The RIAA argues in a letter that some Ethereum Name Service (ENS) domains on the OpenSea marketplace contain names that are references to the registered association and its members.
89 domains removed by Opensea
The selling of the illegal domain names, according to the RIAA, results in “a dilution, confusion, and/or degradation” of the marks.
The selling of such domains, he continued, is illegal under cybersquatting regulations, common law publicity rights, and unfair business practices.
OpenSea has now withdrawn the infringing ENS domain names from their non-fungible token marketplace.
A total of 89 domain names are listed in the letter, including those for Universal Music Group, Atlantic Records, Capitol Records, Warner Music Group, Parlophone Records, and Virgin Records.
The leading NFT marketplace deleted many music-themed Ethereum Name Service (ENS) domain auctions the same week that OpenSea cut 20 percent of its personnel after getting a stop and the Recording Industry Association of America has issued a notification (RIAA).
Though not all of the domain names include trademarked information, the letter claimed that a number of ENS auctions hosted by OpenSea violated US trademark law.
Following the centralized NFT (non-fungible token) exchange’s tradition of upholding copyright concerns, OpenSea adhered to the letter of the law.
ENS domains, which finish in “.eth,” act as distinctive website addresses. ENS domains can be used to access webpages housed on decentralized storage platform IPFS, much as how the internet’s Domain Name Service substitutes IP addresses with strings of characters.
Users may get bitcoin through their domains by substituting complex Ethereum blockchain addresses. NFTs, which signify ownership and permit trade on markets like OpenSea, may transfer ENS domain registrations.
The 1999 Anti Cyber-Squatting Consumer Protection Act is one of the laws that is allegedly violated by a number of eth domains, according to the RIAA’s letter, which was published online by TorrentFreak.
The construction of web domains incorporating trademarks with “bad faith purpose to profit” is banned by law.
Due to the state of the market, OpenSea is already struggling. OpenSea cut 20% of its workforce yesterday, blaming “crypto cold and widespread financial instability.”
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2022/07/17/89-ens-domain-names-have-now-been-withdrawn-by-opensea-from-marketplace/