CoinMarketCap takes a look at some of the most prominent play-to-earn and NFT events — from a BAYC owner selling his Ape for just $3,000, to another collector dumping CryptoPunk #4156.
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Pay Your Tuition With NFTs on New Web 2 Educational Platform
Another interesting twist to the model is that students will be able to sell their NFTs after completing the courses. deWilde believes this model will allow students to recoup their investment after learning.
CryptoPunk Owner Sells NFT for $10M Following IP Dispute
Punk4156 purchased the CryptoPunk in February for 650 ETH ($1.25 million). Back then, it was the largest-ever single CryptoPunk sale. The collector proceeded to build a brand around his pixelated avatar and has grown his Twitter fanbase to more than 100,000 followers. He also co-founded the Nouns NFT project.
“Over that time, it became clear to me that there was probably no chance that I would ever own the rights to the thing that I was building,” he said. “It's just kind of an illogical position to continue building your brand around something over which you don't have the strongest claim.”
Most recent NFT projects are adding elements of utility and additional perks. However, in the case of Larva Labs, the team has remained silent on issues like licensing and commercial usage. Comparatively, Bored Ape Yacht Club (BAYC), another popular NFT collection, allows users to turn their NFTs into merchandise and music acts. A number of collectors are beginning to view CryptoPunks as a relic.
Punk #4156 was bought by Vincent Van Dough, another high-profile NFT collector who runs the Starry Night collection.
UNICEF Taps on NFTs to Connect Schools to the Internet
The organization announced that it was launching a collection of NFTs to commemorate its 75th anniversary. Proceeds from the January 2022 NFT sales will be used to support a plethora of projects, including the Giga, “a global initiative to connect every school to the internet and every young person to information.”
Meanwhile, Bremer’s art is inspired by the work of “It’s a Small World” creator Mary Blair. The digital artist noted that she began with simple geometric shapes; circles, squares and triangles.
"In the final visuals, each school has become a tiny square, interlocking with other schools to form Kingdoms, split between those connected and disconnected to the internet.”
Despite its latest romance with NFTs to raise funds, the UN agency has been in the blockchain space since before the launch of its CryptoFund in 2019. UNICEF Innovation Fund has been investing in the space and funding early-stage open-source Web 3 projects.
Hackers Steal $140M From NFT Marketplace Vulcan Forged
The attack was targeted at Vulcan’s wallet service known as MyForge. 96 high-vale wallets on the platform were compromised. The attacker managed to cart away with 23% of the circulating supply of the PYR tokens, which were then offloaded on various crypto exchanges.
Vulcan Forged operates an NFT marketplace and a decentralized exchange for gaming tokens. It has also created several blockchain games, including Berserk, Vulcan Chess, Forge Arena and BlockBabies. Interestingly, the team has taken responsibility for the incident and has promised to refund affected users from its treasury.
A more recent update claims that most users have been refunded their PYR tokens. However, this was not enough to stop the price of the token from crashing. The value of its PYR token tumbled by 26.2% following the incident.
As a secondary measure, Vulcan disclosed that it will disable its “semi-custodial solution from the entire Vulcan ecosystem.” In its current system, the private keys of users are co-managed by the company. Failure to secure it at the company’s side led to the security breach. In the future, users will have total control of their wallets and private keys.
Bored Ape Yacht Club NFT Sells at Massive Discount Thanks to Fat Finger Error
The owner of a Bored Ape Yacht Club (BAYC) NFT is probably kicking himself after accidentally selling Bored Ape #3547 for 0.75 ETH instead of 75 ETH.
BAYC NFTs have grown to become one of the most expensive and popular collections in the market. However, a collector made a grave mistake on Saturday when he sold a piece valued at $300,000 for just $3,015.
The NFT holder blamed “a lapse of concentration” for the error. He reportedly said:
“I list a lot of items every day and just wasn’t paying attention properly. I instantly saw the error as my finger clicked the mouse but a bot sent a transaction with over 8 ETH of gas fees so it was instantly sniped before I could click cancel, and just like that, $250,000 was gone.”
This means that the buyer spent just 8.75 ETH or $35,000 to pick up Max’s NFT worth $300,000. The seller appears to have taken his mistake quite well. He said:
“The industry is so new, bad things are going to happen whether it’s your fault or the tech. Once you no longer have control of the outcome, forget and move on.”
Silicon Valley Creator Mike Judge Joins NFT Bandwagon
“I love animating, but rather than have to do a whole story, and the whole show or movie… you can't have 10 seconds of animation and have it be a painting on a wall, or a show on TV. I just thought: Wow, this is kind of a perfect way to do that. And it's just fun to do.”
The winning bidder will receive three signed physical sketches along with the NFT.
NFTs as Collateral: Nexo Will Soon Let You Borrow Cash With NFTs
Crypto lending platform Nexo is collaborating with Three Arrows Capital to launch a new crypto credit service backed by NFTs. Similar to the firm’s existing products, customers will be able to use their valuable NFTs as collateral to borrow stablecoins and other digital currencies.
The Nexo NFT Lending Desk is opening this service to pieces from CryptoPunks and Bored Ape Yacht Club, both highly-coveted and expensive NFT collections. More collections will be added to the service in the upcoming weeks.
Nexo co-founder Antoni Trenchev described the initiative as “a definitive move towards providing financial instruments and Web 3.0-native MetaFi,” adding that “NFTs' potential reaches far beyond art, encompassing ownership, exclusive access, functions, and features.”
“As we continue to discover the full scope of this asset class, services like Nexo’s lending will be in high demand to unlock NFTs’ underlying value while allowing users to retain ownership.”
Trouble in Paradise as Hermès Called Out MetaBirkins NFT Project for Trademark Infringement
The issue here is that Hermès does not want people to think that MetaBirkins is an official release from its company. Meanwhile, the collection has raked in nearly $1 million, according to OpenSea.
"Before my collection dropped, there was a bunch of, like, counterfeit NFTs that weren't from my collection."