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A Pseudonymous NFT Game Developer was Defrauded of $1 Million in NFTs

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The average price of CryptoPunks NFT has increased by 53% in just one week due to its quick growth in popularity. As a result, its value has risen dramatically from $87,000 (34 ETH) on July 24 to a massive $135,000 (52 ETH) yesterday.

As a result of the passionate interest in the NFT space, scammers got hungry. According to sources, an NFT videogame founder has already been a victim of bot fraud in the CryptoPunks Discord channel.

Stazie, the Creator of the Game, was Taken Advantage Of

Scammers stole 16 CryptoPunk NFTs, including some ETH, from Hedgie creator and developer Stazie (pseudonym) on August 1. The total worth of stolen assets is believed to be in the millions.

In a series of tweets published yesterday, Stazie revealed the lie. He stated how his life had been very routine before the heist and how it had significantly changed subsequently. He wrote, unable to comprehend the incident, “The whole thing happened like a dreadful dream.” He described his horrible ordeal:

“Last night, I was laying in bed, my thoughts cloudy, lazily browsing.” I came upon this bot in Discord and followed the link. The site had a Cryptopunks-style popup and a Metamask-style popup….”

As the project approaches its fourth anniversary, a scammer identified as “cryptopunksbot” advertised a chance to win 10 highly distinctive NFT avatars on the CryptoPunk Discord server.

Stazie clicked onto a phony website and entered his twelve-word seed phrase after receiving a fraudulent notification about his Metamask wallet’s security being broken in the hopes of winning the unique avatars. After texting the word, the fraudster grabbed Stazie’s wallet in a matter of seconds.

The scammer’s wallet, which now contains 10 CryptoPunks, is available on Larva Labs.

The scammer sold five CryptoPunks NFTs for 149 ETH ($385,000) yesterday.

Yesterday night, they also transferred one CryptoPunk to another wallet, which Stazie still uses as his Twitter profile picture.

Stazie has been working in cryptocurrencies since 2017 and considers himself knowledgeable about the techniques used to scam investors of their assets and NFTs. However, he blames his current lapse in judgment on “being burned out, exhausted, and frustrated.”

NFT Thieves Have Become a Market Standard

The NFT market has soared to unprecedented heights in the last week, with markets seeing record-breaking transfers. As a result, over the weekend, these digital artifacts witnessed a lot of activity.

OpenSea, one of the largest markets, recorded the highest day transaction volumes ever on Saturday and Sunday, with $35 million and $49 million, respectively.

NFTs, like cryptocurrencies, include ownership information to facilitate token identification and transfer between holders. Each digital asset can be tracked with ease. Owners and artists can even sign their digital signatures in the metadata of their digital artworks.

However, as with other analog media, there is a lot of duplication and theft. However, because NFTs are designed to be recorded on the blockchain, they cannot be readily removed. This makes them easily verifiable even after purchase on a stolen NFT has been completed. The public record that the blockchain provides still safeguards artists, allowing them to have their works removed after they are stolen.

ART & COLLECTABLES

The crypto decline may be used by Binance to increase its market share in NFT

Football fans will soon have the opportunity to buy “an iconic piece of sports history” thanks to a collaboration between Cristiano Ronaldo and Binance.

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CR7 is starting to participate in NFTs.

The football phenom revealed his exclusive collaboration with Binance today. The multi-year contract, according to Ronaldo, will provide fans the chance to “own an iconic piece of sports history” and take part in his Web3 community.

In a video, Ronaldo stated, “Today we are going to transform the NFT game and move football to the next level.”

The Binance-controlled exchange and the Binance Smart Chain are two of the largest elements of one of cryptocurrency’s largest ecosystems (BSC). With 407 different protocols built atop it and $5.92 billion in value locked, BSC is the second-most used blockchain (after Ethereum).

Binance has had trouble creating a thriving native NFT ecosystem despite these great figures. With only $79 million in total trade volume, PancakeSwap, the decentralized exchange and flagship protocol of Binance, ranks twenty out of the NFT markets (OpenSea and LooksRare, two Ethereum marketplaces, had respective trading volumes of $31.24 billion and $23.23 billion).

Therefore, the alliance with Ronaldo might be interpreted as an effort by Binance to add value to BSC and start growing the NFT market share of the blockchain. On this retweet of the formal announcement, Binance CEO Changpeng Zhao “CZ” may have hinted as much: “Now, we start.”

This week saw the announcement of several noteworthy NFT partnerships, such as Pharell Williams’ recent appointment as Chief Brand Officer for the Doodles line.

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NFT

OpenSea and Kakao’s Klaytn collaborate to expand NFT across Asia

Klaytn, a Singapore-based public blockchain platform, and OpenSea, a non-fungible token (NFT) market, established a cooperation on Friday to support the Asian NFT ecosystem.

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  • In order to showcase Asian NFT initiatives to a worldwide audience, the alliance involves conference collaborations and ecosystem awards.
  • The largest NFT marketplace in the world supports four blockchains: Klaytn, Polygon, Solana, and Ethereum.
  • The blockchain subsidiary of South Korean internet behemoth Kakao, Ground X, founded the Klaytn Foundation.
  • On its central bank digital currency (CBDC) pilot project, the Bank of Korea collaborates with Ground X.

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ART & COLLECTABLES

NHL Opens Hockey Collectibles NFT Marketplace

The NHL, along with its Alumni Association and Players’ Association, said on Thursday that it has joined with NFT platform Sweet to build a distinctive NFT marketplace and libraries of NFTs—individual blockchain tokens that denote ownership.

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The NHL’s market will fall between a full-fledged NFT trading platform and a website that enables momentary NFT drops, according to David Lehanski, the league’s executive vice president of business development and innovation.

By creating an NFT marketplace with exclusive releases, the NHL hopes to give fans a little bit of both. In preparation for the commencement of the 2022–2023 season, the NHL’s Sweet marketplace is anticipated to launch in October.

The NHL aims to gamify NFTs with “questing and collecting” components so that fans will interact and can be rewarded with benefits like other NFTs, according to Lehanski, who spoke to Decrypt.

Depending on a player’s performance, some of the NFTs will also be dynamic and alter over time. According to a statement, NFTs will also include “cinematic game highlights from past and present NHL seasons” or surprise packs of NFTs that may be seen in “3D interactive trophy rooms.”

Lehanski claimed that the NHL wasn’t yet ready to reveal which blockchain it would be constructing on. Though it might be on Polygon or Tezos if Sweet’s offerings are any indicator.

Lehanski stated, “We’re looking at everything,” and that the NHL’s top priorities in its search for a blockchain include “cheap gas expenses” and “environmental sustainability.”

The NHL is one of the most recent major professional sports leagues to enter the NFT market, following the NBA’s Top Shot NFTs, the NFL’s “play and own” NFT game, and MLB’s impending NFT contest.

Lehanski commented on the NHL’s approach to NFTs, saying, “There was clearly a lot of temptation to potentially moving very rapidly […] but we thought that was a little shortsighted.” He added that, in his opinion, spending the time to investigate indicators like fan behavior was worthwhile. Especially in relation to digital collectibles and gaming, NFTs have a long-term future as relevant and meaningful items for enthusiasts.

But according to Sweet CEO Tom Mizzone, the NHL’s NFTs won’t simply be targeted at hockey fans who are unfamiliar with cryptocurrencies; seasoned NFT collectors will also be able to participate in a way that feels natural to them.

It will undoubtedly appeal to that degen culture, he continued, but not to the extent that it excludes fancier consumer bases.

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