ALT A letter from Jo Grady to Jacqui Smith

ALT A letter from Jo Grady to Jacqui Smith

ALT Dwight Howard's NFT project flops NBA star Dwight Howard is clearly at least a year (probably two) late to the time when celebrities and star athletes could drop some low-effort NFTs and sell out the whole batch immediately. After announcing his "Ballers" project on January 20, offering 3,000 NFTs for a mint price of 2 AVAX (~$60) apiece, he only managed to sell about 300 of them within a day or so. After the dismal launch, Howard tried a few somewhat desperate-seeming moves to try to attract interest in the project: promising to send free crypto to some holders, redoing all the art after criticism of its quality, and slashing the NFT supply to 1,500. Despite all that, only 465 NFTs have sold (15% of the original supply, netting Howard 930 AVAX — around $28,400).

ALT The flop was so bad that a member of the team behind the Avalanche blockchain put out a tweet distancing themselves from the project, stating that they didn't even know about the project until he announced it. "Gone are the days that individuals/Brands with large followings can just drop IP related NFTs out of nowhere and expect it to do well," they wrote, seemingly criticizing Howard's approach by writing that NFT creators must "mak[e] sure to do it in an organic way with proper intentions."

ALT The text suggests that £3m allocared for the Grassroots Sports Programme would be redirected to the championships

ALT "Top tier" NFTs stolen in NFT Trader hack Attackers exploited old smart contracts from the NFT Trader peer-to-peer NFT trading application to steal pricey NFTs, including at least 37 Bored Apes, 13 Mutant Apes, and NFTs from the VeeFriends and World of Women collections. Some ETH and APE tokens were also stolen. Altogether, the stolen NFTs are priced at around $3 million, though the hacker may not be able to liquidate them for that ammount. One attacker claimed in on-chain messages that the original attack had been perpetrated by someone else, but that they were one of the many copycat attackers, describing themselves as someone who had "[come] here to pick up residual garbage". They requested victims send additional ETH to get their NFTs back. "If you want the monkey nft back, then you need to pay me a bouty, which is what I deserve", they wrote, asking for NFT holders to send them 10% of the Ape floor price — itself likely an additional scam, although that attacker did return some N

ALT Meanwhile, NFT holders were urged to revoke access to NFT Trader, since the platform seemed aware of the attack but unable to stop it. NFT Trader was ultimately able to thwart the attacker to stem additional bleeding, likely thanks to help from community members who pointed out a way the contract could be shut down.