Dubai Art Gallery's NFT Initiative; OpenSea's $60M Scandal Confusion; Lucky Star's Plight and China Daily's NFT Plans
Summary:
This edition of Cointelegraph's Nifty Newsletter offers insights into the latest happenings in the NFT space. Highlights include a Dubai art gallery's initiative to educate artists about NFTs and Web3, OpenSea's confusion about a former executive's involvement in a $60 million scam, and the troubles of astrology-themed NFT project Lucky Star. The newsletter also reveals plans of a Chinese government-owned newspaper to launch its own NFT platform.
Welcome to the freshest installment of Cointelegraph's Nifty Newsletter. Stay tuned to keep a pulse on the most recent nonfungible token stories. Every week on Wednesday, the Nifty Newsletter provides you with fresh insights and reveals the latest NFT trends. In this edition, find out about a Dubai-based art gallery’s plans to enlighten artists about nonfungible tokens (NFT) and Web3. Also, see what's happening with OpenSea, the NFT marketplace that's confused about a former executive’s involvement in a $60 million scam. Discover the situation surrounding the Astrology-themed NFT collection, Lucky Star, and what a Chinese government-run newspaper plans for its native NFT platform.
Get the scoop: Dubai Art Gallery set to instruct artists on NFTs, Web3
The upcoming art showcase, 37xDubai, set to launch in October, is targeted at enlightening artists and collectors about NFTs and the wider context of the Web3 world. Founder of the gallery, Danilo Carlucci, announced the intent to have practical workshops within the gallery after its unveiling. There are also plans to issue NFTs based on the "Tree of Life" art exhibit as a membership token. Keep Reading.
OpenSea perplexed about a former exec’s role in a $60 million scam
NFT trading platform OpenSea has stated it has no knowledge that links former Head of Ventures, Kevin Pawlak, to the notorious AnubisDAO scam which occurred in 2021, despite recent allegations on social media. Media Platform NFT Ethics, also known as anonymous X (previously Twitter), tagged the platform and requested an explanation, claiming Pawlak is connected to the mysterious identity “0xSisyphus” and his questionable business transactions. Keep Reading.
Astrology NFT Project Lucky Star unsuspectingly involved in over a $1 million Scheme — CertiK
The Astrology-based NFT Project Lucky Star Currency (LSC) reportedly got entangled in an exit scam, losing over $1 million, according to blockchain security agency CertiK. The project deployer’s account used the "withdrawToken" feature in the NFTMerge and AdwardCenter contracts, which led to the removal of LSC tokens worth over $1 million. Immediately after, they were exchanged for Binance USD (BUSD) stablecoin and then transferred to another account. Keep Reading.
Chinese Government-Owned Newspaper plans to Initiate NFT platform
China Daily, a state-run English-language newspaper, has proposed creating its metaverse and NFT platform. The newspaper earmarked 2.813 million Chinese yuan ($390,000) for a third-party developer to construct the NFT platform, which could be either domestic or foreign-based. In addition, it relayed that digital memorabilia sold on its platform could potentially be linked to others like OpenSea and LooksRare. Keep reading.
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Published At
10/11/2023 7:00:00 PM
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