Web 3.0 Woundup – 29/01/23

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This week’s Web 3.0 woundup sees another NFT founder getting tricked into losing his collection, Porsche crashing and burning, and Amazon joining the NFT party with a blockchain game.

Moonbirds Founder Tricked into Huge Loss

Moonbirds creator Kevin Rose this week revealed how he had lost over $1 million in a phishing attack, which utilized the Seaport function on Opensea to mass-sell 35 stolen NFTs. 

Rose’s loss comes on the back of losses from other high profile members of the NFT world, including RTFKT COO Nikhil Gopalani and is a reminder that functions such as Seaport have a downside and that even the most experienced users can get tricked.

Porsche Ditches “Tone Deaf” NFT Collection

German carmaker Porsche this week put its 911 NFT collection up on blocks after the mint recorded low trading volume and attracted extreme dissatisfaction from the crypto community. The closure came less than 48 hours after it started, with less than 25% of its 7,500 collectibles being minted.

Vroom vroom crash.

Amazon Planning to Launch NFT Collection

Retail giant Amazon was this week rumored to be developing a blockchain game powered by NFTs, with its launch expected towards the end of this year. This comes less than a year after the company’s CEO Andy Jassy told CNBC that there’s a possibility that the retailer would sell digital artworks in the future while also observing that the NFT market valuation is expected to continue rising.

Let’s hope it’s a bit better than Porche’s, yeah?