In this week’s Nifty Newsletter, several noteworthy events in the world of non-fungible tokens (NFTs) have taken place. Firstly, a report by security company PeckShield reveals that approximately half of all stolen NFTs are being sold within just three hours after they are stolen. Platforms such as OpenSea and Blur have been identified as popular marketplaces for these quick transactions. The report also indicates that in June, the value of stolen NFTs amounted to $2.27 million, showing a significant decrease of 85% compared to the massive thefts of $16.2 million back in February 2023.
AzukiDAO proposes to recover 20,000 ETH from Azuki founder ‘Zagabond’
AzukiDAO, a decentralized autonomous organization consisting of holders of the Azuki NFT collection, has proposed taking legal action against Zagabond, the founder of Azuki, for alleged involvement in rug-pulling various projects. With the aim of recovering $39 million worth of Ether (ETH) from the launch of Azuki’s Elementals NFT collection, AzukiDAO plans to hire a lawyer and seek justice. Any funds retrieved through the lawsuit would be used to benefit the entire Azuki community.
Investors still waiting on $1.9 million refund Logan Paul promised six months ago: Coffeezilla
Investors who participated in Logan Paul’s NFT gaming project, CryptoZoo, are still awaiting refunds promised by the popular YouTuber. Internet detective Coffeezilla has brought attention to the lack of communication regarding the $1.9 million refund that was announced in January. Despite the promise made six months ago, there have been no updates or indications of an intention to fulfill the refund of 1,000 ETH.
Nifty News: Blue chip NFT prices wobble, Credit Suisse tries tokens and more
In the realm of NFT collections, the prices of renowned blue-chip collections have experienced a downward trend. Floor prices of collections like Bored Ape Yacht Club (BAYC), CryptoPunks, and DeGods have reached their lowest levels in nearly two years. BAYC, for example, currently stands at 27.7 ETH, a level last seen in September 2021. CoinGecko’s data confirms these significant price drops. On a positive note, Swiss bank Credit Suisse has embraced Web3 technology by releasing NFTs on the Ethereum blockchain. This initiative aims to support women’s soccer in Switzerland, with the bank donating the proceeds from the NFT sales to the Swiss Football Association.