Celebrities facing huge losses from BAYC NFTs The hype behind the Bored Ape Yacht Club (BAYC) over the last year resulted in many celebrities investing in the Ethereum-based nonfungible token (NFT) collection with many, such as singer Justin Bieber, paying top dollar. Bieber paid 500 Ether (ETH) for BAYC #3001 on Jan. 29, which at the time was valued at around $1.28 million, while the current top offer on the NFT cracks just over $69,500. According to data from NFT Price Floor, the floor price for the collection has fallen considerably since it peaked at 144.9 ETH on May. 1 this year, which at the time was worth around $396,760, to a current low of 48 ETH, valued at $58,589 at the time of writing. Many other celebs also rode the wave of hype that saw the Yuga Labs made NFTs become a “blue ...
Non fungible token (NFT) artist Mike “Beeple” Winkelmann has found himself the target of phishing scammers yet again, warning users that the URL link to his official Discord server was “hacked” — sending unaware new members to a wallet draining Discord channel if they follow the link. In an Oct. 3 post, the NFT artist warned users not to go into the “fraudulent” Discord channel and verify as it will “drain your wallet.” it appears our discord URLs were hacked to point to a fraudulent discord. DO NOT go into that discord and do not verify, it will drain your wallet!! once again massive thanks again to discord for being garbage. — beeple (@beeple) October 3, 2022 However, Beeple wasn’t the first to notice the URL slight-of-hand, with Twitter user maxnaut.eth not...
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...
The founder of the $723.5 million Azuki NFT project who goes by “Zagabond” online caused a sh*tstorm yesterday after revealing that they had previously worked on three noabandoned NFT projects. After facing strong backlash from the NFT community, they have since apologized for their “shortcomings.” The three projects in question are Tendies and CryptoPunks copycats CryptoPhunks and Cryptozunks. Zagabond suggested all three had failed due to a lack of community support , and other factors such as team members leaving or high gas fees on Ethereum (ETH). After releasing the blog via Twitter, most replies were in support of Zagabond’s honesty on the trial and error path that led to Azuki NFTs, however other sections of the NFT community weren’t as pleased. Really don’t understand all the...
A group of editors on Wikipedia, the free user generated encyclopedia, have voted against classifying NFTs as a form of art and have come to a consensus to shelve the issue until a later date. A survey and debate started on the platform at the end of December revolving around the most expensive art sales by living artists and whether NFT art sales should be deemed as “art sales” or “NFT sales.” “Wikipedia really can’t be in the business of deciding what counts as art or not, which is why putting NFTs, art or not, in their own list makes things a lot simpler,” editor “jonas” wrote. Much of the discussion centered on whether an NFT represented the art or if it was simply a token that was separate to the underlying art. The editors were torn on the definitions and some felt that there w...
Alesso has set the tone for the future of NFTs by unveiling his debut drop, dubbed “Cosmic Genesis,” at Dreamverse, the world’s first-ever NFT art and music festival. Last month fans were given cryptic clues and a special decoder to decipher Alesso’s NFT through social media. Opting in on the OneOf platform provided fans with the special decoder which, once deciphered, unlocked the first chapter of the “Cosmic Genesis” story. “Cosmic Genesis” is a video series consisting of four chapters in total. Each represents a new curated audiovisual experience—a piece of Alesso’s vision—and new music from the Swedish EDM superstar. Dreamverse kicked off on November 4th and was the world’s first combined NFT art gallery and mus...
Another monumental milestone for the adoption of NFTs is on the horizon with the formation of the world’s first music, art, and technology festival that will focus on the emerging blockchain asset class. Metapurse, the world’s largest NFT investment fund, has unveiled their festival project, Dreamverse, which will feature an immersive gallery viewing experience by day and musical performances by night. Presented in collaboration with TIME, the in-person Dreamverse experience will feature works of art canvassed on hybridized physical and digital structures. Attendees will also have the option to view some pieces from the immersive world of virtual reality on site. One of Dreamverse’s main attractions will be the public debut of Beeple’s Everydays: The Fir...
After making headlines for his historic $69 million NFT sale, Beeple is once again drawing immense attention with a new, charitable auction. Seemingly responding to criticism involving the environmental impact of NFTs, eight pieces of art from eight artists, including Beeple, will be sold with 100% of proceeds directed to the Open Earth Foundation. Organizers have also stated that each piece is carbon-negative and promise that carbon offsets will be provided to each artist involved. Naturally, the circumstances surrounding the unique auction have caused many prominent figures in the art and crypto worlds to get involved. Considering the many electronic music crossovers in the NFT realm, two high-profile dance music stars unsurprisingly joined in on the bidding. Both Steve Aoki and Calvin H...
As the latest Bitcoin and cryptocurrency hype cycle has gripped investors and driven a whole new wave of adoption to the space, Duncan and Griffin Cock Foster find themselves at the epicenter. The twin brothers and entrepreneurs have helped spearhead a meteoric trend in the digital asset space with their company Nifty Gateway, a marketplace for digital art and collectibles called NFTs, or non-fungible tokens, which are collectible assets authenticated and secured by blockchain technology. A few years ago, the idea of collectors purchasing digitally minted art pieces to the tune of thousands and sometimes even millions of dollars would have seemed ludicrous. However, as public comfort and interest in blockchain technology has only continued to rise, cultural influencers—especially musicians...
Beeple, one of the most prolific visual graphics artists in dance music, has sold a collection of digital artworks for an astounding $777,777 via auction. If you don’t know Beeple by name, there’s still a good chance you’ve seen his work at a dance music show. The designer has worked with the upper echelon of music producers including Skrillex, Zedd, deadmau5, and many more to develop mind-bending visuals and artwork. Over the weekend, numerous artwork auctions from the designer were hosted via Nifty Gateway, a budding marketplace for digital assets. With the advent of blockchain technology, true ownership of digital assets (referred to as “nifties” on the platform) is now a possibility. Participants bid on a variety of singular prints from Beeple, many ...