Rapper turned avid NFT Collector Ja Rule shared a Derivative NFT work based on sold-out Lucha Libre KO (LLKO) NFT Collection on his Twitter account. The digital art portrays Ja Rule as a luchador (Mexican wrestler) complete with his signature bling.
Ja Rule’s NFT is honorary Member #001 of an LLKO-based series. LLKO is a collection of 10,000 unique fighters who are “ready to rumble” on the Ethereum blockchain. The narrative of the collection is that the badass luchadores are part of six academies. Then, they will represent these academies and enter the most brutal wrestling tournament.
The collection was completely sold out during the launch back on August 11 so it is ready to cross out milestones on the roadmap. Since NFT sales hit 100%, the team is focusing on game development. The team is allocating 30 ETH to complete the game and buy the NFTs off the floor. The game plan is to distribute them later on to the community.
Why does Ja Rule’s Thumbs Up Matter?
Ja Rule is a best-selling hitmaker and prominent rapper, singer, songwriter and actor. Apart from his musical career, he also dipped his toes in some controversial business ventures. Furthermore, he is also the co-founder of the Fyre Festival. Unfortunately, the event was a massive failure (verging on a scam) that inspired a Netflix and Hulu documentary. Billy Mcfarland, the organizer of the event even landed in prison for 6 years.
Since then, Ja Rule has moved on and has reinvented himself as an NFT Collector. His Twitter account doubles as an NFT gallery of his latest acquisitions. His vast collection includes OGs to new NFT projects. He is currently enamored with Rumble Kongs, sporting one of the Collection as his Twitter profile picture.
It looks like he plans to expand his NFT Collection as he enumerated a series of projects “he likes but does not own yet.” Yes, emphasis on the YET. The list includes chart-toppers like CryptoPunks, BAYC, Vogu, DeadHeads and VeeFriends. Ja Rule promotes, supports and above all, buys from NFT Drops so it’s safe to say he has charmed the community. This is why his seal of approval means a lot in the NFT Space.
Currently, he is promoting an app called ICONN, which aims to “revolutionize the way entertainers are presented, interacted with and booked. Viewing the app’s talent page finds that everyone from Childish Gambino and Migos to Cardi B and Big Boi is available for booking.
The importance of Derivate NFT Works
Firstly, let’s define what qualifies as a derivative work. To clarify, a derivative work is a work of authorship based on modifications or adaptations of a copyrightable work. The creation of derivative works is an exclusive right of the copyright owner or, in the case of NFTs, the NFT holder.
NFT Project Cool Cats has even released an official statement recognizing the importance of derivative work. Moreover, the team explained that it could further promote the project. However, they made it clear that they only support commissioned pieces because some people abuse them. They just produce a version of every NFT in the collection which is a clear IP violation.
The LLKO NFTs are available on the secondary market; you can check the listing on OpenSea.
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