NFT
Targeted phishing scam nets $438K in crypto and NFTs from hacked Beeple account
Digital artist and popular non-fungible token (NFT) creator Mike Winkelmann, more commonly known as Beeple, had his Twitter account hacked on Sunday, May 22 as part of a phishing scam. Harry Denley, a Security Analyst at MetaMask, alerted users that Beeple’s tweets at the time containing a link to a raffle of a Louis Vuitton NFT collaboration were in fact a phishing scam that would drain the crypto out of users’ wallets if clicked. ⚠️ Beeple’s Twitter account has been compromised (ATO) to post a phishing website to steal funds. 0x7b69c4f2ACF77300025E49DbDbB65B068b2Fda7D0xF305F6073CFa24f05FF15CA5b387DD91f871b983 pic.twitter.com/0MPNwOPlEu — harry.eth (whg.eth) (@sniko_) May 22, 2022 The scammers were likely looking to capitalize on a real recent collaboration betwe...
Steve Aoki & Snoop Dogg to Airdrop Singles From Forthcoming EP To NFT Holders
Web3 certainly has a knack for bringing people together, oftentimes in ways you wouldn’t expect. Case in point – Steve Aoki and Snoop Dogg, or should we say the Alpha Doggz. Indeed, the two legendary talents have forged a new creative chapter together that will see the release of their debut EP later this month. The forthcoming five-track effort will be released in partnership with the blockchain-based Gala Music platform. The first two tracks, to be released Thursday, May 19th, 2022, will be airdropped to existing holders of the A0K1VERSE Passport NFT and holders of The Doggfather’s Snoop Stashbox respectively. Both artists have remained consistently at the forefront of the flourishing movement toward digital assets. Recently, Snoop Dogg announced that with his acquisition of Death ...
Why is Ethereum used for NFTs?
When choosing any blockchain for minting NFTs, such as Ethereum for NFT development, ensure the robustness of its smart contracts, check the blockchain’s fee structure, security measures and transaction speed, and assess the possibility of forking. In the cryptocurrency market, NFTs are a significant niche. They provide further exposure to cryptocurrencies for people who might not otherwise have come into contact with these assets. In addition, they actively contribute to the mass adoption of blockchain technology because they are so closely linked to digital art and gaming. However, the resilience of a blockchain’s smart contracts is a major component of the overall security of distributed ledger technology. Smart contracts must go through extensive testing to provide the ...
OpenSea launches ‘Seaport’ marketplace protocol allowing NFT bartering
Nonfungible token marketplace OpenSea has announced the launch of a Web3 marketplace protocol for “safely and efficiently buying and selling NFTs.” In a Friday blog post, OpenSea said the marketplace protocol, dubbed Seaport, will give users the option to obtain NFTs by offering assets other than just payment tokens like Ether (ETH). According to the platform, a user “can agree to supply a number of ETH / ERC20 / ERC721 / ERC1155 items” in exchange for an NFT, implying bartering a combination of tokens as a method of payment. In addition, SeaPort users can specify which criteria — e.g. certain traits on NFT artwork or pieces part of a collection — they want when making offers. The platform will also support tipping, as long as the amount does not exceed that of the original offer. “OpenSea...
Spotify Previews NFT Galleries on Artist Profiles
The world’s biggest streaming service is hopping on the NFT bandwagon. Spotify is testing a feature to include NFTs on select artist profiles. Don’t open the Spotify app to try it out just yet though. Only a sample of Android users in the U.S. are a part of the feature test. “Spotify is running a test in which it will help a small group of artists promote their existing third-party NFT offerings via their artist profiles,” says the company as reported by TechCrunch. “We routinely conduct a number of tests in an effort to improve artist and fan experiences.” Requests from industry partners and deepening connections between artists and fans are also cited as reasons for the feature. NFT galleries on artist pages are a simple grid of static images. Videos, GIFs, and sounds are not featured in...
Coinbase introduces Web3 functionality with hot wallet and dApp browser
Select Coinbase users will access Ethereum dApps and NFTs via the Coinbase app The crypto exchange has also temporarily moved away from plans to triple staff following a $420 million Q1 loss Crypto exchange and trading platform Coinbase has announced the introduction of Web3 functionality. A small number of users will be allowed to access products on the Ethereum ecosystem, including decentralised applications such as SushiSwap and non-fungible tokens on marketplaces such as OpenSea and the newly launched Coinbase NFT. According to the official announcement published on Monday, the introduction of Web3 will allow users to explore a new set of opportunities right from the Coinbase app with the new dApp wallet and browser. The capabilities are managed by multi-party computation (MPC) technol...
UK Court recognizes NFTs as ‘private property’ — What now?
At the beginning of May, the British Web3 community celebrated an important legal precedent — the High Court of Justice in London, the closest analog to the United States Supreme Court, has ruled that nonfungible tokens (NFT) represent “private property.” There is a caveat, though: In the court’s ruling, this private property status does not extend to the actual underlying content that NFT represents. Cointelegraph reached out to legal experts to understand what this decision could possibly change in the British legal landscape. The theft of Boss Beauties In February 2022, Lavinia D. Osbourne, founder of Women in Blockchain Talks, wrote on Twitter that two digital works had been stolen from the Boss Beauties — a 10,000-NFT collection of empowered women that was created by “Gen Z chan...
NFT visionaries are doubling down on community ethos amid a bearish cycle
The fever-pitch euphoria of nonfungible tokens (NFT) reached its proverbial all-time highs in the hours preceding the calamitous gas wars of the Otherside metaverse land sale. But by most reputable accounts, following almost a year of frantic exponential growth, rife speculation and cultural spotlighting, the market was long overdue a respite. A hiatus from minting drama. It has now subsided and officially entered its inaugural bearish cycle. Statistical data from OpenSea paints a sorrowful assessment of the market’s financial fortunes, with the floor prices of some highly popular collections more than halving since peak highs. The eminent Bored Ape Yacht Club is down from its peak floor price of 156 Ether (ETH) from the beginning of May to 98.8 ETH at the time of wri...
NFT scams: How to avoid becoming a victim
When you’re an active NFT trader, you can’t avoid all the scams in the world of nonfungible tokens. The most common NFT scams are phishing, counterfeit NFTs and pump-and-dumps. The year 2021 was a breakthrough for nonfungible tokens (NFTs). But when something gets popular like decentralized finance (DeFi) and the newest version of the Web called Web3, there are also risks involved. Follow the money is advice you don’t have to give hackers twice. Last year, hackers took home $14 billion from crypto-related hacks and still, cryptocurrency crime numbers have risen 79% — and the risk is not over yet. But how do NFT traders protect themselves from getting scammed? First of all, educate yourself. By understanding the most common NFT sca...
Interview: Computecoin raises $6.2M to power Web3 infrastructure
ComputeCoin have annouced that the company has secured $6.2 million in strategic funds, led by Aves Lair. The network provides decentralised infrastructure for Web3. This is interesting because despite decentralisation being one of the core aspects of Web3, the reality is that a lot of Web3 applications are still deployed on Web 2.0 infrastructure. This creates central points of failure, as well as being converse to one of the mantras of Web3. AWS is an example of one such company that drives a huge amount of the Web3 network. With ComputeCoin, who only came together in 2018, aiming to “make global, distributed computing and storage power widely available for all Web3 builders to easily use”, we sat down with Dr Max Li, the Co-Founder and CEO, to get some answers to questions w...
Madonna Gives Birth to Trees and Butterflies in Fully Nude NFTs
Madonna has jumped on the NFT bandwagon, and much like her career in pop music, she’s not afraid to, uh, push boundaries. The musician teamed up with digital artist Beeple to create the charity-benefitting, very NSFW collection “Mother of Creation,” which depicts a fully nude Madge giving birth to trees, butterflies, and other insects. According to Madonna, the “Mother of Creation” trifecta is meant to draw a connection between the ways people create life and the ways people create art. “I wanted to investigate the concept of creation, not only the way a child enters the world through a woman’s vagina, but also the way an artist gives birth to creativity,” the artist explained in a statement. The collection offers three, minute-long videos of a digitized Madonna, where those aforementioned...
Polygon reaches level that last time triggered a 275% MATIC price rally — will history repeat?
Polygon (MATIC) price reversed course to the upside on May 10 after testing $0.794 as its interim support, thus rising by up to 25% to $0.99. The rebound occurred a day after the token slumped over 17% to reach $0.787, its lowest level since July 2021, amid a global market crash led by the U.S. Federal Reserve’s hawkish policies. MATIC price rebounded after undergoing five days of relentless declines, attracting buyers around the same support level that had preceded a 275% bull run last year. MATIC/USD weekly price chart. Source: TradingView A previous retest of the $0.787-level in July 2021 and the 0.786 Fib line (near $0.61) of the Fibonacci retracement graph — drawn from the $0.002-swing low to 2.86-swing high — followed up with MATIC rising to its record high of $3...
