It highlights the potential for individuals from various backgrounds to leverage NFTs as an additional revenue stream and assert their presence in the digital asset ecosystem.

Despite the dominance of ‘Steamboat Willie’ NFT collections on OpenSea and the excitement surrounding them, it is crucial for creators to understand and respect the legal limitations associated with iconic characters like Mickey Mouse. As the NFT space continues to evolve, the industry must navigate the intersection of intellectual property rights and blockchain technology responsibly. Looking ahead to 2024, the emergence of Web3-enabled games and the unexpected involvement of figures like former President Trump further illustrate the potential impact and growth of NFTs in the coming years.

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