NCFAs 6th Annual Summer Kickoff Rooftop Patio Mixer July 14

‘Fearless Girl’ creator sells NFTs to cover $3M legal fees

New York Post | Jessica Cherner | May 23, 2022

Fearless girl - ‘Fearless Girl’ creator sells NFTs to cover $3M legal feesThe famous “Fearless Girl” statue has been touted as a unique symbol of inspiration for women’s equality. But, it turns out, she’s not exactly one of a kind.

Kristen Visbal, the artist behind the 50.4-inch-tall bronze sculpture — a young girl assuming Superman’s iconic stance, originally as she faced off against Wall Street’s charging bull — is facing a breach of contract lawsuit from State Street Global Advisors, the asset-management firm that commissioned the piece in 2017, for copying her own work. So she’s decided to double down and sell even more “Fearless Girl” replicas, as well as NFTs, to cover her reported $3 million court costs.

The NFTs, which feature “Fearless Girl” in different positions and sometimes with slightly varying hairstyles, are being sold in five stages on NFT marketplace OpenSea. The first, dubbed the “Interstellar Collection” and now available in a limited edition of 125, goes for 3.57 ETH ($7,235). It includes a short film of a comet racing through space, erupting on a city sidewalk and transforming into the “Fearless Girl,” as well as a 22-inch replica of the statue.

See:  UK Court recognizes NFTs as ‘private property’

The artist was sued by State Street in 2019, after she created 25 full-size bronze replicas of “Fearless Girl” and sold eight of them for $250,000 each. Visbal also sold some 100 miniature versions for around $6,000 a pop.

A spokesman for State Street Global Advisors said, “In short, the allegations of breach include Ms. Visbal’s sale of a ‘Fearless Girl’ replica to a class action law firm and two financial companies in Australia, all of which is a breach of a clause in the contract that requires both parties’ approval before sale. The sale also violates SSGA’s exclusive intellectual property (copyright and trademark) rights.” In its court filing, the company claims that the artist has caused “substantial and irreparable harm” to both “Fearless Girl” and to State Street by creating and selling copies.

But a defiant Visbal, who lives in Rehoboth, Del., told The Post: “I didn’t make her for any company. I made her to celebrate women and for the public at large.”

Continue to the full article --> here


NCFA Jan 2018 resize - ‘Fearless Girl’ creator sells NFTs to cover $3M legal feesThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

Latest news - ‘Fearless Girl’ creator sells NFTs to cover $3M legal feesFF Logo 400 v3 - ‘Fearless Girl’ creator sells NFTs to cover $3M legal feescommunity social impact - ‘Fearless Girl’ creator sells NFTs to cover $3M legal fees

Support NCFA by Following us on Twitter!






NCFA Sign up for our newsletter - ‘Fearless Girl’ creator sells NFTs to cover $3M legal fees



Not to be missed! Registration NOW OPEN!

Help us kickoff the Summer in style


NCFA Summer Kickoff Jul 14 2022 800 - ‘Fearless Girl’ creator sells NFTs to cover $3M legal fees




 

Leave a Reply

Your email address will not be published. Required fields are marked *