Web 3.0 Woundup – 22/01/23

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This week’s Web 3.0 woundup sees National Geographic getting pummeled for an NFT stunt with a Bored Ape, Twitter guru NFT God losing a “life changing” amount of crypto and NFTs in a hack, and Binance delisting low volume NFTs.

National Geographic Pummeled for NFT Stunt

National Geographic this week got pelters for its attempt to use a Bored Ape to promote NFTs and to lay the ground for its own Polygon-based NFT collection. Most of its followers on Facebook, Instagram and Twitter criticized the move, with some saying that digital collectibles are overrated and a scamwith some even urging the nature-focussed magazine to pull down the post.

Tough crowd.

NFT God Loses “Life Changing” Amount of Assets

NFT influencer NFT God lost a “life-changing” number of digital collectibles and crypto assets this week after downloading the OBS video streaming software through an infected Google ad..

Detailing his ordeal in a Twitter threadNFT God disclosed that the hackers also used the opportunity “to hurt others” and access multiple social media and messaging accounts, an occurrence that comes two weeks after RTFKT COO lost their digital collectibles to a “clever phisher”.

Binance Introduces New Rules for NFT Collections

Binance NFT this week introduced new rules requiring NFT artists to complete know-your-customer (KYC) verification and build a following before being allowed to list their collections.

Other rules require an NFT collection to maintain a 24-hour average trading volume of more than $1,000 to avoid being delisted. Collections not meeting the set criteria will be thrown out of the marketplace in February.

Ouch.