In this week’s newsletter, read about how the FTX contagion led to the sale of a collection containing high-ticket nonfungible tokens (NFTs). Check out the struggles in onboarding artists to Web3 through NFTs and find out about OpenSea’s decision to finally enforce royalties on all collections within its NFT marketplace. In other news, a tool that allows layer-2 networks to showcase NFTs on social platforms like Twitter was released. And don’t forget this week’s Nifty News featuring Nike’s Dot Swoosh NFT platform.
FTX contagion victim Deepak.eth puts NFT collection up for sale
After announcing an eight-figure exposure to FTX exchange, Deepak.eth, the pseudonymous founder of blockchain infrastructure firm Chain, has tweeted that they are selling their NFT collection either to the highest bidder or through a fractional decentralized autonomous organization (DAO) for 80% ownership.
The collection includes prominent NFTs such as Bored Ape Yacht Club and Mutant Ape Yacht Club characters. The collection is being sold for 8,000 Ether (ETH), which is around $10 million at the time of writing.
Helping mainstream artists into Web3: The triumphs and struggles
Bernard Alexander, an executive at Animal Concerts — the firm that helped onboard celebrities like Snoop Dogg and Billy Ray Cyrus to Web3 through NFTs — spoke with…
