Instagram’s NFT feature, Wall Street’s Fearless Girl, $1.4 million sale: Web3 news, May 9

Instagram’s NFT feature, Wall Street’s Fearless Girl, $1.4 million sale and more – today’s major headlines in the Web 3 world.

Instagram to let some users try NFTs as profile pictures this week

It’s finally happening: Meta-owned Instagram is rolling out a test trial this week to let some users post nonfungible tokens (NFTs) as profile pics. Owners of NFTs will be able to use them having linked their digital wallets but won’t have to pay any fees.

Image: Courtesy of Meta


Over the weekend, reports indicated that Instagram will support NFTs built on Ethereum, Solana, Polygon and Flow blockchains. The company also announced that the wallets that will be compatible with the users’ accounts are MetaMask, Trust Wallet, Coinbase, Phantom, Rainbow and Dapper.

Otherdeed NFT by Yuga Labs sold for a record $1.46 million

Who said NFTs sales are plummeting? This NFT purchase proved the skeptics wrong. Very wrong.

Yuga Labs’ Otherdeed #59906 was sold by a user called “brickandmorty.eth” to n0b0dy.eth, an NFT collector, for 625 ETH ($1,460,000 at the time of writing) over the weekend.

Image: Courtesy of X2Y2


The Otherdeed #59906 digital land NFTs is a part of the Yuga Labs’ Otherside metaverse and is the eighth rarest virtual land piece revealed in April.

NFTs are recognized as property by UK High Court in ongoing Boss Beauties Theft Case

In a major win for NFT collectors and enthusiasts, the UK’s High Court recognized the two involved  in a Boss Beauties NFT Theft Case as properties.

The Boss Beauties NFT Theft Case is built on Lavinia Osbourne’s, the founder of Women in Blockchain Talks, allegations claiming two images from the collection were stolen from her digital wallet in March.

Image: Courtesy of boss beauties Instagram


The judge ruled in favor of recognizing the stolen digital artwork “property” and thus entitled to legal protection, setting the first-ever precedent of this kind.

The ‘Fearless Girl’ statue on Wall Street becomes NFT

Kristen Visbal, the creator of the Fearless Girl statue placed in front of the famous Wall Street bull, has announced it is debuting as an NFT on May 10.

Image: Courtesy of Kristen Visbal’s Twitter


Created in partnership with a digital art house, the NFT collection will have both physical and digital utility.

“Fearless Girl symbolizes the call for gender equality in the workplace and is seen by millions each day. Now that she’s entering the virtual world, women across the country and worldwide can carry their own fearless girl with them each day,” shared Visbal.


More posts


NFTs need a rebranding—and a decoupling

On MSNBC’s “Morning Joe,” branding expert Donny Deutsch gives NFTs a “brand down” assessment. Here’s why NFTs need a rebrand and a decoupling from cryptocurrencies.


What makes a work of art transformative?

What makes a work of art transformative and considered fair use under US copyright law? IP attorney Lance Koonce lays out the four factors that constitute fair use under copyright law precedents.



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