Tag: NFT

Mutant Ape Planet creator arrested in NY for alleged $2.9M NFT ‘fraud’

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The developer of a Mutant Ape Yacht Club knock-off collection — Mutant Ape Planet — has been arrested in New York and charged with defrauding investors of $2.9 million in a “rug pull scheme.” The arrest took place on Jan. 4 at John F. Kennedy International Airport in New York, with homeland security agent Ivan J. Arvelo alleging that French national “Aurelien Michel perpetrated a rug pull scheme” and stole “nearly $3 million from investors for his own personal use.” He added: “Purchasers of Mutant Ape Planet NFTs thought they…

Fanatics to Sell 60% of Candy Digital Stake Amid Struggling NFT Market – Bitcoin News

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Fanatics, the retailer specializing in licensed sports merchandise, is divesting 60% of its stake in the non-fungible token (NFT) company Candy Digital, according to reports. The company is selling its Candy Digital stake to an investor group associated with billionaire Mike Novogratz and his firm, Galaxy Digital. Report Says Sports Retail Giant Fanatics to Sell Majority of Candy Digital Stake After a rough 2022 in the non-fungible token (NFT) industry, licensed sports merchandise firm Fanatics has decided to sell 60% of its Candy Digital shares, according to a CNBC report…

China’s NFT market, Moutai metaverse popular but buggy… – Cointelegraph Magazine

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After a one-year hiatus, Our Man in Shanghai returns, but he’s no longer based in Shanghai (the crypto crackdown was a factor in the column’s retirement), so a rebranding is in order. This space is now called “Asia Express,” and it’s a weekly roundup of news from mainland China and Taiwan and the rest of Asia too. Check in each Friday for news about Asia’s more influential projects, changes in the regulatory landscape and enterprise blockchain integrations. Much has changed since the last edition on Dec. 17, 2021. Without further…

Introducing CATASTROPHY MultiPass: the Revolutionary NFT Solution for WEB3 BUIDLers

Place/Date: – January 5th, 2023 at 12:16 pm UTC · 4 min read Source: CATASTROPHY The CATASTROPHY team has unveiled a pioneering offering, MultiPass, which repurposes non-fungible tokens (NFTs) as decentralized identities (DIDs) and serves as a cross-chain, cross-application membership token. This innovation comes at a time when the market for NFT collectibles is experiencing a decline in value and liquidity amid bearish conditions. WEB3 BUIDLers stand to benefit greatly from this innovative solution, which facilitates access to advanced memberships for various tools that are crucial for product development and…

Fanatic sells 60% stake in Candy Digital amid ‘imploding NFT market’

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Sports merchandise firm Fanatics is divesting its stake in nonfungible token (NFT) company Candy Digital as confidence in the asset class wanes. On Jan. 4, it was reported that Michael Rubin’s sports company Fanatics was offloading its majority 60% stake in the NFT startup. Fanatics was started in 2011 and has become a known name in sports merchandising and e-commerce, valued at $31 billion.  MLB ICON Leadoff NFT Collectibles, launched by Candy Digital in Apr. 2022 Source: MLB However, the crypto bear market has hit the NFT sector hard in…

Fanatics Selling Its 60% Stake in Sports NFT Firm Candy Digital: Report

But Fanatics’ CEO Michael Rubin wrote in the internal email that “Divesting our ownership stake at this time allowed us to ensure investors were able to recoup most of their investment via cash or additional shares in Fanatics – a favorable outcome for investors, especially in an imploding NFT market that has seen precipitous drops in both transaction volumes and prices for standalone NFTs.” Source

NFT influencer falls victim to cyberattack, loses $300K+ cryptopunks

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NFT Influencer CryptoNovo announced on Jan 4. that they have fallen victim to a cyberattack and lost two cryptopunks. The post on Twitter says “I just got hacked!!! Are you kidding me!?!” and includes a screenshot from OpenSea displaying two cryptopunks being transferred to another address. I just got hacked!!! Are you kidding me!?! pic.twitter.com/r1xS0mhD6P — CryptoNovo (@CryptoNovo311) January 4, 2023 The two cryptopunks were immediately sold by the attacker, one for 70 ETH (worth an equivalent $88,434 at time of publication) and the other for 199 ETH ($251,404). This…

The worst influencer and celebrity NFT cash grabs of 2022

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Mainstream hype for the nonfungible token (NFT) market cooled down significantly in 2022, but that didn’t stop a host of popular and wealthy figures from stinking up the space with dreadful collections last year. In the 2022 edition of the worst influencer and celebrity NFT cash grabs, Cointelegraph takes a look at four projects seemingly designed to milk capital out of their fans pockets, while delivering very little. Tai Lopez — OG (Original Garage) Social Club First on the list is the oddball entrepreneur Tai Lopez, best known for his…