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Whitney Houston’s Never-Before-Heard Demo is Now Available as NFT

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This December, the estate of Whitney Houston plans to sell a demo recorded by then 17-year-old Whitney Houston, minted as a NFT on the OneOf sales platform. The-never-before-heard-track will be unveiled on December 1st during Miami Art week (held from November 29 to December 5, 2021).
According to OneOf’s press release, the “Whitney Houston OneOf Collection” being auctioned will include “thousands of affordable, fixed-price NFTs”, including video artworks designed around two of the biggest hits throughout Houston’s career: “The Greatest Love of All” and “I Will Always Love You”. NFTs containing archival photos from Houston’s early life are also among the collection. As to the never-before-released demo which is perhaps the most attractive collectible for Houston’s fans, details are yet to be released, but is rumored to be bundled with photos and video artworks.
While the rarely-seen contents in these “Whitney Houston collectibles” are exciting for Houston’s fans, the legal landscape remains vague, and as we saw with the recent complaint Miramax brought against Quentin Tarantino, these NFTs are giving rise to lawsuits in connection with the ownership of the rights underlying the contents in those NFTs. For instance, the copyright ownership of a recording can be allocated to several people and/or entities at the same time, and if one probes into the copyright ownership underlying Houston’s recording of “I will Always Love You”, he or she would discover that the recording may implicate the copyrights of the following parties, including but not limited to:
(a) Dolly Parton, who is the original writer and composer of the song, is entitled to receive royalties whenever the song is performed;
(b) the record label, by which Houston was retained to perform the song, would have the sound recording copyright; and/or
(c) BMI, which, as the performing rights organization that acquired rights from copyright owners (i.e., Dolly Parton and/or the record label that produces the recording), would collect license fees from the users of BMI and distribute the fees (excluding necessary operating expenses) to the owner.
In addition, Houston’s estate might also be entitled to receive “digital performance royalties” from non-interactive digital streaming services (such as Pandora) because Houston was the performer of the recording under applicable laws. Accordingly, to mint a NFT containing Houston’s recording would give rise to certain considerations as such use of the recording might require prior consent or license or might result in statutory-imposed obligations of paying royalties.
Considering the above, it will be interesting to see how this project plays out, and whether the intertwined rights underlying these NFTs will lead to any disputes among the parties.

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FASB Excludes NFTs, Some Stablecoins From Crypto Accounting Project – The Wall Street Journal

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Michael Saylor can't stop: MicroStrategy now holds 130,000 Bitcoin – Cointelegraph

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MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851, the company’s executive chairman announced on Twitter.
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 
In sum, the company is one of the planet’s largest holders of the asset, owning 130,000 BTC. Apparently, Saylor likes round numbers, buying 301 BTC to reach the 130,000 milestone. 
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. MicroStrategy’s entry price is roughly $30,639 per BTC, and the Securities and Exchange Commission filing states that the firm has bought 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington, DC has taken aim at the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to commend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has garnered both a devout following and numerous critics.
Related: Bitcoin better than physical property for regular folks, says Michael Saylor
Other large wallet addresses include that of crypto exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wallet that holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin. Regarding individuals, Saylor has stated that he holds Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers” — a meme that became popular jargon for holding crypto.

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NFT Collections Will Be Regulated Like Cryptocurrencies Under EU’s MiCA Law, Official Says – CoinDesk

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