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    PENGU token loses 20% in August amid Pudgy Party game launch

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

    What’s Behind the Double-Digit Declines?

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    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    PENGU token loses 20% in August amid Pudgy Party game launch

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

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    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

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    Climb the SCOR Invitational Leaderboard and Earn Bigger $SCOR Airdrops

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    Pudgy Penguins Game ‘Pudgy Party’ Launches on iOS and Android

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  • Blockchain
    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    ETH Daddy Discusses Ethereum and AI

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  • Guides
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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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  • Analysis
    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Web 3

What Should You Do When The Entire Web3 Industry Pushes Back?

June 8, 2024
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What Should You Do When The Entire Web3 Industry Pushes Back?
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TL;DR

  • Last week we wrote about how Matter Labs had filed trademark applications in nine countries to claim the term “zero-knowledge”; however, they have now said that they will be dropping all applications due to significant backlash.

Full Story

Remember how last week we wrote about that company – Matter Labs – who had decided to file trademark applications in nine countries to claim the term “zero-knowledge” as their exclusive intellectual property.

Well, thanks to a whollle lot of public backlash, including a joint statement signed by leaders at Polyhedra, Polygon and StarkWare which mentioned that ZK “should remain a public good,” we have an update on the case.

Matter Labs has dropped all trademark applications.

(Well, they’ve said they will drop all trademark applications which so far seems like that hasn’t technically happened – but we expect that it will).

Here’s why this is important, and why we think this was the right move:

A company’s reputation is everything, especially in web3.

The amount of bad actors and scams has resulted in a veeery skeptical user base, and even the slightest ‘off-brand’ move will raise immediate alarm bells.

Matter Labs could have gone the other direction and taken a hard-nosed approach, leaving it to the courts to decide.

But instead, they’ve decided to take a longer term view of things and listened to their competitors and the web3 community.

Coming out the other side, not in the best position, but also not in the worst position either (heck, they sure got some publicity!).

See also  Are Stablecoins About To Become More Stable? (Is That Even Allowed?)

All this is to say, while the initial trademark applications seemed to be overstepping the mark, it’s great to see a company listen to the community and respond.

You’ve (kinda) redeemed yourself.

Tags: EntireindustrypushesWeb3

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