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NFT Weekly Wrap!

We are back with another weekly recap, and this time we will be covering the latest developments in the NFT industry. There have been several changes in the cryptocurrency industry in the past few weeks but NFTs, as always, are grossing and deserve a separate column. 

Bored Ape NFT Mistake

The cryptocurrency ecosystem requires proper due diligence and presence of mind when conducting transactions. This fact becomes more evident considering that a $300,000 worth of Bored Ape NFT was sold for $3,000 because of a misplaced decimal point. Following this blunder, NFT enthusiasts are scrounging NFT marketplaces to look for typos in pricing. 

This blunder happened when Maxnaut.ETH sold his BAYC NFT for 0.75 ETH instead of 75 ETH, which is a considerable difference, as you can imagine. 

“How’d it happen? A lapse of concentration I guess,”  said Max. “I list a lot of items every day and just wasn’t paying attention properly. I instantly saw the error as my finger clicked the mouse but a bot sent a transaction with over 8 eth [$34,000] of gas fees so it was instantly sniped before I could click cancel, and just like that, $250k was gone.”

Twitch Co-Founder Justin Kan launches Gaming NFT Marketplace on Solana.

The co-founder of the popular streaming platform Twitch is launching a gaming NFT marketplace, Fractal on Solana, to help launch the charge in NFT gaming. Justin thinks this is a big leap in the right direction.

Nike acquires RTFKT 

Nike takes the plunge into the NFTverse by purchasing RTFKT as a direct answer to Nike’s competitor Adidas’ recent partnership with BAYC.

“This is a unique opportunity to build the RTFKT brand and we are excited to benefit from Nike’s foundational strength and expertise to build the communities we love,” said RTFKT co-founder Benoit Pagotto in a statement.

These are some of the most interesting news in the NFT space in the past week. Stay tuned for more! 

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