Web3 Weekly Wrap-Up: Paradigm's Blast Protocol Skepticism, $386K NFT Heist Resolution, and Ronaldo's Binance NFT Lawsuit Fallout...
NFT Weekly News #32 27th Nov- 3rd Dec
NFT News Weekly Update #32
(27/11/2023-03/12/2023)
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 🔝
📌Web3 |Paradigm Critiques Blast Protocol Amid High Token Lock-In (Nov 27)
Blast Protocol, securing over $550 million in tokens, faces criticism from its investor Paradigm for its launch strategy and execution. Despite concerns about it being a Ponzi scheme, Blast defends its sustainable yield sources and addresses security issues related to its use of a multi-sig wallet. Optimism persists in the community for future developments.
2023 Dec 5 update: TVL / $726,353,502
📌NFT|Sim-Swapper Linked to $386K NFT Heist Sentenced (Dec 1)
Amir Hossein Golshan, identified by ZachXBT as the thief in a $386,000 NFT heist involving Cameo CEO Steven Galanis, has been sentenced to eight years for sim-swapping and hijacking Instagram accounts. Through detailed analysis, ZachXBT connected Golshan to the theft and subsequent sale of a high-value Bored Ape NFT. The conviction brings relief to the NFT community, with the stolen NFT now owned by Tokapi marketplace founder Dominik Myczowski.
📌Web3|Ronaldo Faces Lawsuit for Binance NFT Promotion (Nov 29)
Cristiano Ronaldo is being sued for promoting Binance-linked NFTs, accused of aiding the sale of unregistered securities. The lawsuit contends his endorsements influenced users to invest in Binance's alleged unregistered securities. This legal action coincides with Binance's own regulatory troubles, including a significant settlement and an ongoing SEC investigation.
Market Update 📣
To find out more about the notable NFT sales for the week, please click on the link below.
Other News 👀
Web3|Portalcoin Rises as Web3 Gaming Token (Nov 29)
Portalcoin, aiming to onboard a billion gamers into Web3, has sparked a trend on crypto Twitter with its gamified content creation approach. Despite concerns over marketing tactics and reputation impact, it has gained notable attention, promising strong utility and significant partnerships in the Web3 gaming sector.
NFT|Buterin Cards Spike Ethereum Gas Fees (Dec 1)
The Buterin Cards NFT project, featuring Vitalik Buterin, caused a temporary spike in Ethereum gas fees. It became the blockchain's top gas consumer by minting 2,015 NFTs using JPEG mining, leading to transaction fees of over $665,000 in 24 hours. This method uploads actual image data onto the blockchain, differing from standard NFT practices.
NFT|CoinGecko Acquires NFT Data Startup Zash (Nov 22)
CoinGecko, a crypto data aggregator, has purchased NFT data startup Zash, marking its first acquisition. The deal, with undisclosed terms, aims to enhance CoinGecko's NFT data offerings by integrating Zash's data from 87 marketplaces across several blockchains. The Zash team will join CoinGecko as part of the acquisition.
Web3|Magic Eden Launches Cross-Chain Crypto Wallet (Nov 27)
Magic Eden has launched a multi-chain compatible crypto wallet extension for Google Chrome, aimed at simplifying interactions across Bitcoin, Ethereum, Solana, and Polygon blockchains. The self-custodial wallet, focusing on decentralized control, plans for Safari and mobile versions. It includes features like cross-chain swaps and fiat-to-crypto transactions, balancing security with potential future user-friendly additions.