It’s Saturday, which means only one thing – it’s time for an NFTastic review of the crazy shenanigans in the NFT world this week. Now straighten up and fly right.
Madonna’s…Intimate Collection Raises Masses for Charity
Nobody can forget that video of Madonna getting…sorry, giving birth to a tree, but the stain of unpleasantness can now be washed merrily away with the news this week that the “Mother of Creation” NFT project generated primary auction sales over 300 ETH, with the proceeds going to charity.
The “Mother of Nature” NFT (i.e. that video) was the most sought after of the three released NFTs, selling for 170 ETH, with the other two, named “Mother of Evolution” and “Mother of Technology” respectively, sold for about 130 ETH combined.
Madonna and the co-creator Beeple have committed to giving over $612,000 raised from the auction to charity.
Now, please, never again.
massive thanks again to @Madonna this was an amazing experience and massive, massive honor!!! 🙏
— beeple (@beeple) May 14, 2022
$438k Worth of Assets Lost After Beeple Twitter Hack
Beeple was in the news again this week after his Twitter account was hacked on Sunday while he slept in his gold four poster bed (joke). The hackers posted two separate links regarding a Beeple and Louis Vuitton collaborative NFT mint, with eager beavers clicking on links and confirming wallet access like there was no tomorrow. Unfortunately, this led to their wallets getting rinsed of both NFTs and ETH and no Louis Vuitton NFT to make it better.
News of the hack was quickly spread among the NFT community, and Beeple eventually got back control of his account with the help of Gary Vaynerchuk and his team. Victims reportedly lost about $73,000 worth of ETH, alongside assets from the Mutant Ape, VeeFriends, and Otherdeeds collections, among others.
So, what have we learnt? Exactly.
Stay safe out there, anything too good to be true IS A FUCKING SCAM.
And as side note, there will never be a SURPRISE MINT I mention one time in one place starting at 6am Sunday morning. 🤦♂️
— beeple (@beeple) May 22, 2022
OpenSea Shakes Things up With Seaport Protocol
OpenSea’s dominance of the NFT high seas is under threat from the likes of Coinbase and Binance, meaning that the current rules of the waves has been looking for ways to fend off the competition. To this end it has launched Seaport, an open-source, decentralized marketplace that allows users to safely and effectively buy and sell NFTs.
With the Seaport Protocol, OpenSea is changing how NFTs are traded. Traders who use the Seaport will be able to post offers for NFTs, including ERC20, ERC721, and ETH, instead of just trading NFTs for ETH, as is the case today.
As an example, traders using the Seaport Protocol could trade their BAYC NFT in for a collection of NFTs or other assets instead of trading it in exchange for ETH alone. The open-source structure of the protocol is revolutionary, and it will afford the developer community access to a protocol that they can build on.
Suddenly, the fact that you can talk shit about some NFTs on Coinbase doesn’t seem to matter that much does it?
Opensea announced something MAJOR today – they created a protocol for NFT marketplaces called Seaport
Here’s what it means, why it’s big for decentralization and how this radically changes how we buy/sell/trade NFTs
— atareh.eth ⌐◨-◨ (@atareh) May 21, 2022
Ebay Enters the NFT Fray
As if OpenSea didn’t have enough competition, now the auction site of yesteryear is getting involved. Ebay (ask your parents) this week announced a partnership with the environmentally conscious platform OneOf to launch a Sports Illustrated/Wayne Gretzky NFT collection to kick off its NFT journey.
The Wayne Gretzky NFTs, most of which are actually pretty cool animations, are available for purchase on eBay’s marketplace for $10 to $1,500. The NFTs can only be purchased with fiat, as eBay is yet to embrace cryptocurrencies as a payment method for its platform. Once the sale is confirmed, eBay will mint a link to the address connected to the account and email it to the buyer, after which the NFT will be fully tradable on OneOf’s platform.
Many predict that it won’t be long before Ebay will support the trade of NFTs on its site, but they’re not all that smart because they’ve already said so.
— OneOf (@OneOfNFT) May 23, 2022