U.S. Magistrate Judge James Cott of the Southern District of New York on Friday dismissed a lawsuit involving an NFT believed to be the first NFT ever created, finding that the plaintiffs failed to allege an injury that would give it standing to sue.
The suit involved digital artist Kevin McCoy’s artwork Quantum. In 2014, McCoy created an NFT of Quantum on a blockchain called Namecoin, and seven years later, McCoy and the auction house Sotheby’s began marketing McCoy’s NFT on the Ethereum blockchain.
