NFT in brief: a weekly review

There has been a lot of talk around NFTs from large investors this week. However, some believe that regulation is on the horizon as we head into 2022. Meanwhile, a huge NFT art collector has had over $ 2 million stolen from NFT, and a heated debate s is followed.

Sure, it’s a holiday week, but we’re still opening up the latest NFT news from last week. As we dive into the New Year, let’s close the books of 2021 with a final report of all of this week’s NFT actions.

News of this week’s non-fungible tokens

Government repression? Hoskinson thinks it’s imminent

Cardano founder Charles Hoskinson was featured in an hour-long YouTube video to close 2021, discussing the past, present and future of Cardano and crypto in general.

Hoskinson compared what he sees as impending crackdowns on NFTs and DeFi as comparable to ICO crackdowns from regulators in 2018 and 2019.

More than $ 2 million in stolen monkeys lead to heated debate over centralization

In one of Bored Ape Yacht Club’s biggest flights to date, Todd Kramer, Twitter user and NFT art collector reported this week that he had lost over $ 2 million from NFT Bored Ape and Mutant Ape – 15 or 16 in total. It has since partially recovered some of the NFTs, but the story has not come without its fair share of drama, as reports have revealed that OpenSea has frozen some or all of the stolen assets.

These reports have led to heated debates over the degree of centralization that should exist on the blockchain. Kramer claimed that a phishing scam gained access to his hot wallet (i.e. Metamask wallet or something similar). Kramer has a long series of tweets surrounding the incident which have since been deleted.

OpenSea bans monkey scams

Meanwhile, as chatter ensued this week around the control OpenSea should have over individual trades and NFTs, the platform banned two Ape Club copiers, both named the Phunky Ape Yacht Club – referred to as PAYC and PHAYC.

Both projects took BAYC’s original designs and returned them, and both sold out within hours of the initial launch. A community member of one of these spinoff projects described it as “a satirical take on the current state of NFT”.

Related reading | The number of cryptocurrencies increased by almost 100% in 2021

Square Enix: bullish on NFTs?

NFTs in games have been a hot topic, with some publishers and creative game companies choosing to put the brakes on, while others have shown willingness to be a bit more aggressive. Japanese video game company Square Enix, best known for its creation of Final fantasy and Kingdom Hearts, could position itself to get involved after recent statements by President Yosuke Matsuda.

Matsuda said he “expects to see a possible resizing of digital goods offerings as they become more common among the general public, with the value of each available content corrected to its true estimated value,” and… seek them to become as familiar as the transactions of physical goods.

Matsuda has also been optimistic in game-to-win and blockchain-based games, saying that “the engine that most enables … the autonomous growth of games is diversity, both in the way people s ‘engage with interactive content like games, and their motivations for doing so. . Advances in token economies are likely to give new impetus to this trend towards diversification. I see the “play to win” concept that gets people excited as a prime example of this. “

Solana NFTs have been a signature #2 behind Ethereum, but with increasing amounts of projects launching on the blockchain, such as this week's NFT marketplace Fractal, how long would it take to flip ETH-based NFTs? | Source: SOL-USD on TradingView.com

Feelings of Ray Dalio and Kevin O’Leary

There has been quite a bit of gossip this holiday week around NFTs between big personalities, and billionaire Ray Dalio can be added to the list. In an interview this week, Dalio noted that not all projects would last, comparing NFTs to the early days of the Internet. Dalio added that he believed “NFTs … can become a type of money that could eventually make people say,” I’d rather own it than Bitcoin. “”

Meanwhile, in an interview with Forbes this week, Kevin O’Leary shared similar sentiments about NFTs, stating, “I think non-fungible tokens are going to be bigger than bitcoin” and that he thinks that “2022 will be the year of the NFT.

Twitch Co-Founder Launches NFT Gaming Marketplace

Twitch co-founder Justin Kan officially launched his gaming-focused NFT Marketplace Fractal this week. Fractal uses the Solana blockchain and hosts digital products and seeks to facilitate cross-game assets. Fractal has partnered with leading blockchain-based games to do this. The move was first announced by Kan in early December.

Related reading | Crypto Regulations Newsletter: Slow 2021, SEC slower. Review

Featured image from Pexels, Charts from TradingView.com


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