Good afternoon DailyCoiners,Well, the markets have dipped a little over the last few days. Nothing to worry about; pullbacks are essential for a healthy uptrend. 📈

Shall we dive straight in?

Ok, let’s go!

• 🐋 BTC Whale Surfaces

• 🔨 Sotheby’s to Bring the Hammer Down on 3AC's NFT collection

• 🎵 AI in Hot Water Over Music Copyright

🐋 BTC Whale Surface After 9 Years at Sea

I love stories like this; mystery, intrigue, and just the right amount of admiration (mild envy!)

A Bitcoin wallet that has stayed dormant for more than nine years recently sent out 2,071.5 BTC (worth over $60 million).

The address received a total of 6,071.5 BTC on Dec 19th 2013, when the price of the Bitcoin was at a bargain price (with hindsight) of just $663!

Nice! 👍

According to on-chain analyst Lookonchain the mysterious whale surfaced from the depths today and immediately sent out over 2,000 BTC.

2071.5 BTC: Bought for $1.3 million; now worth $59.5 million.

Yummy! 🤤

However, that’s small fry compared to the Whale’s entire stack.

6071.5 BTC: Bought for a shade over $4 million; now worth $174.3 million.

No…I’m not envious at all!

🔨 Sotheby’s to Bring the Hammer Down on 3AC's NFT collection

Sotheby’s auction house says it will sell off the NFT collection of collapsed crypto hedge fund Three Arrows Capital.

Yesterday, Sotheby’s said it would auction off NFT artwork assembled as part of 3AC’s digital portfolio in 2021. 

The firm will begin the auction with sales of seven NFTs that are part of the “grails” collection in May, described as “some of the highest quality and rarest works,” according to Sotheby’s head of digital art, Michael Bouhanna.

Among the pieces being auctioned by Sotheby’s include:

• Zombie CryptoPunk #6649

• Autoglyph #187 from Larva Labs

• Dmitri Cherniak’s artwork “The Golden Goose”

Having just started to crawl our way out of a bear market bottom, this is probably not the best time to sell them. 🤦I suppose the creditors would rather have something than nothing, though.

🎵 AI in Hot Water Over Music Copyright

Hmm, this one has me in a quandary.Techy me thinks using AI to generate music is super cool, but the (very) amateur songwriter in me is grumpy that AI platforms are doing what I’d love to be able to do (but most definitely can’t).

TikTok creator Ghostwriter977 recently released an AI-generated song emulating the vocal styles of Drake and The Weeknd and has stirred up a copyright debate across the music industry. 

The track "Heart On My Sleeve" went viral with 275,000 YouTube plays and 625,000 Spotify plays before being removed.

Universal Music Group (UMG), demanded that all major music platforms remove the song, arguing that serving up the song constitutes copyright infringement.

They argued that while the music was AI-generated, a human had to instruct it in the first place, therefore, committing piracy! 🏴‍☠️

I think this is quite a gray area…How do you feel about it?

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