1 year ago
An NFT trader who noticed a bot was copying his trades tricked the bot retired of 800 ETH, worthy astir $1.5 million.
In this week’s newsletter, work astir however the squad down Bitcoin Ordinals plans to thrust the improvement of nonfungible tokens (NFTs) connected Bitcoin and find retired wherefore metaverse level The Sandbox requires Know Your Customer (KYC) checks for staking. In different news, larn wherefore NFT state usage is connected a downward trend, and don’t hide this week’s Nifty News, featuring an NFT trader tricking a bot and bagging $1.5 cardinal successful profit.
Bitcoin Ordinals squad launches nonprofit to turn protocol development
The squad down Bitcoin Ordinals has launched a nonprofit aiming to boost the improvement of NFTs connected Bitcoin. Dubbed the Open Ordinals Institute, the nonprofit volition supply backing for Ordinals developers.
The Bitcoin Ordinals protocol was launched successful January, and it rapidly became 1 of the astir fashionable trends successful crypto. Users rushed to inscribe their assets similar NFTs and Bitcoin-based crypto connected the Bitcoin blockchain.
NFT state usage shows downward trend, signals displacement successful landscape
NFT state usage continues connected a downward trend. On Aug. 3, state depletion of NFT marketplaces similar Blur, OpenSea, SuperRare, LooksRare and Rarible lone accounted for 1.85% of the full depletion connected the full Ethereum network.
Moreover, NFT-related projects that were erstwhile apical state users connected the Etherscan charts are present not listed. This indicates a imaginable displacement successful NFT use, wherever users whitethorn beryllium holding their NFTs alternatively of actively trading.
The Sandbox implements KYC measures for protocol staking
Metaverse task The Sandbox volition instrumentality a KYC verification protocol for staking. According to an announcement, lone KYC-verified uscane to deposit The Sandbox (SAND) tokens and assertion staking rewards.
On-chain analytics steadfast Messari’s information shows that 6.7% of SAND’s circulating proviso — astir 123 cardinal tokens — is presently staked by users. According to the metaverse platform, the determination aims to heighten idiosyncratic information and compliance.
Nifty News: Trader nabs 800 ETH by baiting a bot, NFT thefts dilatory and more
NFT trader Hanwe Chang tricked a bot into copying his trades, resulting successful a nett of 800 Ether (ETH), worthy astir $1.5 million. The NFT trader noticed that the bot was copying his bids. Because of this, the trader tricked the bot into buying his inflated NFTs.
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