NFT Weekly News #16
31th July - 6th Aug, 2023
NFT News Weekly Update #16
(07/31/2023-08/06/2023)
GM
Welcome to NFT Weekly News by Threekeyslab🗝️🗝️🗝️. Here you can find the latest curated news📰in the NFT world. Every week, we aim to provide a selection of the most interesting news and events that are fostering the development of the NFT world.
The NFT field is constantly evolving, and this article will review last week's Top🔝NFT news. Let's take a look👀together!
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Top News 🔝
📌NFT|NFT Lending Platform JPEG'd Suffers Hacker Attack, Estimated Loss Over $10 Million (July 31)
Security firm PeckShield reported that NFT lending platform JPEG'd may have been targeted by hackers, resulting in a 40% drop in JPEG token value in a short time. Another security agency, Beosin, estimates the attack caused a loss of at least $10 million. The fundamental cause of the attack on JPEG'd was due to a reentrancy issue. Attackers exploited this by removing and adding liquidity in a specific sequence, leading to incorrect price calculations.
Update: According to MistTrack monitoring, the attacker of JPEG'd has potentially returned all 6106.75 ETH to the project team.
📌NFT | Rare Atty Bino Punk sold to (twitter :TokenAngels) for a 500e (Aug 4)
Click the link above to know more.
📌NFT|Doodles Announces Collaboration with Crocs (Aug 6)
Doodles, an NFT project, has announced a partnership with global innovative casual footwear brand Crocs. The collaboration is set to launch in August, featuring shoes, wearable devices, and 'jibbitz'.
Market Update 📣
To find out more about the notable NFT sales for the week, please click on the link below.
Other News 👀
NFT|Copytrader asks for "stolen" funds back after someone tricks their bot (Aug 6)
NFT trader Hanwe Chang exploited a bot mimicking his bids, leading it to overpay for Azuki NFTs by placing an exaggerated 50 ETH bid. He profited 800 ETH (~$1.45 million), depleting the bot's funds. The bot's operator accused Chang of theft on Twitter, offering a 10% "bounty" for a return of the funds and hinted at possible legal action.
Web3| Cryptocurrency 'Cults': Identifying Future Fervent Projects
Zen from PANews describes cryptocurrency communities with unwavering belief as 'cult-like'. They hold onto assets despite market fluctuations, focusing on long-term vision over short-term prices. Successful crypto trends often have unique themes that resonate with many, like the nostalgia-driven Y2K aesthetics appealing to Web3 participants.
NFT| Yuga Labs Acquires Roar Studios to Help Build Otherside Metaverse (July 31)
Yuga Labs has acquired metaverse startup Roar Studios to enhance its Otherside metaverse. Roar Studios offers a unique platform where artists and fans engage in real-time media experiences. The acquisition aligns with Yuga Labs' vision of expanding its metaverse offerings, with both companies looking forward to a collaborative future in redefining metaverse experiences.
NFT| $540k loan taken against 19 CryptoPunks at 5% on Arcade (Aug 3)
A user borrowed $540,000 against 19 Cryptopunks at a 5% APR. Originally claimed for approximately $40 in 2017, these punks now secure him a loan with a better interest rate than a traditional home loan. The borrower also has over 100 other punks he uses as collateral in the crypto world.
NFT| "Wreck League" to Feature Bored Ape Yacht Club in NFT-Driven Mech-Fighting Game (Aug 4)
Game developer nWay, under Animoca Brands, is launching "Wreck League", a 3D mech-fighting game incorporating characters from Yuga Labs' Bored Ape Yacht Club and other Ethereum NFT collections. Set for a September release, the game will be available in both NFT and free-to-play versions. While starting with 1v1 battles, expanded team battles are planned for the future. Players can create mechs using Ethereum NFTs, offering a new dynamic to in-game assets. The game will support cross-play across multiple platforms.