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Why Is There a Dick Pic NFT in Budweiser’s Ethereum Wallet?

Exposing your wallet address can expose you to NFT-based trolling, as Visa, Coca-Cola, and others have discovered.

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Late Tuesday, the Anheuser Busch-owned beer brand Budweiser made a splash in the crypto market by purchasing NFT assets, including the beer.eth Ethereum Name Service domain. However, a look at Budweiser’s Ethereum wallet reveals some additional startling NFTs, which are either humorous or worrisome depending on your point of view.

For example, why is there a cartoonish penis dressed up as Harry Potter in the PeePeeBoy NFT collection? Why is a badly written “Minimalistic cock” drawing from the Minimal Cocks NFT set included? There’s also a CryptoDickbutt NFT and others from various collections that appear to be knockoffs of Pudgy Penguins and Ether Rocks sets.

There’s no shame in collecting phallic NFTs, and if Budweiser wants to do so, then so be it. Let your imagination run wild! On the leading secondary market, OpenSea, there are tens of thousands of them.

But that is most likely not the case here.

Crypto enthusiasts have likely sent their strange NFTs to Budweiser’s wallet since the address was revealed as part of Budweiser’s Twitter maneuverings. Budweiser now owns those photographs, even though it didn’t seek them out, thanks to an NFT, which works as a deed of ownership to digital property, including drawings of body parts and plenty more.

Crypto wallets are pseudonymous, meaning they are identified by a string of letters and numbers rather than a name or appellation. When a person or organization identifies itself as the owner, however, there is a risk of abuse in the form of undesired assets being received, regardless of intent.

This isn’t the first time it’s happened to high-profile subjects joining the crypto world, whether you perceive it as adversarial trolling or just silly fun. Indeed, when Visa revealed its purchase of a high-end CryptoPunk NFT on Monday, the wallet was immediately accompanied by potentially contentious collectibles. That wallet now contains NFT photos of penises, breasts, and piles of dog excrement, and a slew of other collectibles—as well as the Ethereum Name Service (ENS) domain for feetpic.eth.

To date, those are the two most high-profile cases, although there are others. For example, after writing about Pudgy Penguins, New York Times tech reporter Kevin Roose pleaded with readers to “please stop mailing me your tokens.” And when billionaire investor Mark Cuban got serious about NFTs and crypto earlier this year, his wallet was flooded with new NFTs.

NFTs are also being sent to multiple brand wallets by some of the same persons. Some of the same collections are represented in both the Visa and Budweiser NFT wallets. The creator of an NFT named “A Gift for Budweiser” sent similarly insulting NFTs to Visa and Coca-Cola. On that topic, Coca-Cola received an NFT named “Masturbate,” as well as a slew of other oddities.

There’s one more thing worth mentioning. On OpenSea, the beer.eth domain and “Life of the Party” NFT from the Tom Sachs Rocket Factory collection are advertised as sales, but the other NFTs have been transferred. In other words, they were delivered to Budweiser’s wallet without the company’s knowledge. Budweiser updated its Twitter profile picture to the rocket NFT and tweeted about it last night, resulting in all of those non-sale transfers.

What should you do if you find an NFT in your wallet that you don’t want? “I have to burn them or send them back,” Roose tweeted, “which costs gas and is overall annoying.” You can either “burn” or “delete” the NFT for good, or you can transmit it to another Ethereum address, whether it’s the original sender’s or somewhere else. In any instance, you must spend some ETH to cover the transaction’s gas price.

In reality, when Mark Cuban received an ENS address NFT that he didn’t expect, he had to destroy the asset to break the link to his wallet address. Cuban, on the other hand, seemed to have taken the difficulties in stride, saying in March, “Yeah, it’s not as private as people assume. Isn’t that the entire premise of the blockchain? Because it’s all verified, it’s completely open.”

You can also block specific NFT assets from appearing on your OpenSea profile, the major secondary marketplace, and a popular way to explore NFT collections—but they’ll still be in your wallet. Those digital dicks aren’t going away anytime soon.

NFT

Could this trademark application indicate that PayPal is developing an NFT market? 

A trademark application for blockchain and cryptocurrency technology has been submitted by PayPal. Some claim that the file has something to do with Web3 and the metaverse, although it may be tied to an NFT marketplace.

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A recent trademark application by PayPal has been found, and it suggests the development of a service pertaining to several facets of blockchain technology. The file, which was made on October 18, makes a notable allusion to the potential introduction of a non-fungible token (NFT) market.

For its logo, PayPal submitted two trademark applications. The first one concerns “downloadable software” for cryptocurrency trading and storage. The second discusses cryptocurrency-related payment processing services.

Although users may currently buy cryptocurrencies on PayPal’s platform, this filing suggests that there may be more to come. The concept of assets is substantially broader in the filing’s terminology. Mike Kondoudis, a trademark lawyer licensed by the USPTO, claimed on Twitter that this filing relates to NFTs and the metaverse.

Although there is no proof to support this, it would not be shocking if it were true. The finance business would be adding its name to a lengthy list of businesses that are starting to make inroads into the Web3 and metaverse spaces.

PayPal is investing more in cryptocurrency.
Over the past two years, PayPal has intensified its focus on cryptocurrencies. First, the company made a huge announcement for the industry by saying that consumers would be able to purchase cryptocurrency on its platform.

However, it didn’t start enabling users to move those funds into wallets outside of the network until recently. It indicated that it would roll out additional crypto-related features in the latter part of last year. One of those additions might be an NFT marketplace.

It teamed up with Coinbase’s TRUST network more recently. This was viewed by many as an endorsement of the sector. The TRUST network upholds consumer security and privacy while adhering to the banking industry’s Travel Rule.

Increased Criticism of Payment Giant
Additionally, PayPal has been in the spotlight for all the incorrect reasons. The business has recently come under fire for a contentious policy that penalized users for disseminating false information. Later, it claimed that false information was released with the amended policy. Crypto aficionados, however, were eager to point to this as evidence of the value of decentralization.

PayPal established a blockchain and cryptocurrency advisory committee earlier this year. According to the company’s management, working with governments is essential to overcoming obstacles and seizing possibilities.

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NFT

Seba Bank, a cryptocurrency company, aims to store valuable NFTs

Seba Bank, a cryptocurrency company, has launched its first NFT service, a blue-chip NFT-specific institutional-grade, certified, and independently audited hot and cold storage custody product.

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The launch comes in response to requests from customers to keep their NFTs with the bank alongside other crypto assets, such as the already-approved Bored Ape Yacht Club, Cryptopunk, and Clone X NFTs. The bank stated that new collections would be added based on customer demand.

With its newest offering, Seba Bank seeks to entice investors who view NFTs as an asset class and crypto natives. Not your keys, not your bitcoin is a well-known phrase in the crypto sphere, and adherents of this maxim could object to having their Apes or Punks stored with a third-party custodian.

Urs Bernegger, co-head of markets and investment solutions at Seba Bank, however, highlights a growing group of NFT holders who are more at ease handing up their NFTs and private keys to a company.

They don’t want the key because they aren’t even aware of how to handle and store it. He claimed that they’re more concerned with damaging the key than giving it to a bank.

It’s a significant issue. Between 2.3 million and 3.7 million bitcoins, according to Chainalysis, are trapped in inaccessible wallets. Numerous accounts of people have lost millions owing to losing private keys, including Russian officials, students, and engineers. Families have also been prevented from accessing substantial quantities of money following sudden deaths in which wallet owners had not disclosed their private keys.

Bernegger asserts institutional custody can be advantageous for native crypto users as well. There has been an increase in businesses providing services that employ NFTs as collateral for conventional banking services like loans.

Seba Bank is thinking about implementing these features in the future. Based in the crypto-friendly Swiss town of Zug, the four-year-old bank already backs several investing, credit, lending, and staking options for cryptocurrencies and might extend them to NFTs.

“Instead of traveling to the market, for instance, we could create a club for collectors and assist them in finding other collectors. There are a few things we have in mind, but we laid the groundwork by storing NFTs securely at first, “explained he.

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The NFT album maker for Kings of Leon now includes a metaverse music venue

YellowHeart, a Web3 ticketing startup, is opening a metaverse music venue in an effort to transform how performers, teams, and event organizers distribute tickets and interact with fans.

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The facility, constructed on Spatial, will feature Grammy-nominated blues musician G.Love as its opening act later this year. Fans can communicate with one another, participate in meet-and-greets before and after performances, and use several screens to view what is happening in various areas of the stadium simultaneously.

They will soon be able to order meals and drinks before the event, which will also be available as digital things.

The idea of an online concert has so far primarily been popularized by big gaming companies. The most well-liked virtual competitions have occurred on sites like Fortnite and Roblox. Ariana Grande’s Fortnite concert in August 2021 received 78 million viewers. Next month, Decentraland will host its second Metaverse Music Festival. Over 100 musicians are on the lineup, including well-known performers like Ozzy Osbourne and Soulja Boy.

In addition to throwing an event, YellowHeart, which assisted Kings of Leon in releasing an NFT version of their most recent album, stated that it hoped to accomplish more. It was established in 2017 with the lofty goal of revolutionizing the music ticketing sector as a whole, which has historically been dominated by powerful reselling organizations and exclusive ticketing relationships. These alliances frequently impose limitations on what purchasers can and cannot do with their tickets. Trying to resell a ticket for a concert you can’t go to might be a headache.

YellowHeart believes these issues can be resolved by returning control to artists and fans via web3 technology. Additionally, it may provide advantages that cannot be programmed into conventional tickets.

“These range from complete albums to personalized vinyl records, exclusive merchandise, and immersive visual art. Web3 tickets also allow performers to update fans on new tour dates, music releases, giveaway possibilities, and much more, according to the business.

It has already collaborated with well-known figures, including Julian Lennon, Maroon 5, and MGM Resorts. Contrary to the non-NFT versions offered on Spotify, iTunes, and other platforms, those obtained through YellowHeart entailed particular customer benefits.

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