The renowned German car maker, Porsche put a halt to its NFT minting initiative, after facing an onslaught of criticism from followers of its brand, across social media. The tokens were each replica of the Porsche 911 model holding a price of 0.911 ETH, or around $1,400 each. Users across social media lashed out against the company for not thinking through a sound web3 strategy while rushing to capture gains from the world of NFTs. Those that did come under minting, amounted to 1,818, of the 7,500 intended, and performed terribly throughout secondary platforms such as OpenSea.
In what is becoming a rapidly growing list of victims of prominent crypto figures, Kevin Rose has become the most recent to have been part of a hacking attack and NFT theft. The co-founder of Moonbirds Creator Proof alleged that his Ethereum wallet came under the compromise, and up to 40 NFTs saw swiping by the hackers. These totaled about $1 million in total worth, and deliver a substantial blow to net worth Rose. According to a recent series of tweets, the attack was carried out in a classic phishing approach, by pulling the victim into a false sense of security and subsequently acquiring his digital signature.
The up-and-coming gaming NFT marketplace, Fractal recently made headlines after an announcement claiming an expansion to the Polygon network. Fractal, which was a closely followed platform in the NFT space will be seeing a boost in its exposure and accessibility as a result of this venture and will be closer to entering the mainstream. The platform was the brainchild of Justin Kan, a co-founder of the popular game streaming site, Twitch.
NFTs to Watch
Proceed w/ Caution NFT
The Proceed w/ Caution (PWC) collection is currently in the market spotlight, with NFT traders rushing to get a hold of these exciting tokens. The trade volume of this art-based collection amounts to 1860 ETH, and indicates the high level of interest surrounding it.
The project is the brainchild of the digital creator and artist, Lucrece, who had been working on these lovable monsters for over two years. The collection is highly interesting, in the sense that it has a complete color coding, with each color representing a different NFT phase, and hence a unique valuation.
Seize the Meebs NFT
The ‘Seize the Meebs’ NFT project has been performing tremendously in recent days, seeing its floor price more than triple, as a result of the growing interest surrounding it. Total volume for the collection currently exceeds 690 ETH.
This collection rests on four fundamental principles, which are: Provenance, Utility, Mass Appeal, and ‘Metaversability’. One reason why this NFT collection is seeing surging interest is the additional wave of minting which will be taking place later today. The market, therefore, seems to be rushing Meebs before bulls drive up its value amid the growing hype.