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Web 3.0 Woundup – 08/01/23

Web 3.0 Woundup – 08/01/23

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1 month in the pastSun Jan 08 2023 09:00:fifty three

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This week’s Web 3.0 woundup sees Shopify allowing the sale of Avalanche NFTs, and NFT project founder admitting to wiping out all his investor funds thru playing, and two broad NFT hacks showing that even basically the most experienced holders can fall sufferer.

Shopify to Allow Sale of Avalanche NFTs

Main e-commerce platform Shopify this week allowed merchants to exchange NFTs powered by Avalanche this ability that of of an NFT app developed by Venly. The app adds toughen for digital collectibles minted on the Avalanche blockchain which is in a role to rapidly be available to aquire on Shopify, with miniature print suggesting that customers won’t desire a pre-novel wallet in show to snatch segment..

NFT Venture Founder Gambled Away Investor Funds

The founding father of a few NFT projects this week apologized after admitting to playing away investor funds. The individual, identified as DNP3 on Twitter, admitted that he “obtained extremely addicted to playing” in the previous year and, having ragged up all his have cash on the behavior, turned to the treasuries of his projects.

Whereas some equipped condolences to DNP3, others weren’t so form, announcing that he ought to face penal complicated time for the reckless utilize of alternative other folks’s cash.

Two NFT Hacks Show That No One is Salvage

Two hacks this week saw NFTs totalling almost $400,000 stolen from two folk with colossal experience in the condo. Nikhil Gopalani, the COO of RTFKT, misplaced $173,000 fee of NFTs to a “suave phisher”, whereas NFT diehard CryptoNovo misplaced CryptoPunks valued at over $330,000.

Needless to divulge, NFT hacks are nothing novel, but it indubitably is the identity of the folk eager that’s concerning – if these with this noteworthy experience in the NFT condo are succesful of being hacked to this extent, what does this imply for the main time person? The straightforward acknowledge is to utilize a hardware wallet, retailer the seed phrase offline, and utilize long, complicated passwords.

And pray.

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