Ethereum

BAYC hodler loses 100 ETH in ‘joke’ domain sale gone wrong

07/21/2022
Bitcoin Ethereum News

A major Bored Ape Yacht Club (BAYC) nonfungible token (NFT) hodler lost 100 Ether (ETH), worth $150,000, as a result of a joke bid on his own registered Ethereum Name Service (ENS) domain.

The NFT whale, who owns 57 BAYC NFTs and goes by franklinisbored on Twitter, minted the ENS domain “stop-doing-fake-bids-its-honestly-lame-my-guy.eth” using an alternate wallet on Wednesday.

The move was a part of a meme discussed with other NFT collectors in the community, in which he was attempting to trigger the EnsBidsBot account to tweet about a hefty 100 ETH bid on an ENS domain, essentially to mock the purpose of such Twitter accounts.

However, after his ENS domain actually got a bid of 1.9 ETH, or $2,900, franklinisbored promptly accepted the bid but forgot to retract the 100 ETH bid he had placed beforehand.

Recounting the move on Twitter, he highlighted the ridiculousness of the situation by noting that “this is a mistake that I can’t imagine anyone else putting in the effort to make:”

“I was celebrating my joke of a domain sale, sharing the spoils, but in a dream of greed, forgot to cancel my own bid of 100 ETH to buy it back. This will be the joke and bag fumble of the century. I deserve all of the jokes and criticism.”

ENS is a blockchain naming protocol that enables users to mint names as ERC-721 tokens that can link to crypto wallets and has become a handy tool for removing the need to share lengthy automated wallet address IDs.

Nickelodeon’s successful NFT drop

The first plunge into the NFT space from beloved children’s TV show developer Nickelodeon has gone off with a bang, with trading volumes surging after the project sold out all of its 10,000 NFT avatars this week.

The drop went live on Tuesday and consists of 10,000 NFTs depicting 12 different characters from the Rugrats and Hey Arnold! with randomized and unique traits. The collectibles were sold for $50 a pop, but the floor price on OpenSea has since risen to 0.29 ETH, or $440 at the time of writing.

Over the past 24 hours, Nickelodeon’s NFTs have generated the second largest amount of trading volume out of any project listed on OpenSea at 1,066.05 ETH, or $1.6 million.

GameStop NFT surges past Coinbase NFT

GameStop’s NFT marketplace launch has been a relative success, with the platform generating more than double the total amount of sales volume of Coinbase NFT since its launch on July 11.

According to data from GameStop NFT’s website and compiled by Cointelegraph, the platform has generated more than $8.6 million worth of NFT sales so far.

In comparison, Coinbase’s highly anticipated NFT marketplace has generated just $3.58 million despite launching in May. Notably, GameStop also charges a 2.25% fee on all NFT sales, while Coinbase has yet to introduce fees to the platform.

GameStop NFT has a long way to go to catch industry leader OpenSea, however, with the platform generating $22.9 million in just the past 24 hours alone.

At the time of writing, two projects on GameStop NFT have generated more than $1 million worth of sales volume in MetaBoy and Cyber Crew [C4], with $2 million and $1.59 million apiece.

Simpsons animator launching NFT-based series

Former animator of iconic cartoon series The Simpsons, Erick Tran has partnered with blockchain-based Film and TV production firm Mogul Productions to launch an NFT-based animated series inspired by the history of Hollywood.

The show will be called The Mogies and it will be accompanied by a collection of 1,923 NFTs, in a nod to the 100th anniversary next year of the Hollywood sign being erected. Each Mogie NFT will depict a parodied version of a famous Hollywood celeb, and holders of the tokens will be granted IP rights to the content depicted in their NFT.

Tran and his team at the CHAVVO studio are working on the series, and the story is set to follow the stories of the parodied icons as they make their way through Hollywood. The project will also see the launch of the exclusive Mogieland Metaverse for NFT hodlers, who will gain access to benefits such as virtual red carpet events and behind-the-scenes content.

The Mogies: Mogul Productions/Chavvo Studios

Related: NFT and Islamic education: A new frontier to teach religion?

Other Nifty News:

On Wednesday, Minecraft’s developer Mojang Studios said that it would be excluding the integration of NFTs, alongside blockchain technology as a whole, in its popular namesake game.

The United States Office of Government Ethics (OGE) issued a legal advisory recommending various instances when senior government officials are required to disclose their investments in NFTs.