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In December 2020, OpenSea announced that any user could mint NFTs on its platform for free. Later, in March 2021, OpenSea announced NFT collections would not need to be approved to be listed; this decision was later criticized for allowing rampant plagiarism on the platform. [35] On September 17, 2021, OpenSea released an app for Android and iOS.
During the height of the breakout success of CryptoKitties and the emergence of ERC-721 tokens in 2017, an NFT marketplace called OpenSea emerged to capitalize off of the new non-fungible token standard. [47] It positioned itself early in the NFT market landscape and grew to a $1.4 billion market cap in 2021 during the then-ongoing NFT boom. [48]
In January 2022, Forbes estimated the stakes in OpenSea owned by Finzer and his co-founder Alex Atallah to be worth $2.2 billion each, making them the first two non-fungible token billionaires. [2] In April 2023, the net worths of both founders were estimated to have fallen to less than $600 million each following a steep decline in OpenSea's ...
(Reuters) -The U.S. Securities and Exchange Commission has threatened to sue non-fungible tokens marketplace OpenSea, the company's CEO said in a post on social media platform X on Wednesday.
Bored Ape Yacht Club (BAYC), often colloquially called Bored Apes or Bored Ape is a non-fungible token (NFT) collection built on the Ethereum blockchain with the ERC-721 standard. The collection features profile pictures of cartoon apes that are procedurally generated by an algorithm.
Each NFT is assigned a token identification number, and linked to its owner through the "ownerOf" function. Through the optional "ERC-721 Enumerable" extension, functionality for full ownership tracking is implemented. This differs from the ERC-20 token standard, which only tracks an owners token balance though ERC-721 also tracks it as well. [26]
Stay Free: 2021 April 16, 2021: Edward Snowden "PleasrDAO" Ethereum First NFT by Snowden on behalf of the Freedom of Press Foundation. [19] $6.2 $5.23 Save Thousands of Lives: 2021 May 8, 2021: Noora Health Paul Graham: Ethereum Sold for 1,337 ETH in charity auction. [20] $5.2 $4.40 Doge (meme) 2021 June 12, 2021: Atsuko Sato "PleasrDAO" Ethereum
In December 2021, Monkey Kingdom, a NFT project based in Hong Kong, lost US$1.3 million worth of cryptocurrencies via a phishing link used by the hacker. [ 205 ] On November 2, 2023, Sam Bankman-Fried was pronounced guilty on seven counts of fraud related to FTX . [ 206 ]