Tag: NFT

Canada to develop repository for storing crypto and NFT seizures

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The Royal Canadian Mounted Police (RCMP) is seeking for a digital asset solution to facilitate the seizure and storage of cryptocurrency and nonfungible tokens (NFTs). A tender was opened for applications on August 10. As the tender announcement goes:  “The development of a centralized repository solution would allow police officers to seize these assets in a user friendly manner, while also offering significant security to prevent the theft of said assets during their storage.” There are seventeen points, demanded by the RCMP from the future repository. Among them are the…

NFT project y00ts to return $3M grant as it ditches Polygon for Ethereum

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Non-fungible token project y00ts is again switching blockchain networks, only four months after bridging the majority of its NFTs from Solana to Polygon. DeLabs, the NFT firm behind y00ts, announced via its X (Twitter) account on Aug. 9 it will soon be migrating to Ethereum in line with its DeGods NFT collection. 1. y00ts will be migrating to Ethereum. — y00ts (@y00tsNFT) August 9, 2023 The NFT collection had mostly migrated from Solana to Polygon in April. The move was first initially announced in December, with the migration starting officially on March 28. By…

Trader nabs 800 ETH by baiting a bot, NFT thefts slow and more

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NFT trader’s $1.5M bot chess move YouTuber and nonfungible token (NFT) trader Hanwe Chang said he scored 800 Ether (ETH), around $1.5 million, by tricking a rival trader’s bot into buying his own inflated NFTs. In an Aug. 5 X (Twitter) post, Chang said he noticed a bot was copying his bids on the NFT marketplace Blur and decided to trick them. An NFT-focused account A Raving Ape speculated that from a separate, anonymous wallet Chang purchased multiple Azuki NFTs sharing the same background color. Context on how @HanweChang executed a…

FBI warns of fraudsters posing as NFT developers to steal crypto

The Federal Bureau of Investigation (FBI) recently issued a warning to potential NFT buyers to beware of bogus websites that use “drainer smart contracts” to steal from crypto wallets. The advisory informs the public about a new crypto scam where the culprits masquerade as legitimate developers to target crypto users looking to buy non-fungible tokens (NFTs). The scammers either hack social media accounts belonging to real NFT projects or create near-identical profiles capable of misleading casual observers, the FBI says. They then use these accounts to promote fake NFT releases. The…

NFT Trading Is Down But Developer Sentiment is High

What: CryptoPunks, one of the earliest NFT projects on Ethereum and also one of the most popular collections of all time, experienced a number of high-profile trades this week, including one from prolific NFT artist Beeple. His first profile-picture (PFP) NFT purchase, the clownish Punk #4953 set the stage for other high-value buys, including Punks #6634, which sold for 235 ETH (about $432,000) and Punk #3307, which sold for 500 ETH (about $915,000). Source

NFT Sales Have Dropped by Nearly 50% Since January: DappRadar Data

The DappRadar report also noted that the shifts in trading volume and network activity may be partially attributed to “the emerging popularity of ‘low barrier entry’ NFTs. These assets, smaller in individual value, cater to a wider audience,” and “a broader shift in the NFT market towards platforms that offer more affordable and accessible NFT options.” Source

Zuckerberg’s metaverse losses, NFT game on Discord, Gods Unchained hot take – Cointelegraph Magazine

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Let’s get business out of the way before getting to the fun part: Meta, the parent company of WhatsApp, Facebook and Instagram, is heavily involved in virtual worlds through its metaverse unit, Reality Labs.  However, its investments have yet to pay off, with the metaverse company reporting collective losses of over $40 billion.  Despite the losses, investors are optimistic about Meta CEO Mark Zuckerberg’s long-term bet on the metaverse, sending the stock up 7% after hearing Zuckerberg’s reasoning on the Meta Q2 2023 Earnings call. Meta’s stock price spiked to…