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If You’re Married In A No-Fault Divorce State, Your NFTs Might Be At Stake

Are you an NFT collector married in a ‘no-fault’ divorce state? If so, your precious collection might be included in the 50/50 marital property process. In fact, many NFT holders already had 50% of their digital assets taken away by their spouses.

Collectors married in one of the 17 no-fault divorce US states might lose half of their NFT portfolios. Credit: FreePik

What happens to your NFTs if you’re married in a ‘no-fault’ divorce state?

Recently, more and more NFT collectors have been sharing their divorce stories on Twitter – and for good reason. Accordingly, those who got married in a ‘no-fault’ divorce US state must share their NFT portfolio with their soon-to-be ex-spouses too.

For example, Bored Ape collector @StonedBrody lives in Wisconsin – one of the 17 no-fault divorce states in the US. This week, Brody was allegedly forced “by a temporary order hearing” to transfer part of his NFTs to a wallet managed by his wife.

In other words, he might lose half of his NFT portfolio, including blue-chip collectibles.

“Value determination when time comes is going to be a nightmare, but has also allowed for delays on my end to this point. Any disagreement by my wife and I will result in court ordered liquidation,” Brody wrote in a tweet.

Surprisingly, the same happened to MAYC holder @hodlland. The collector replied to Brody’s message saying he lost 50% of his NFTs after his divorce.

BAYC collector Brody shared his NFT-related divorce issue via social media. Credit: Twitter

How can NFT holders keep their assets?

According to @hodlland, the only way to keep NFTs safe is to “get a prenup”. Otherwise, any NFT wallet created during marriage can be subject to division in a no-fault divorce state.

After all, the term “NFT” is more commonly heard in courts than ever before. The New York Court is even serving court notices as NFTs as of this summer – and our post covers all of the details!

The post If You’re Married In A No-Fault Divorce State, Your NFTs Might Be At Stake appeared first on NFT Evening.

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HUGO Partners With Imaginary Ones In An NFT Fashion First

The global fashion giant ‘HUGO’ is partnering with Imaginary Ones — a top Web3 company, to launch an exclusive NFT collection. Moreover, it is HUGO’s first big step in the NFT space as it will deliver a 360-degree metaverse experience. 

What is the HUGO and Imaginary One’s NFT collection?

Previously in April, Imaginary Ones dropped its NFT collection with over 8,888 fully animated 3-D characters. Through the project, they aimed to spread positivity, creativity and love. Next, let’s see the details of HUGO and Imaginary One’s NFT collection.

What Is HUGO And Imaginary One’s Fashion NFT Collection?

By November, HUGO and Imaginary One will drop an NFT collection of 1,001 3D animations titled ‘Embrace Your Emotions’ (EYE). Remarkably, they aim to encourage people to connect to their emotions. And to emphasise that all feelings — positive and negative are valid — to improve mental health and overall well-being.

Who can have access to HUGO x Imaginary Ones NFT Project?

Although the collection isn’t out yet, there is already so much excitement. For instance, those who want access to the NFT collection must first join the allowlist, which means they are to perform a small task. 

Out of 1000 allowlist spots, 500 go to customers who buy an exclusive phygital t-shirt. In comparison, the remaining 500 slots go to existing Imaginary Ones holders and giveaway participants. Only 500 limited edition t-shirts with a QR code are for sale. And with the QR code, users can enjoy special augmented reality effects through a Snapchat Lens.

Furthermore, six of the 1,001 NFT characters contain special attributes, while five of them will represent everyday emotions. These include joy, sadness, fear, anger, and love. Another key point is that the upcoming NFT project will benefit a charitable cause to mark World Mental Health Day on October 10. The brands plan to donate 100% of earnings from the auction of a sixth special character that combines all five emotions to Youth Aware of Mental Health (YAM).

More On The Collaboration Of HUGO And Imaginary Ones

On the one hand, Miah Sullivan — Senior VP of Global Marketing & Brand Communications at HUGO, said that they are excited to partner with Imaginary Ones. Not only to explore the metaverse world but also to share a message of self-acceptance worldwide. 

On the other hand, Clement Chia — Co-Founder at Imaginary One, showed excitement as Imaginary Ones became the first Asia-born NFT project to partner with a multinational fashion brand. 

For the partnership, every HUGO x Imaginary Ones NFT holder will receive a “golden ticket” for a 10% discount at HUGO’s online store. Also, they will have access to Imaginary Ones’ staking ecosystem, making them eligible for HUGO x IO merchandise, experiences, and content. 

As time goes on, HUGO and Imaginary Ones will likely strengthen their partnership through different means. So as to increase the value provided to the holders of their collection. Additionally, you can get updates on the NFT collection on the discord channel.

What is HUGO?

About HUGO 

HUGO is a multinational fashion brand and one of the counterparts of the famous HUGO BOSS brands founded in 1924. HUGO aims to encourage the self-expression and authentic dressing of its customers. In addition, HUGO creates clothes for leaders to promote individuality and ‘boundless styling’. Today, HUGO is one of the few top fashion brands that has moved into the Web3 space. In fact, HUGO announced its entry into the NFT space a few days after the arrival of the Balmain NFT membership club for Paris fashion week.

The post HUGO Partners With Imaginary Ones In An NFT Fashion First appeared first on NFT Evening.

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Yuga Labs Starts Its First Community Council For BAYC and MAYC

Yuga Labs has just announced it is starting its first community council for BAYC and MAYC. The community council consists of seven long-standing community members that have a proven track record of supporting the collection, and other NFT holders, and have been trusted advisors to Yuga Labs.

BAYC, meet your new council members!

About the BAYC and MAYC Council

According to the official blog, the BAYC Council was formed with the intention of representing the community at large. Plus, it serves as a channel through which community members can express their ideas. The seven council members are Josh Ong, Sera, Laura Rod, 0xEthan, 0xWave, Negi and Peter Fang.

The BAYC council will initially be focused on receiving direct feedback from the community. Council members will be elevating the community by bringing their various skill sets to the table. Furthermore, the council members will be able to nominate three community projects a month to receive a startup grant from Yuga Labs. BAYC and MAYC communities will then vote on which project gets a 10 ETH (~$15K) grant each month.

According to Yuga Labs, plans are in place to potentially create something similar to the BAYC council for other Yuga projects. These include popular NFT communities like CryptoPunks, Otherside and Meebits.

About Yuga Labs

Founded in February 2021, Yuga Labs is a company best known for creating Bored Ape Yacht Club. From then on, the company went from strength to strength. It launched spinoffs of BAYC, namely, Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC). Additionally, it gained enough prominence in the NFT community to acquire CryptoPunks and Meebits, and launch Otherside. The launch of the BAYC council signifies Yuga Labs’ growing influence, not only in the Web3 space, but pop culture at large.

The post Yuga Labs Starts Its First Community Council For BAYC and MAYC appeared first on NFT Evening.

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DeGods: The Utimate Guide To Y00ts, $DUST and more

DeGod has established itself as one of Solana’s top blue-chip NFT collections. The collection and community, which describes itself as a “deflationary collection of degenerates, punks, and misfits”, is still riding high after being launched in 2021. Therefore, if you are interested in investing in colourful, virtual gods, here is an in-depth guide to get you started.

An artistic representation of the DeGods ecosystem.

What is DeGods?

DeGods is a Solana-based deflationary collection that consists of 10,000 virtual and super colourful gods. The mastermind behind this popular NFT project is an individual known as “Frank.” It appeared on Twitter in March 2021, with the unique selling point of being a deflationary NFT. By September 2021, DeGods was already very popular, with artists, developers and athletes supporting the project.

Solympus was launched in September, with its first members required to complete projects that granted them early access to the NFTs. After several months of intense hype – which included a video of a man jumping from a plane in a DeGods costume – staking went live in January 2022. It is safe to say that the popularity of the collection was solidified when, after one day, more than half of its supply was staked.

What are the benefits of holding DeGods NFTs?

In addition to being a highly sought-after NFT, holding a DeGods NFT has several perks. First off, the DeGods NFTs are deflationary. This means that, due to the fact that you can burn the NFTs, their value will continue increasing. When a holder burns their DeGod, it automatically upgrades to a DeadGod, increasing its value.

Additionally, you can stake your DeGods NFT to earn $DUST – the collection’s native taken. $DUST enables you to participate in raffles, upgrades, auctions and more. If you burn your NFT in favour of a DeadGod, you will also earn more $DUST. This is because DeadGods give holders a daily stream of 7.5 $DUST.

DeGods holders also gain access to the community-owned content platform, Here, holders can publish their own content and reach out to other holders. Last but not least, in April 2022, DeGods purchased the basketball team Killer 3s, which forms part of Ice Cube’s Big3 League, for $625,000. Holders have full IP and licensing rights for anything team-related. Furthermore, this launch gave holders the opportunity to mint part of 975 killer 3’s Gold-tier NFTs for $5,000 apiece. Unquestionably, this purchase is but one of the many things the DeGods team has in store for holders.

This DeGod NFT sold for over $220K.

How do you buy DeGods NFTs?

DeGods are available on Magic Eden, Alpha Art, Solanart and OpenSea. After purchase, you can join the official Discord channel, where you can connect with other members and verify your assets. Before purchasing an NFT, you can check its rarity using the Official Rarity Tool and Sniping Tool.

What are DeadGods?

You can mutate your DeGods and transform them into DeadGods for 1000 $DUST. During the mutation process, you will be changing the NFTs metadata, to reflect the one-of-one swaps for DeadGod traits. By burning your DeGod, you will be removing it from circulation, increasing its rarity and benefitting the entire community.

What is DUST token?

$DUST is the DeGods collection’s official token on the Solana blockchain. It can only be minted by staking or burning a DeGods NFT. The total supply of $DUST is capped at 33,300,000 tokens, with halvening events taking place at supply milestones. To earn $DUST, you can mine 2.5 DUST per day per DeGod and 7.5 DUST per day per DeadGod. There is no other way of earning $DUST. In the future, there will be new collections that can only be purchased using $DUST.

What is DeDAO?

DeDAO is a unique aspect of the DeGods ecosystem. The community leaders and founders of DeDAO are the members of the DeDAO, who serve as the primary decision-makers.

Community leaders and NFT experts – the DeAlpha Team – are the ones that navigate the collection’s place in the market and make decisions. There are also elected members – called the Divine Council – who also have a say when it comes to acquisitions and allocating funds. Finally, the Divine Council of DeDAO and Community Leaders of DeGods are together called DAO Leads.

DeDAO is sustained via the marketplace fee of 9.99% for each transaction. Of that amount, 6.66% goes to DeDAO and 3.33% to the Core Team for DeGods and DeadGods sales. The DeDAO then uses these funds to acquire assets for auctions and raffles, fund community events and pay community-based talents for any work done for the community.

What we know so far about the y00ts visual style.

What is y00ts?

Y00ts is a brand new NFT collection from the DeGods team. It will consist of 15,000 NFTs that allow users to make their own PFPs. The collection revolves around a sheep avatar, with layers of metadata that give each NFT its unique characteristic.

According to the y00ts paper, “Each collection would have its own ⓨ registry, where it’s easy to track who’s approved to be using the NFT’s IP. This allows projects to approve & reject usage requests at Web3 speed.” To mint a y00ts NFT, interested individuals had to apply for a scholarship to get on the y00tlist – the y00ts version of a presale list. The collection was set to launch at the end of September 2022. However, the launch was delayed and there is no official launch date yet.

Final notes

The NFT market is volatile. However, the fact that the DeGods collection maintained its high price and value is a good indication of its longevity. It is always recommended that you do your own research before investing in any collection.

The post DeGods: The Utimate Guide To Y00ts, $DUST and more appeared first on NFT Evening.

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