Lawsuit Against Sotheby’s and Kevin McCoy Dismissed

A New York federal judge has dismissed the Canadian corporation Free Holdings Inc.’s lawsuit claiming ownership of the digital artwork Quantum, the first known NFT created by Kevin McCoy and sold by Sotheby’s for $1.47 million. While the NFT was minted on “Namecoin,” an early blockchain controlled by Free Holdings, the judge says McCoy later minted it on Ethereum, making them two different NFTs.

This is a developing story and will be updated.