Weekly Report (Apr-17)
Yearn Finance, & Hundred Finance exploit. Canon, Adidas, and Mastercard web3 initiatives.
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Playboy is planning to introduce the first MetaMansion in The Sandbox metaverse.
NFTs appear to be trading more often than ever, despite the fact that spot and derivative trading volumes have plummeted, wiping away almost $1.3 trillion from the cryptocurrency market. The total number of NFT transactions for the year exceeded 11 million in the first and second quarters, and is approaching 12 million in the third quarter.
Citizen Finance, a multi-chain NFT protocol, was attacked, and the $CIFI token lost more than half of its value. The stolen assets includes 244 BNB and 57,600 MATIC worth approximately $92,244. The user gained access to the Migration token on both BNBChain and Polygon Network, which was quickly transferred to another wallet before being exchanged for BNB and USDC. This attack's tokens have all been sold, and the funds can be easily traced back to the perpetrator's wallet.
In another incident, SpaceGodzilla was the victim of a typical price manipulation attack, losing approximately $25,379 USDT. The attacker obtained a large number of flash loans from various platforms before exchanging the borrowed USDT for the SpaceGodzilla token, and inflating its value. Following this, the attacker executed a function call on their smart contract, which resulted in the investment of both USDT and the SpaceGodzilla token in the unbalanced pool, where the attacker could exchange the project's token for more USDT. By redeeming and paying off the corresponding flash loans, the attacker was able to reap the profit.
DeeKay Kwon, a well-known NFT artist and animator, is the latest victim of a Twitter hack. The hacker gained access to the artist's Twitter account and used it to spread a phishing link to his 180,000 followers. Unfortunately, the fake mint led many of DeeKay's followers astray and approved a malicious transaction that drained their wallets. According to reports, the hacker stole approximately $150,000 in digital assets from multiple victims.
The MetaMansion has been launched by iconic and raunchy lifestyle brand Playboy in collaboration with NFT-based Metaverse gaming platform The Sandbox. Playboy plans to expand its Web3 offerings with the launch of a MetaMansion, which will host gaming, social, and programmed events, as well as future NFT collectible releases from the company. The MetaMansion is also based on Playboy's Rabbitars NFT project, which comprises of 11,953 tokenized bunny avatars that were sold for approximately $800 in October 2021. Soon, holders of these NFTs will have access to exclusive experiences at the virtual mansion. However, neither the specifics nor the launch date have been specified.
GameStop has launched its own NFT marketplace with the goal of providing low fees and high speed speeds. The marketplace allows users to buy, sell, trade, and create NFTs, including added functionality to view NFT statistics, as well as educational material. Everything from NFT basics to connecting a wallet to the marketplace is covered in the educational content. On the app's main screen, the marketplace displays featured NFTs, NFT creators, and collections. The Explore interface also allows for a more in-depth examination of the market. The marketplace has already seen over 3,000 ETH in trading volume, worth about $3.6 million as of July 15.
The Otherside, a gamified metaverse project affiliated with the Bored Ape Yacht Club, launched their first trip as a tech demo with 4,500 participants. The 4,500 Voyagers first appeared as Voyager avatars in a blank virtual lobby before following a giant Bored Ape through a colorful portal into the Otherside Metaverse. When the Voyagers arrived in the Biogenic Swamp, they were directed to a centrally located stadium where they could practice avatar dynamics like dancing, running, jumping, and emojis. They were then able to explore a few other areas and interact with the environment, which featured giant creatures walking around and attacking Voyagers if they got too close.
Flipkart, the eCommerce juggernaut, and Nothing are teaming up for the very first NFT drop on FireDrops, dubbed Nothing Community Dots, which is set to go live on July 22nd. To clarify, the NFTs will be airdropped to specific individuals, all of those who pre-ordered the Nothing Phone (1) on Flipkart between July 12th and July 18th. Community investors must log in to their Nothing account, connect or create a crypto wallet, and navigate to the My NFT Page to receive the airdrop.
Bumper Finance has activated their FALKOR release, which will run in two phases of Alpha and Beta, both on a private network for testing. The alpha stage is expected to last 2-3 weeks among a small group of testers. Soon after, the Beta release is expected to allow a larger group of participants to actively engage in public testing.
iTrust Finance has partnered with Hodlnaut to integrate industry-first custody cover on their platform. With this quick and simple integration, anyone can purchase cover for their assets without leaving Hodlnaut at the best available price.