Tag: NFT

Bahamian Prime Minister Philip Davis Asked SBF to Give His Son Advice on NFT Project, an Email Shows

The message, sent from a Gmail address, included an email signature with the contact information of Philip Davis, who was then and remains prime minister of the Bahamas. Davis asked Bankman-Fried if his son could call the FTX CEO to talk about an NFT project that the son was working on. In response, Bankman-Fried sent his phone number and said he’d be available via phone or Zoom, the email showed. Source

NFT market slump shows it’s maturing toward ‘genuine utility,’ execs argue

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A steep collapse in the price of nonfungible tokens (NFTs) shouldn’t be seen as a sign of distress but rather a signal the technology is maturing, according to Web3 executives. “I wouldn’t say the NFT market has regressed,“ Decentraland Foundation executive director Yemel Jardi told Cointelegraph. “Rather, it’s maturing.” Jardi’s comments come after a September report from dappGambl that analyzed over 73,000 NFT collections and concluded that as much as 95% of the NFTs studied had no value, as prices, sales volume and transactions have slid over the past year.…

Cristiano Ronaldo and Binance Release CR7 ForeverZone NFT Collection

The NFTs are available for free. To claim a CR7 ForeverZone Box, users have to open the Binance Promotion Page, complete and pass KYC verification, and collect an NFT. Portuguese football legend Cristiano Ronaldo and crypto exchange Binance have announced the release of a non-fungible tokens (NFTs) collection. Called the CR7 ForeverZone, the NFT collection is the third time Cristiano Ronaldo and Binance have collaborated to offer the player’s fans “unprecedented experiences” in the Web3 world. Myself and #Binance are giving away 50,000 free surprises! And one lucky winner will win the…

British MPs urge action on NFT copyright infringement, crypto fan tokens

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A bipartisan parliamentary committee has urged the government of the United Kingdom to protect creators from copyright infringement associated with nonfungible tokens (NFTs) and address potential harms from sporting groups issuing digital assets. In an Oct. 11 press release, Culture, Media and Sport Committee members warned the “most pressing issue” was the risk to artists’ intellectual property rights arising from the ease and speed at which NFTs can be minted, compared with the slow process for artists looking to enforce their rights. “Artists are at risk of seeing the fruits…

Mysterious $1.6 Million CrypToadz NFT Purchase Leaves NFT Community Puzzled

The reason for the surprise was that the average sale price for CrypToadz is typically under $1,000, making the sudden hundredfold increase in value in a short period of time seem questionable to experts. On October 9th, an anonymous crypto user bought a CrypToadz NFT on the popular NFT marketplace OpenSea for a shocking price of 1,055 Wrapped Ethereum (wETH), equivalent to around $1.6 million. This expensive purchase of a single non-fungible token representing one of over 6,000 illustrated amphibians raised eyebrows within the NFT community. The Surprising Price for…

Mistake or money laundering? User pays $1.6 million for CrypToadz NFT

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One of the CrypToadz nonfungible tokens (NFTs), whose average price doesn’t exceed $1,000, was bought for an astonishing 1,055 Wrapped Ethereum (wETH), an equivalent of $1.6 million. The deal occurred on the OpenSea market on Oct. 9. The NFT represents “a small, warty, amphibious creature,” one of the 6,969 units minted by the pseudonymous digital artist Gremplin. The CrypToadz collection was launched during the NFT boom of 2021 and surpassed a trading volume of 12,000 Ether (ETH) ($38 million) during its first 10 days on the market. The purchasing wallet…

Chinese government-owned newspaper to launch NFT platform

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China Daily, an English-language newspaper owned by the Publicity Department of the Chinese Communist Party, wants to create its very own metaverse and nonfungible tokens (NFTs) platform. According to a recent announcement, China Daily is awarding 2.813 million Yuan ($390,000) to a third-party contractor that can design the NFT platform within its budget specifications. The contractor can be “either a Chinese or foreign” firm specializing in blockchain, China Daily wrote. In addition, the mainnet of the blockchain firm that wins the contract must be capable of handling upwards of 10,000…

Astrology NFT project ‘Lucky Star Currency’ rugged for over $1m

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The astrology-themed NFT project Lucky Star Currency (LSC) has performed an exit scam for over $1 million, according to an October 9 report from blockchain security firm Certik. The project’s deployer account called the ‘withdrawToken’ function on both the NFTMerge and AdwardCenter contracts, removing over $1 million in LSC from them. These tokens were then swapped for Binance USD (BUSD) stablecoin and sent to another account. #CertiKSkynetAlert We can confirm an exit scam on @AstrAstrol75591 LSC token Bsc: 0x2b3559c3DBdB294cbb71f2B30a693F4C6be6132d EOA 0x9Ef withdrew LSC tokens from the AwardCenter contract. Tokens were then…