money / 85 posts found
Nomad Offers Hackers a Chance at Redemption, Entices Them With NFTs
The Alpha Following the discovery of a security loophole in crypto bridge Nomad’s systems, hackers stole more than $190 million in crypto on August 1. Nomad issued a 10 percent bounty for its stolen funds as part of its damage control efforts. Should a hacker return 90 percent of their stolen crypto, they’re entitled to keep the rest. Nomad also promises not to pursue legal action against these ‘white-hat’ hackers. In partnership with Metagame, Nomad is now also offering NFTs to remorseful hackers, if they return stolen crypto. Why it matters Community reception to Nomad’s announcement has been mixed. If […]
Looking for Liquidity? Here’s Everything to Know About NFT Lending
The last 24 months have been a whirlwind for NFT enthusiasts, with unprecedented demand for digital ownership creating a new and exciting asset class right before our eyes. But eventually, all new toys lose their shine. And after a crazy period of buying, selling, and trading NFTs, investors seek new ways to leverage their assets. Enter the rise of fractionalized ownership, staking, and NFT’s hottest new sector: lending. You read that right. People are lending their relatively-illiquid JPEGs for instant payouts in crypto and cash. And it’s become a massive sector of the market. I have never seen a more […]
Should NFT Creators Expect Royalties? Sudoswap Says No
Creator royalties have remained a prominent facet of the NFT market for years. Even in the early days of the Web3 creative economy, artists of all creeds could sustain themselves through a mix of income from primary sales and kickbacks received via secondary market royalties. Yet, while creator royalties seem crucial, they aren’t hard-coded into the market — much less individual smart contracts. Creator royalties, sometimes called creator fees, are an option only implemented to reserve a certain percentage of each secondary sale (peer-to-peer trades), which is sent back to the NFTs originator. When collecting on secondaries, most collectors have […]
The 20 Most Expensive NFT Sales of All Time
We’ve come a long way since the first NFT, Quantum, was minted in 2014. Since then, projects like CryptoKitties, Rare Pepes, and CryptoPunks have revolutionized the industry — both creatively and financially. NFT sales have skyrocketed, and many of the most famous NFTs have brought in millions of dollars. But when it comes to expensive NFTs, just how high can the numbers get? It’s difficult to say, since the NFT ecosystem is growing and evolving rapidly. And as time goes on, many new artists are becoming millionaires, with progressively more celebrities spending seven figures on Bored Ape Yacht Club NFTs […]
8,000 Solana Wallets Attacked in a Multimillion Dollar Hack
Late Tuesday evening, scores of Solana suddenly found their crypto wallets completely drained of their digital contents. Unidentified hackers had broken into thousands of hot wallets — software-based crypto wallets that require an active connection to the internet — and arranged for the transfer of all funds in these wallets to an unknown third party. Solana initially confirmed the hack in a Tuesday night tweet, saying: “Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on Solana. There is no evidence hardware wallets are impacted.” Then Solana made a follow-up tweet early Wednesday morning, […]
Half of ETH Raised From Primary NFT Sales Stayed in the Space. Here’s Why
The blockchain’s immutable record provides unique opportunities to study the crypto and NFT ecosystem. Specifically, looking at money flow through the network can be a helpful lens on current dynamics in the NFT and crypto space. And, NFT market participants spent roughly $2.7 billion (963,227 ETH) minting NFTs between January 1 and June 30 of this year, according to a recent report by the blockchain analytics platform Nansen. During that time, 50.7 percent of the ETH raised from a project’s primary sales stayed in the NFT communities. Another 45.7 went to non-entity wallets, which the Nansen team defines as addresses […]
Japan’s Central Bank Has Abandoned Its Digital Currency Plans
The Bank of Japan (BoJ) is scrapping its planned host of central bank digital currency (CBDC) services due to a reported lack of public interest, according to an initial report from Asia Times. Among other things, this means one aspect of Japan will remain unchanged since the Japanese bubble economy of the 1980s: its reliance on conventional, fiat-based currency. This move came despite the promise of CBDC, which could be the first truly peer-to-peer digital form of conducting money transactions, as existing digital wallets still require the presence of intermediary institutions like financial institutions, issuing and acquiring banks, payment service […]
Ready to Audition Your Bored Ape Brand? A Crypto Exchange Beckons
While still a new and relatively undeveloped concept in Web3, the NFT market continues to grow, with NFT rentals forming a new economy within the blockchain ecosystem. NFT rentals aim to address the question of reliable income with NFTs, in a bid to offer more than speculative price increases. Instead of letting your digital assets sit idle in your wallet, proponents argue, why not rent them (and their utility) out and earn passive income in the process? MouseBelt Labs, for example, recently developed a platform for NFT rentals called BoredJobs, which is essentially a licensing marketplace that lists thousands of Bored […]
Can Innovation Trump a Bear Market? Here’s What We Know
On April 18th, 2020, when business and consumer morale were low at the height of the pandemic, tech titan Marc Andreessen published a blog post whose title deployed four poignant words: It’s time to build. The corresponding article criticized the United States for its poor preparation for a worldwide pandemic, chalking it up to the country’s lack of desire to “build” the infrastructure and physical footprints needed to withstand such a sudden black swan event. The post ends by encouraging all readers to build because it’s the only way to “honor the legacy of our forefathers and foremothers and to […]
HUSL NFT Project Will Help Users Start Their Own Businesses
While growing in variety, scope, and utility, NFTs and Web3 tools can become overshadowed by the flashy side of digital art technology. Purchasing and managing your website’s domain name on Ethereum Name Service might be helpful, but it’s just not as sexy as dropping or buying into a colorful PFP collection. Despite those optics, there are plenty of project developers actively exploring ideas on how to use NFTs in myriad ways. One up-and-coming business-related project is HUSL NFT. It’s a collection of 5,000 fully-automated software-as-a-service businesses wrapped and sold as NFTs. You’re probably not alone if you’ve raised an eyebrow […]