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eBay teams up with OneOF to release the first-ever “Genesis” NFT collection

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Multinational e-commerce giant eBay unveiled a series of exclusive NFTs in collaboration with OneOf, a green NFT platform for communities across music, sports, and lifestyle.

Dubbed as the “Genesis” NFT Collection, the highlights include 3D and animated interpretations of the iconic athletes featured on Sports Illustrated covers over the years, the first of which features record-breaking Canadian hockey legend, Wayne Gretzky.

As per the press release, the collection comprises thirteen limited-edition digital collectibles such as green, gold, platinum, and diamond tier NFTs. Each NFT whose price starts from $10 features a 3D rendering or animation of Gretzky with an iconic pose on the ice.

Speaking on its first NFT partnership, Dawn Block, VP at eBay stated,

NFTs and blockchain technology are revolutionizing the collectibles space, and are increasingly viewed as an investment opportunity for enthusiasts. Through our partnership with OneOf, eBay is now making coveted NFTs more accessible to a new generation of collectors everywhere. This builds upon our commitment to deliver high-passion, high-value items to the eBay community of buyers and sellers.

Its partner firm OneOf claims to be a “green” NFT platform that uses energy-efficient blockchain technology.

eBay’s 142M users will now have access to high-value collectibles

Through its 142 million buyers and millions of sellers worldwide, the global commerce player can leverage its inventory, maintain an open marketplace, and make high-value collectibles more accessible, with the collaborating partner.

That said, even though the e-commerce firm has a significant presence in the online shopping space, the company will now have its work cut out for it competing with dozens of crypto native NFT marketplaces already out there.

eBay is now among a growing number of entities looking to incorporate NFTs into their platforms. Instagram recently announced that it will start testing NFTs with select creators in the United States.

Additionally, Spotify also revealed last week that it’s testing a new feature that allows artists to promote their NFTs on their profiles.

As for eBay, its obsession with Nft began in February this year when CEO Jamie Iannone told CNBC that it was looking to get into the sector, in an effort to be the go-to marketplace for Gen Z and millennials.

Scammers Take Control of Beeple’s Twitter Account to Sent Out a Phishing Scam

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Mike Winkelmann, better known as Beeple, a digital artist and popular nonfungible token (NFT) developer, had his Twitter account stolen on Sunday as part of a phishing attempt.

Users were warned by MetaMask security analyst Harry Denley that Beeple’s tweets at the time, which contained a link to a raffle of a Louis Vuitton NFT collaboration, were a phishing scheme that would drain crypto from users’ wallets if clicked.

The fraud artists were most likely hoping to profit from a legitimate recent Beeple-Louis Vuitton partnership. Beeple created 30 NFTs for the premium fashion brand’s Louis The Game smartphone game, which was used as player incentives earlier this month.

Beeple’s phishing scam cost users over $438k

The fraudster proceeded to tweet phishing links from his Twitter account, directing readers to fake Beeple collections with the promise of a free mint for unique NFTs.

The phishing links were up for nearly five hours on his Twitter, and an on-chain check of one of the scammers’ wallets revealed that the first phishing link got them 36 Ether (ETH), which was worth around $73,000 at the time.

The scammers received over $365,000 in ETH and multiple NFTs from high-value collections, like the Mutant Ape Yacht Club, VeeFriends, and Otherdeeds, among others, bringing the total worth of the scam to nearly $438,000.

According to on-chain data, the fraudster sold the NFTs on OpenSea before transferring their stolen ETH to a crypto mixer to conceal their gains.

He later claimed possession of his account, adding that “anything too good to be true IS A F*CKING SCAM.”

Three of the top ten most valuable NFTs ever sold were sold by Beeple, including one that sold for $69.3 million, the highest amount ever paid by a single owner. Hackers have targeted him because of his celebrity.

Customers lost roughly 38 ETH after a Beeple Discord moderator account was hijacked in November 2021, with hackers pushing a similar false NFT drop.

Singapore Court, Following a Dispute, Barred the Sale of Bored Ape Yacht Club NFTs

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In one of the first cases of its sort, a Singapore court has imposed a freezing injunction prohibiting the sale of a Bored Ape non-fungible token, which might have far-reaching implications for digital assets.

A court ruled that the NFT, from the famous Bored Ape Yacht Club series, should not be sold until an ownership dispute is resolved after it was foreclosed on as collateral for a debt.

According to Hagen Rooke, a lawyer at Singapore law firm Reed Smith LLP who wasn’t involved in the case, the law recognizes both fungible and non-fungible tokens as forms of property to which court injunctions can attach, and the NFT case is a consistent application of the same idea.

“It is the first decision in a commercial dispute where NFTs are recognized as valuable property worth protecting.” “So more than merely strings of numbers and codes imprinted on a blockchain, the implication is that NFT is a digital asset and people who invest in it have rights that can be protected.”

Shaun Leong, lead counsel for the case and equity partner of Withersworldwide

Singapore considered BAYC NFT as a valuable asset

The claimant, a Singapore resident who, according to the case filing, is a regular borrower on NFTfi, a platform that allows consumers to utilize NFTs as collateral for crypto loans, is a citizen of Singapore and is an active dealer in crypto and digital assets.

The defendant goes by the username chefpierre.eth. But the identity and physical whereabouts of the user, which is unknown, is a regular lender on the platform, according to the lawsuit.

According to the declaration, the BAYC NFT No. 2162 is “one of the Claimant’s most prized assets, and is irreplaceable to him,” and he has “no intentions to ever part with or sell it.” According to the petition, he used the NFT as collateral to borrow cryptocurrency because “because of its rarity and high value,” he could secure greater loans.

The claimant requested a refinancing of a loan for which the NFT in question was used as collateral in mid-April, but after some back-and-forth, chefpierre agreed to a limited repayment period. Chefpierre foreclosed on the NFT when the claimant was unable to pay, according to the complaint. In this instance, the claimant claims “unjust enrichment.”

Robinhood Releases Zero-Transaction Fee Crypto Wallet

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Leading commission-free trading platform Robinhood has released its first Web3 wallet, which would be non-custodial- meaning users will have sole authority over the private keys which are in encrypted storage.

Prior to the announcement, on 16 May, Robinhood send out a teaser that came with a 30-sec video showing a bunch of apes lying around with bored expressions, suddenly coming across a giant screen that appears to transform them into a multi-planetary species.

Netizens were confused as to what the platform was up to.

Finally, on the next day, the exchange’s official Twitter handle along with the CEO of Robinhood Vladimir Tenev announced that it was building a self-custodial wallet. It will be offered as a standalone app but hopes that it will “feature the same simple and accessible design” as its main service.

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Robinhood Releases Zero-Transaction Fee Crypto Wallet 2

The wallet will extend the ability to store and trade cryptocurrencies, including many not available through the main Robinhood app with “no network fees” and will support NFTs and DeFi [decentralized finance] protocols.

Robinhood’s new non-custodial wallet would compete with Metamask, Coinbase

Even though, custodial wallets, like the one that Robinhood released earlier in 2022, are commonly seen as offering a more user-friendly introduction to the world of crypto, where there’s less risk of losing assets because of mislaid credentials.

But, among crypto enthusiasts, the phrase “not your keys, not your coins” has become a popular criticism of custodial wallets. Proponents argue that one who holds the private key should have full control of their digital assets.

The addition of Robinhood’s new non-custodial wallet might allow it to serve both kinds of customers.

The California-based fintech firm further stated that it’ll be launching its non-custodial wallet in beta “later this summer” and invites anyone interested in trying it out to sign up for its waitlist. A full launch is planned for sometime before the end of the year.

The new app puts Robinhood in a highly competitive market dominated by start-up giant MetaMask with the latest entrant being Coinbase which recently came out with its own self-custody wallet.

Coinbase CEO Brian Armstrong proudly declared his firm’s product as the most downloaded, mobile self-custody wallet in the U.S. in a tweet Monday.

OpenSea Discord Compromised, Promoting Fake NFT Passes

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According to tweets from users and security firm PeckShield, OpenSea’s Discord service was hacked to push a fraud.

“We are presently researching a potential vulnerability in our Discord,” said OpenSea. “Please do not click on any links on the Discord.”

The access appears to have been exploited to advertise a phony NFT mint. As per the screenshots from different individuals, a Discord server announcement stated that a mint pass was being issued in partnership with YouTube. It sent users to a page that had the name YouTube but was not the actual YouTube website. The URL has been detected as a phishing site by PeckShield.

The invader appeared to have been able to stay on the server for a long time before OpenSea technicians were able to recover control. The hacker was successful in posting follow-ups to the first false announcement, reiterating the phony link, and stating that 70% of the supply had already been coined in an attempt to induce “fear of missing out” among victims.

The fraudster also tried to persuade OpenSea users by stating that anyone who claimed the NFTs would receive “crazy utilities” from YouTube. They state that this offer is one-of-a-kind and that there will be no more rounds to engage in, which is typical of con artists.

In the announcements channel, the hoax message was disseminated. Users can no longer access this channel.

At least 13 OpenSea users compromised

As of this writing, on-chain data indicates that 13 wallets have been infiltrated, with the most valued NFT taken being a Founders’ Pass worth about 3.33 ETH ($8,982.58).

According to initial reports, the hacker exploited webhooks to get access to server controls. A webhook is a server plugin that allows other applications to get real-time data from the server.

Hackers are increasingly using webhooks as an attack vector since they allow them to send messages using official server accounts.

The OpenSea Discord server isn’t the only one that uses webhooks. In early April, many popular NFT collections’ channels, including Bored Ape Yacht Club, Doodles, and KaijuKings, were hacked, allowing the hacker to utilize official server accounts to publish phishing emails.

Spotify: Gamers Can Now Bob Their Heads To Music-Themed Islands In Roblox Metaverse

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Popular streaming music provider Spotify has stepped into the metaverse of gaming platform Roblox with the launch of Spotify Island.

Through this collaboration, the Swedish streaming giant has joined major labels in the Roblox metaverse which aims to build an interactive presence. Apart from that, it has become the first music streamer to enter the gaming platform.

As per a statement released, Spotify Island will enable fans to create new sounds together, hang out in digital spaces and gain access to exclusive merch.

“Roblox users can mingle with artists, complete interactive quests, and unlock exclusive content,” it read. “Players can also enjoy an immersive audio experience by creating music and exploring sounds at the virtual beat-maker stations powered by Soundtrap.”

From the main Spotify Island, gamers will be able to connect to themed islands that will come to life throughout the year. It will also provide exclusive content, artist interactions, and themed ‘mini-quests’.

Spotify enters the Roblox metaverse

“Through the Island, we’re creating an easy opportunity for artists to connect with fans and to partner with Spotify on the creation of in-game virtual merchandise,” said the statement.

“Spotify’s portion of those sales will go directly back to the artists themselves. We’ll work with artists to create more opportunities like this in the months ahead,” it added.

Will Spotify propel Music to become the next breakout NFT application?

In March, Spotify announced plans to add blockchain innovation and non-fungible tokens to its web-based feature.

Of late, the already crowded NFT market has shown signs of deceleration, several in the crypto business have tipped music as a breakout new application for NFTs this year.

That opens up a whole new range of opportunities like selling advanced collections or utilizing NFTs to open advantages at gigs, from product to behind-the-stage passes.

For example, Musicians, such as rapper Snoop Dogg and DJ Steve Aoki have effectively become noticeable NFT authorities, while Kings of Leon and Grimes have sold NFTs of their music.

Even Warner and Universal have several NFT projects in their kitty, including a virtual band highlighting characters from the Bored Ape Yacht Club.

NFTs glitz to yet another collection, YOOMOOTA

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Knock Knock! Who’s there? YOOMOOTA. YOOMOOTA who? YOOMOOTA your latest NFT collection in town!

The brand new NFT collection  YOOMOOTA is launching in collaboration with Rarible, 1inch, and other industry leaders. YOOMOOTA has already partnered with some of the most well-known brands in the world, like Boss Beauties, a global effort driven by women, Sneaky Vampire Syndicate, Doodles, and others.

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GodJira, Cereal Club, and other projects have collaborated on art with the project. YOOMOOTA has already received over 60,000 backers and the attention of Cozomo de’ Medici, the renowned non-fungible tokens celebrity.

The artist used natural physiology to create the collection, revealing the true beauty of a human being. The collection is being observed by top NFT industry influencers and rival collections since each piece of art depict human emotions, feelings, and psychology.

YOOMOOTA comprehends the prevailing terms and regulations of the NFT market and is working diligently on the marketing aspect of the job by consistently partnering with other collections and giving away a few of their pieces to reach prospective backers, even with the innovation in terms of the collection and the mind behind it.

It has already been identified the 18 non-fungible tokens projects with which the collection partnered and made friends. YOOMOOTA thanked its supporters for their help in getting started on its official Twitter account.

Recapping the new NFT in town

For the past two years, the YOOMOOTA universe has been evolving, with the active creative process taking place in the previous six months. After years of self-immersion, the author molded and constructed the YOOMOOTA universe.

It was feasible to turn YOOMOOTA into something actual and introduce the cosmos to the public, thanks to the rapid growth of decentralized technology and enormous digitalization. The entire collection isn’t just another NFT project because the developer plans to turn the YOOMOOTA universe into a global community where anyone may participate as both creators and watchers.

Everything in the cosmos has been humanized since it embodies the feelings, thoughts, and characteristics of people. The collection’s community accepts everything and everyone, and members are encouraged to voice their feelings and opinions. The YOOMOOTA team is betting on the cosmos expanding further and reaching person-to-person growth in the next six months.

Furthermore, it has been announced that YOOMOOTA will be available from 4 May 2022, 2:00 p.m. UTC onwards to all the whitelisted investors. However, for everyone else, it will be available from 5 May 2022, 3:00 p.m. UTC.

An NFT Project’s Launch Gets Spoiled By A Flawed Smart Contract

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An NFT project called AkuDream’s highly awaited launch was marred by a Griefing Exploit in which a bug in the project’s smart contract code caused it to mistakenly lock away funds worth $34 million rendering the team unable to access the funds. This is how it unfolded.

The platform’s avatar collection went live with a Dutch Auction Friday. The auction opened at 3.5 Ethereum on the basis that the lowest bid would set the final price, and anyone placing a higher bid would receive a refund. AkuDreams pass holders were also promised a 0.5 Ethereum discount on each NFT they minted. 

However, the party was cut short when an ongoing exploit was brought to its notice, where attempts were made to freeze refunds.

As per a tweet sent out by a crypto developer, Foobar who posted coding showing that “$34 million, or 11,539 eths, is permanently locked into the AkuDreams contract forever. It cannot be retrieved by individual users or by the dev team.”

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The team behind the project noted the exploit and said: “We are locked down and consulting with some of the best on the next steps. We will mint your NFTs, and reveal them as soon as humanly possible. We will also be working to issue funds for those pass holders who bid with the intention of securing a price.5 ETH below the final price.”

The bug in the smart contract enabled the attacker to block refunds and withdrawals from the contract, meaning auction participants who bid above the final NFT price could not receive the Ethereum they were owed. Due to this, both refunds and withdrawals from the contract could not be processed. 

The NFT project’s Twitter handle said the exploit “was not done out of malice”

The AkuDreams team acknowledged the issue saying that the exploit “was not done out of malice” and that it was investigating the incident. “To be clear this is our fault,” the announcement read after the team promised it would return the lost funds to the community. 

It later confirmed that the NFTs would be airdropped to bidders, and it would pay refunds for the pass holders who are owed a 0.5 Ethereum discount. 

That said, Griefing attacks are distinct from traditional exploits, as the hacker does not actually profit from them. However, the users and the protocol still suffer.

Hyundai creates history as the first automaker to plunge into the community-based NFT market

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Hyundai Motor Company charted history, becoming the first carmaker to dip its toe into the Non-fungible token [NFT] space. As per today’s announcement, the South Korean automotive giant marked its foray into the online community-based NFT market in collaboration with the ‘Meta Kongz’ NFT brand.

While the firm’s NFT Discord and Twitter channels opened on April 15, the official NFT website will go live in May 2022, sources revealed.

The automotive entity said that the partnership will provide its users with the “Hyundai brand experience in the metaverse by sharing NFTs depicting its mobility solutions”. Through the dedicated channels of the Hyundai NFT community, the firm aims to manage the asset value of its NFTs.

The online platforms will provide an open 24/7 communications channel between the company and community members, with real-time updates on the asset value of its NFTs. 

With the goal to reach a larger audience, the automotive firm also released a short film depicting the Hyundai NFT universe concept ‘Metamobility universe,’ which reflects its vision of the ‘Metamobility’ concept revealed at CES 2022.

Besides that, it will also issue 30 limited editions of‘ Hyundai x Meta Kongz’ NFTs on April 20 to commemorate the release of the film.

Hyundai heads into Metaverse

The profits earned from the sale of Hyundai NFTs will be utilized for the project’s management and community members, the firm announced.

Speaking on the landmark occasion, Thomas Schemera, Hyundai Motor’s Global Chief Marketing Officer and Head of Customer Experience Division, said, “The NFT universe will extend the firm’s brand experience, especially with MZ generation, in a completely new way, further reinforcing our commitment to innovation in both the real world and in the metaverse.”

Further adding, “We are extremely excited to introduce ‘Metamobility’ through our own NFTs and start this journey with ‘Meta Kongz’.”

As covered by TronWeekly, Italian luxury car-maker Lamborghini headed into the world of non-fungible tokens or NFT by announcing the launch of space-themed artwork called ‘Space key’. 

A few months earlier, Car manufacturer, Mc lauren Automotive chose InfiniteWorld as its official metaverse partner. The collaboration will launch a non-fungible token collection based on McLaren’s luxury cars.

Logan Paul’s New NFT Collections ‘99 Originals’ Didn’t Get the Best Welcome in the Community

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Logan Paul’s latest non-fungible token (NFT) concept has enraged crypto fans, who believe he should be held accountable for founding and sponsoring a slew of dubious crypto ventures.

Paul got a deluge of negative responses after revealing his latest “passion project,” “99 Originals,” on April 12. Users are particularly enraged by the infamous disaster-project CryptoZoo, a series of hybrid animal NFTs that exploded on introduction in August 2021, leaving investors out of pocket.

Zachxbt, a crypto detective, summed up the community’s outrage by reminding Paul of CryptoZoo and his Digital Collectibles series.

Zach said:

“Remember when you rugged everyone for millions with these cash grabs just last year. When will they be reimbursed?”

Where are all the animals from the CryptoZoo Logan? – Community asks

Logan Paul would have to pay a large sum of money to his investors if he sought to reimburse them. One user alone is said to have lost a seven-figure sum as a result of CryptoZoo’s incompetence.

In its whitepaper, CryptoZoo is defined as “an autonomous ecosystem where users may gather, breed, and trade rare animal hybrids.”

Given Paul’s earlier support for the unsuccessful shitcoin Dink Doink, it was also portrayed as a sort of atonement project for him.

For the uninitiated, Dink Doink was a phallically-inspired anthropomorphic cartoon spring shitcoin that quickly depreciated in value and was finally shown to have been developed and designed by Paul.

Unfortunately, Paul’s investors did not immediately gain from CryptoZoo. The so-called original artworks of hybrid animals were really poorly changed stock photographs taken from Photoshop’s image collection, as discovered by Coffeezilla, an internet investigator, immediately after the project’s launch.

According to Coffeezilla, Logan Paul reportedly made $1.8 million from the project prior to its release. However, problems with the initial development team, including underpayment claims, led to further hurdles and a bumpy minting process.

While many early investors have labeled CryptoZoo a fraud or a sham, Paul maintains that the enterprise is neither.

Logan Paul’s latest offering is 99 Originals, and this time the YouTuber is aiming for a more restricted supply of NFTs based on his own images. With fewer NFTs and a more straightforward premise, it appears like there will be fewer things to go wrong this time.