Alleged Ethereum NFT Copycat Musical Beats Shuts Down After Launch

An alleged Ethereum NFT copycat Musical Beats launched on the Binance smart Chain shuts down moments after the launch and now Ethereum and BSC are at war so let’s read more in our latest Binance news.

Musical Beats was just one of the few copycats. The binance Smart Chain was initially launched to compete with Defi and Ethereum and other applications with a few BSC projects looking similar to Ethereum projects as of late. Amid the recent rise of the EulerBeats ETH NFT, an alleged Ethereum NFT copycat Musical Beats launched recently.

Team has decided to stop development of https://t.co/QhodurD05P. Users can burn their token, there will be some loss of money. We will be distributing the developer fund, to compensate loss of money, still there can be 10-20% loss. The developer fund distributes this sunday.

— MusicalBeats (@_musicalbeats) March 2, 2021

Amid the recent rise of the ETH NFT project Euler Beats, the alleged copycat version launched on Monday on BSC. A few days later, Musical Beats is shutting down as the project announced day later. ETH Developers and community members accused the project of ripping off EulerBeats which is taking the works of Swiss mathematician Leonhard Euler and Is able to turn them into unique visual and audio works of collectible art. Musical Beats is now the only alleged copycat of an Ethereum project.

For many popular ethereum-based projects, there’s a similar Binance Smart Chain version. The ETH NFT project Hashmasks has an apparent cousin on BSC called Bashmasks and the CryptoPunks version has a copycat dubbed Binance Punks. Binance Smart Chain launched back in September and fired a shot across the bow of Ethereum that was enjoying huge growth thanks to a large part of the range of decentralized finance projects that are built on the platform. Binance’s CZ said:

 “Binance Smart Chain makes it possible for developers around the world to build DeFi services and many more dApps within the Binance Chain ecosystem, while delivering various benefits such as an all-new method for staking BNB, high performance, lower fees, direct connection with fast DEX and more.”

The irony of BSC literally copying and pasting Ethereum NFT projects designed to help creators retain rights is not lost on me. We will aggressively look into any and all actions against this rip off and any who assist them in infringing our copyright. pic.twitter.com/2l9sgSo0is

— Matt Corva (@MattCorva) March 1, 2021

He suggested that the platform would have been Ethereum without the congestion and expansive transfers turning out to be timed to take advantage of the rising popularity of NFTs’ unique digital assets like artwork, songs, and digital assets that can have their own authenticity verified on the blockchain. It all started with PancakeSwap as a BSC fork of popular Etheruem-based decentralized exchange Uniswap and it then became the most-used decentralized exchange in the world.