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Later that month, OpenSea reimbursed users about $1.8 million after a user interface bug allowed users to buy more than $1 million worth of NFTs at a discount. [16] [17] On January 27, 2022, OpenSea announced it would limit how many NFTs a user could create using the free minting tool. [18] The following day, OpenSea reversed the decision. [19]
The concept of non-fungible digital assets that could be owned on a blockchain predated ERC-721, with projects like Colored Coins on Bitcoin in 2012. [7] In 2017, just prior to ERC-721’s publication, Larva Labs launched the CryptoPunks NFT project on Ethereum using ERC-20 (a fungible token standard).
The NFT space continues to be the victim of such hacks after the Bored Ape Yacht Club suffered similar hacks earlier this year. Opensea Confirms Discord Hack As Spambots Promote “YouTube” NFTs ...
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]
Olson then spends the next segment of the video criticizing the current general lack of quality in NFT art and NFT art collections. In the later half of the video Olson goes over the Crypto and NFT community while also going over and criticizing blockchain games , the "play to earn" gaming business model (focusing on Axie Infinity in particular ...
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. The parent company of Bored Ape Yacht Club is Yuga Labs. [1]
One of the 5000 images used in the artwork. Winkelmann was inspired by British artist Tom Judd and began the daily project on 1 May 2007. [14] Some of the images involve figures from pop culture, including Jeff Bezos and Donald Trump, and are arranged chronologically. [15]
Plants placed into nutrient-rich water channels in an NFT system A home-built NFT hydroponic system. Nutrient film technique (NFT) is a hydroponic technique where in a very shallow stream of water containing all the dissolved nutrients required for plant growth is re-circulated past the bare roots of plants in a watertight gully, also known as channels.