NFT Collector Destroys $129K CryptoPunk, OpenSea Pro Launched, and SushiSwap hacked.
W/ more news from Reddit, Adidas, Amazon, The Rolling Stones, Ralph Lauren,...
It's been a while since I last sent out a newsletter, and I apologize for the radio silence. After attending NFT Paris, my schedule became jam-packed with various activities such as relocating to another country, re-launching an affiliate blog, and preparing for an exciting pitch that I'll share more details about soon.
Although my schedule has been hectic, I've been closely following the fast-paced developments in the Web3 sphere and have condensed the most significant events from the past few months ... in this newsletter!
Next to this, some notable events have occurred in the social media world; Twitter and Substack have been involved in a feud, which has resulted in my inability to share my newsletter on Twitter or include any tweets in the newsletter. My plan is to observe the situation to see how it unfolds in the long run before I start looking for solutions.
Lastly, I'm excited to announce that NFT NYC is just around the corner! As usual, I've created an NFT NYC travel guide, a schedule of NFT NYC side events, and a Telegram chat group for anyone who's planning to attend NFT NYC. 🗽
Without any more delay, here's a rundown of everything you might have missed in the past few weeks. If you've missed my newsletter as much as I have, don't hesitate to let me know!
As always, let’s start off with some interesting reads:
— 🩸💀 AMERICAN RADASS
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OpenSea Rebrands Gem to OpenSea Pro
OpenSea has announced the rebranding and "polishing" of its NFT aggregator Gem V2 as 'OpenSea Pro,' which it says is the fastest and most powerful NFT marketplace aggregator currently available.
The platform offers a massive level of optionality, selection, and control for pro collectors and has been upgraded from Gem's previous designs to provide a larger and more reliable suite of features to help collectors discover the best deals across 170 different NFT marketplaces.
NFT Collector Destroys $129K CryptoPunk
Crypto investor Brandon Riley reported he had “accidentally burned” CryptoPunk #685. The health, fitness, and finance influencer was trying to wrap his CryptoPunk NFT.
Wrapping extends the smart contract functionality of the NFT so that it can be listed to trade on Ethereum NFT markets. That includes popular NFT exchanges such as OpenSea and Rarible.
But the NFT collector made a tragic mistake, entering an incorrect address while following the instructions to wrap his NFT for the first time. As a result, he irretrievably sent his NFT to nowhere, destroying a third of his net worth from investing in cryptocurrency.
SushiSwap hacked; 'revoke all chains'
Decentralized exchange SushiSwap has fallen victim to an exploit, which led to the loss of more than $3.3 million from at least one user, known as 0xSifu on Twitter.
The exploit involves an approve-related bug on the RouterProcessor2 contract — which PeckShield and SushiSwap Head Chef Jared Grey recommend revoking on all chains.
📰 OTHER NEWS FROM THE PAST WEEKS
Reddit Avatar’s Drop, season 3, is taking place today, the 10th of April. This announcement about the 3rd generation of Reddit NFTs is receiving positive feedback from the online discussion forum participants.
Yuga Labs is partnering with Gucci and has launched Otherside-Themed Jewelry
PROOF has announced its next art venture 'Moonbirds: Diamond Exhibition'; a 10,000-piece digital art collection featuring works from 22 highly talented digital artists, including Beeple.
Decentraland Metaverse Fashion Week attendance plummets 76% amid ‘worrisome’ trading volume
FTX stored private keys to its crypto wallets on AWS, highlighting the disorganized storage of billions of dollars worth of crypto assets.
Solana announced the introduction of state compression, a new feature that will significantly reduce the cost of minting NFTs.
The fees on LooksRare, a marketplace for NFTs, have been reduced by 75% as part of the platform’s update to version 2.
London loses ground to Paris in battle for crypto conference crown, as Both Token2049 and Blockworks' Digital Assets Summit have decided not to return to London.
Y00ts NFT collection finds its new home on Polygon after leaving Solana
Adidas plunges deeper into NFTs by launching Adidas ALTS. This was accompanied by an event in Berlin that took place on the 25th of March.
Riot Platforms is pushing back against a ‘Misguided’ Texas Mining Bill
As of the end of the first quarter of 2023, Russia ranked as the world’s second most powerful Bitcoin mining provider.
Bob Lee, a former chief technology officer of Square and founder of
Cash App, has died after a stabbing in San Francisco.
The chief operating officer at video game company Activision Blizzard has officially stepped into the CEO role at Yuga Labs.
Coinbase tests Chatgpt AI Assistant for Token Risk Analysis
✨ NEW IN THE SPACE
Amazon’s upcoming NFT marketplace will be on a private blockchain, though future multichain compatibility is not yet ruled out
The British rock band The Rolling Stones will unveil 40 photos linked to NFTs, focussed on “historical moments captured from various tours over the 1960s-1990s” and be priced between $199 to $300.
Storied American fashion brand Ralph Lauren has announced the opening of a new "Luxury Concept" store in downtown Miami and along with it several Web3-facing integrations.
Ticketmaster has launched a feature that allows artists to grant NFT owners special access to events, marking another use case for the evolving technology powering digital collectibles.
NFT airline tickets are beginning to take off; Technology startup TravelX is helping an Argentinian airline offer NFT tickets to its customers
Open exchange, or “OPNX,” the crypto exchange created by Su Zhu and Kyle Davies, the founders of the bankrupt cryptocurrency hedge fund Three Arrows Capital has officially launched.
💀 RUG PULLS
A number of DeFi protocols that have suffered attacks over the past year have been able to successfully recover at least part of their stolen funds, due in part to post-attack-negotiated bounty offers.
Terra Luna Classic’s DeFi Project Terraport Hacked, 15 Billion LUNC Stolen
🤓 DISCLAIMER: NFA & DYOR
This newsletter is a curated overview of the most exciting things I’ve read the past week, the projects I’ve researched, and the NFTs I’ll be trying to buy.
This means I’m - per definition - biased, so don’t consider this as financial advice, and keep doing your own research if you see something you like.