A comprehensive study has unveiled that the vast majority of Non-Fungible Tokens (NFTs), once the darlings of the digital asset world, have plummeted to zero value, leaving nearly 23 million people holding onto worthless digital collectibles. According to market data, 95 percent of all NFT collections now have a total market value of zero.
Investors who purchased Bored Ape Yacht Club NFTs at highly inflated prices during the 2021 NFT craze have filed a lawsuit against the Sotheby’s auction house and other defendants, alleging deceptive practices. The Bored Ape co0llection, like most NFTs, have cratered in values in the years since the craze.
Former first lady Melania Trump is releasing another round of non-fungible tokens (NFTs), which are part of the “1776 Collection,” just in time for the Fourth of July weekend.
UK Prime Minister Rishi Sunak’s Great Reset-style plans to introduce a government-backed NFT have beed dropped, the Royal Mint announced.
Hollywood celebrities looking to make a quick buck endorsing cryptocurrency or NFTs are now being told to think twice as angry consumers who experienced losses are taking the stars to court.
YouTube star Logan Paul has denied recent allegations made by fellow YouTuber Stephen ‘Coffeezilla’ Findeisen that he scammed buyers of his CryptoZoo NFT project and never planned to deliver the promised game. Paul has threatened to sue Findeisen for defamation over his videos exposing the extent of the CryptoZoo fiasco.
Former President Donald Trump’s digital trading cards — which he originally teased as a “major announcement” — sold out within hours, according to reports.
A slew of high-profile Hollywood celebrities including Madonna, Gywneth Paltrow, and NBC’s Tonight Show host Jimmy Fallon are reportedly being sued in a proposed class action suit for promoting an NFT art collection, with plaintiffs alleging they were misled into buying “losing investments at drastically inflated prices.”
CNN is being accused of “rug pulling,” abruptly ending a project after building interest, by the crypto community after announcing it is abandoning its new NFT project, Vault. “We have decided that it’s time to say goodbye to Vault by CNN,” the company said.
The trading volume of non-fungible tokens (NFTs) has cratered by 97 percent from a record high in January 2022 according to Bloomberg.
The verified Twitter account for the British Army was taken over by hackers who used it to promote NFTs and announce a fictitious attack on the Islamic Republic of Pakistan.
Microsoft founder Bill Gates recently discussed cryptocurrency and NFTs, stating that the asset trends are “100% based on greater fool theory.” Gates added, “I do think people get bought into these manias, who may not have as much money to spare. So I’m not bullish on bitcoin.”
In recent months, NFTs (non-fungible tokens) have become increasingly popular with many celebrities promoting their own NFTs. Now, many fans who invested in digital tokens promoted by their favorite stars are financially “crippled.” One investor believes that celebrities “took their payouts and moved on while everybody who scraped by to invest in their futures got robbed.”
Madonna is the latest celebrity to join the NFT craze and is using the project to raise money for a national bail fund that springs people from jail.
The UK’s Royal Mint has been tasked by the Treasury Department to create an NFT in the latest move towards a cashless society.
Federal authorities have charged two men with fraud and money laundering in relation to an NFT “rug pull” scam. Two men allegedly pocketed $1.1 million from investors hoping to strike it rich in the NFT crypto gold rush, only to disappear in the money.
Hackers reportedly stole hundreds of non-fungible tokens (NFTs) from users of NFT marketplace OpenSea over the weekend, including NFTs from popular collections like Decentraland and Bored Ape Yacht Club.
Google-owned YouTube, the largest video hosting platform in the world, may potentially branch into NFTs, according to a letter sent by CEO Susan Wojcicki to the platform’s community.
Digital real estate in the metaverse is reportedly being sold for millions of dollars in some cases as more people buy into the hype of digital reality. One investor spent $450,000 to be the virtual neighbor of rapper Snoop Dogg.
Theft of NFTs (Non-Fungible Tokens) appears to be on the rise, with many collectors losing millions of dollars as a result. In one recent example that led to widespread mockery, an NFT investor complained “all my apes are gone,” referring to the popular “Bored Apes” and “Mutant Apes” NFTs they had invested in.
Melania Trump is previewing the second of her Non-Fungible Token (NFT) auctions, along with the auction of an original watercolor painting, and the Hervé Pierre hat worn and signed by the former First Lady during the first formal State visit of
An NFT drop celebrating infosec pioneers has caused anger in the crypto space due to using unauthorized portraits of the infosec experts it aimed to celebrate.
Legendary musician Brian Eno, known for his contributions to electronic music and collaborations with David Bowie, recently discussed the concept of Non Fungible Tokens (NFTs), expressing his skepticism over them and cryptocurrency in general. Speaking to an interviewer, Eno said: “People I like and trust are convinced they’re the best thing since sliced bread, so I wish I could have a more positive view, but right now, I mainly see hustlers looking for suckers.”
The former First Lady, Melania Trump, has entered the NFT market.
The world of blockchain and cryptocurrencies, which is often presented as a censorship-free zone by its advocates, is currently in the midst of a censorship controversy surrounding OpenSea.io and Rarible.com, two leading marketplaces for Non Fungible Tokens (NFTs). Both have banned political cartoonist Stonetess and his popular “Flurks” NFTs.
In recent months, many celebrities have attempted to cash in on the recent NFT craze, but for some, it has turned out to be less than profitable. Pro-China actor and wrestler John Cena described an NFT project he was involved in as a “catastrophic failure.”
Universal Music Group NV, the world’s largest music company, is reportedly creating a band out of four digital NFT apes. One executive explained: “You can call it an NFT band, or think of them as characters. The characters will come to life. The apes will come to life.”
