NFT Mania

July 6, 2021

An NFT Pandemic

NFT mania is very real and very record-breaking. 🏆

According to Reuters, the NFT market scaled to $2.5B in the first half of 2021. This time last year, NFT sales stood at just $13.7M. Ooof. 🥵

The report cited data from DappRadar and showed NFT interest reached new levels during Q1 2021. Since March, sales have totaled 10,000-20,000 NFTs per week— this includes February’s record-breaking $69M art sale. 🚀

The NFT market has swelled so much, some say it’ll burst. Are NFTs here to stay? Or is a bubble burst on its way?? Place your bets… 

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June 28, 2023

FTX Bankruptcy Claim Becomes NFT Collateral For Loan

A creditor from the defunct cryptocurrency exchange FTX has tokenized their $31,307 bankruptcy claim as an NFT. 😱

This NFT, representative of the claim’s ownership, has been leveraged as collateral for a $7,500 loan via the DeFi protocol, Arcade. So far, this is the first-ever on-chain loan underpinned by an FTX claim, as confirmed by the bankruptcy claims platform Found.

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Crypto

May 8, 2023

Binance’s Wild Weekend

Binance, the world’s largest crypto exchange, caused some headaches and FUD over the weekend. 🫣

Binance suspended Bitcoin (BTC) withdrawals twice within 12 hours, leaving users hanging and scratching their heads. 

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NFT Mania

March 14, 2022

Now You Can Buy Lazy Apes and Strange-Looking Humans On One Platform

Two monoliths of the NFT ecosystem – CryptoPunks ($PUNKS.NFT) and the Bored Ape Yacht Club ($BAYC.NFT) – will now be owned and operated by the same company. 

Yuga Labs, the company behind the Bored Ape Yacht Club, has acquired the CryptoPunks and Meebits from developer Larva Labs. While the merger is historically significant, it will create a small “cultural monopoly” in Yuga Labs, which will now own two of the world’s largest, and most important, NFT collections.

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NFT Mania

November 23, 2021

The Art Craze Phase 🎨

The last two weeks have boasted a record for art sales — over $2.6 billion of artwork/collectibles was sold at major auction houses. Experts are citing fears over inflation and the ‘collectibles craze’ (think NFTs) as reasons for soaring sales.

Over the last two weeks, art sales at Christie’s, Sotheby’s and Philips have raked in over $2.65 billion. According to Pi-eX, a data analytics firm specializing in art, this year’s art craze has even topped 2014’s record $2.59 billion worth of artwork sold. Bank of America’s head of specialty segments, Evan Beard, shared:

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NFT Mania

July 1, 2021

FREE NFTs!!!

Social media is no stranger to NFTs. Twitter and Reddit are riding the wave at the moment. 🌊

Recently, Twitter gave away 140 free NFTs through Rarible, a marketplace. Twitter posted seven tweets yesterday showing off the digital art— 20 copies of each going for $0. The pieces were titled “Furry Twitter,” “Vitamin T,” and “Reply Guy,” to name a few.

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NFT Mania

June 1, 2022

Former OpenSea Employee Charged with Insider Trading

The U.S. Department of Justice charged a former OpenSea employee with criminal insider trading. The incident, which took place last September, became a watershed moment for the crypto and NFT ecosystem.

OpenSea’s Head of Product, Nathaniel Chastain, used internal information to make millions of dollars. Namely, he knew which NFT projects would appear on the OpenSea homepage and purchased those assets in advance of their feature. He then sold them for multiples more once they listed.

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