Frend.tech: A Social Media Game Changer or Just a Flash in the Pan?
The recent launch of Frend.tech has sparked quite the buzz in the crypto world. With over 100,000 users jumping on board since its beta debut on August 11, the platform is making waves. Influential figures like gaming YouTuber Faze Banks and the protest group Pussy Riot have jumped in, but will this ride go off the rails? Many skeptics are saying that the hype might just be a ticking time bomb. “I give it six to eight weeks,” they say, evoking a reality check amidst the excitement.
OpenSea Says Goodbye to Royalty Enforcement
Meanwhile, the NFT powerhouse known as OpenSea is winding down its royalty enforcement tool on August 31. This tool, aptly named Operator Filter, allowed creators to banish non-royalty respecting marketplaces from their sales. Creative communities are buzzing about how this change might affect the ecosystem, with Yuga Labs announcing they’d no longer support OpenSea’s operations for new collections. Talk about rocking the boat!
Sotheby’s Gets Called Out in Bored Ape Lawsuit
No one wants to be caught in a legal web, but fine arts auction house Sotheby’s finds itself ensnared in a class-action lawsuit involving Bored Ape Yacht Club (BAYC) investors. These investors are raising eyebrows over allegations claiming Sotheby’s helped Yuga Labs create an illusion of inflated NFT values. The drama continues to unfold, bringing new meaning to the phrase ‘all publicity is good publicity.’
Bitcoin Ordinals: A Trading Plunge to Remember
In a jaw-dropping twist, DappRadar reports a staggering 98% drop in trading volume for Bitcoin Ordinals NFTs since May. Selling peaks hit $452 million and have now plummeted to a paltry $3 million. User activity has shrunk dramatically, with transactions diving 97%. With such a steep decline, one has to wonder what happened to all those buyers!
The Ordeal of Project Orica: Charity or Con?
Last but not least, the heartbreaking tale of Orica reveals the complexities of blockchain-based charity. Initially perceived as a benefactor for artists and various causes, its founders seem to have vanished with the project’s interface offline. While users suspect foul play, co-founder Danial Zey claims a hack is to blame. Is this a tragic case of charity gone wrong, or are we looking at a classic rug pull? Only time will tell!
Thanks for catching up with the week’s crypto chronicles. Make sure to swing by next Wednesday for more juicy tidbits on this evolving NFT landscape!
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