Reddit NFTs: An Insight into the Journey from Web2-to-Web3
One of the biggest issues that web3 has faced thus far is onboarding people from Web2 to Web3. The recent release of NFTs from Reddit has done an excellent job of this. Let's take a look at the success of Reddit Collectible Avatar NFTs and how they managed to successfully integrate people from Web2 to Web3.
Fanatic Sells 60% Stake in Candy Digital Amid 'Imploding NFT Market'
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. (Cointelegraph)
Magic Eden to Refund Users After 25 Fake NFTs Sold Due to Exploit
Nonfungible token (NFT) marketplace Magic Eden has pledged to refund all users who were duped into purchasing fake NFTs on its website as a result of an exploit. In a Jan. 4 statement, the company said a bug in its newly deployed "activity indexer" for its Snappy Marketplace and Pro Trade tools essentially allowed fake NFTs to skirt verification and get listed alongside genuine NFT collections. Magic Eden said the exploit led to 25 fraudulent NFTs sold across four collections in the last 24 hours but is currently confirming whether additional NFTs were affected beyond the last day. (Cointelegraph)
Rug Pulls: How to Spot a Usual Suspect
We’ll consider what history has taught us, common tricks ruggers use, and the role influencers can play in both driving FOMO and helping you stay up-to-date on the latest in scams and security.
NFT Sales in 2022 Nearly Matched the 2021 Boom, Despite Market Crash
Despite months of declining sales and falling prices, overall NFT sales volume last year nearly matched the 2021 peak, according to data from DappRadar. A buzzy start to the NFT market in 2022 buoyed the year-end tally and helped make up for the several weaker months that followed, the data suggests.
NFT Influencer Falls Victim to Cyberattack, Loses $300K+ Cryptopunks
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.
Fanatics Selling Its 60% Stake in Sports NFT Firm Candy Digital
Sports apparel and memorabilia firm Fanatics is selling its 60% stake in sports-focused NFT company Candy Digital to a group led by Galaxy Digital, according to a report from CNBC, citing an internal email obtained by the network.
Magic Eden Updates Verification System After Fake y00ts and ABC NFTs
Solana's top NFT marketplace Magic Eden updated its verification layers for NFT collections following a series of fake duped projects.
Virtualness Wins Exclusive Multi-Year Web3 Deal for End-to-End Rights to Philippine Basketball Association’s NFT Digital Collectibles
The Philippine Basketball Association (PBA) and Virtualness, a mobile-first platform which simplifies the complex world of Web3, today announced that Virtualness will exclusively power an innovative, easy-to-use digital experience for basketball fans to discover, explore, collect, trade, buy and own memorable, once-in-a-lifetime, moments in the games via branded digital collectibles. These NFT collectibles span a gamut of use cases – from commemorative, topical, gamification to unlocking unique fan experiences.
A Year of Lessons: How Crypto Was Shaped in 2022
Here, TokenInsight presents you our year end review of 2022. Everything changes so fast in the crypto world, so we release it specially on the very last day of the year, in case something significant happens today and we can’t include it. It’s also our way to say goodbye to 2022. Hope it helps you with your new year resolutions.
