Yuga Labs’ Acquisition of Proof Fuels Moonbirds NFT Sales Uptick

February 17, 2024 Bitcoin.com

Asked to get a banana, a BAYC owner narrowly avoids a fake Forbes scam

November 27, 2023 Coin Telegraph

BAYC

Scammers posing as Forbes journalists have been targeting BAYC holders to set up interviews and distract them while they attempt to steal their apes.

A Bored Ape Yacht Club (BAYC) owner says he has managed to avoid a potentially “dreadful day” after being asked to retrieve a banana for a photo from someone they initially believed was interviewing them for Forbes.

On Nov. 27, NFT collector ‘Crumz’ detailed his run-in with a scammer posing as a Forbes journalist.

He reported that someone pretending to be Robert LaFanco — a real Forbes editor, contacted him by direct message from an impersonator account with the offer of an interview for a new article about BAYCs.

SCAM ALERT!!
I just spent the last 2hours on Zoom with '@Forbes' it was pretty sophisticated and well thought out because I'm usually on high alert but luckily I wasn't caught. Here's what they did. 1/8
— Crumz (@crumz10) November 26, 2023

During the interview, the scammer prompted Crumz to click a "button" to allow access to record the interview. Crumz said he complied with the so-called journalists despite certain red flags, including their use of a non-premium Zoom account and wanting to use a separate recorder bot to record his screen.

“I had to press a button to allow access to record,” he said before adding, “I didn’t think much of it first but at the end, he asks me to say something that resembles my ape and he suggests a banana.”

'Crumz' said he later realized this was a distraction attempt to take him away from his computer during which the attacker would take control of his computer to steal his assets.

‘Crumz’ said instead of getting the banana, he waited by his computer and sure enough, the scammers started to control his screen.

"I mute my screen and there's no video and just waited by the screen and sure enough they started to control my screen, I stopped them when they went on delegate.cash."

8/8
Hopefully I'm safe now. Don't think they can still control my computer when I turn it back on.
Please be safe out there, it could've been a dreadful day today
— Crumz (@crumz10) November 26, 2023

Crypto casino Rollbit partner ‘@3orovik’ echoed the warning to his 140,000 X followers on Nov. 27.

He also fingered a spurious account named ‘Robert LaFranco’ whose profile claims he is a Forbes assistant managing editor. “During this interview, he attempts to trick you to gain access to your PC and steal your expensive NFTs,” he warned.

⚠️ WATCH OUT ⚠️

A fake Forbes journalist is reaching out to BAYC holders for a fake interview

During this interview he attempts to trick you to gain access to your PC and steal your expensive NFTs

It’s very unlikely Forbes would reach out pic.twitter.com/ViYrT0mk1l
— borovik.eth (@3orovik) November 27, 2023

Meanwhile, BAYC community member Laura Rod also reported being contacted by the bogus Forbes editor.

Earlier this month blockchain security firm Slowmist detailed a number of scams in which victims lost crypto assets to fake journalists.

It reported that, after scheduling an interview, the attacker would guide victims to join the interview on Telegram, providing an interview outline, conducting a two-hour interview, and then providing the malicious link to consent to publication.

In October, a Friend.tech user reported being duped by a fake Bloomberg journalist, who lured them into clicking a link for a “consent form” which instead resulted in a drained Friend.tech account.

Meanwhile, several industry observers have noted that scammers on X (Twitter) often have a BAYC profile picture which is something to look out for.

Magazine: Tornado Cash 2.0 — The race to build safe and legal coin mixers

Yuga Labs confirms UV lights likely cause of eye issues at ApeFest

November 9, 2023 Coin Telegraph

Apefest

The Bored Ape Yacht Club’s official Twitter account said an investigation confirmed suspicions that UV lights were the likely cause of the reported eye and skin issues suffered by some attendees.

Ultraviolet (UV) lights were the likely culptit behind the reported vision loss, eye pain and skin issues for at least 15 attendees of Yuga Labs’ ApeFest event in Hong Kong last week, the nonfungible token (NFT) conglomerate has confirmed.

On Nov. 5, attendees began reporting eye and skin-related issues after attending ApeFest the day before — which was a free event for Bored and Mutant Ape Yacht Club owners held in Hong Kong.

In a Nov. 9 X (Twitter) post, Yuga’s Bored Ape Yacht Club (BAYC) account confirmed that “UV-A emitting lights installed in one corner of the event was likely the cause of the reported issues.”

The BAYC said the determination came following a joint investigation with Jack Morton Worldwide, the agency that produced ApeFest, which conducted on-site inspections, testing, interviewed the events contractors and looked at equipment logs and specification sheets.

On Sunday, November 5, Yuga Labs began to receive reports that some ApeFest attendees and staff experienced eye pain, vision issues, or skin irritation following the Saturday night community event. These reports were - and continue to be - deeply concerning to us. We immediately…
— Bored Ape Yacht Club (@BoredApeYC) November 9, 2023

UVA is a UV wavelength range accounting for around 95% of the UV radiation that reaches the Earth’s surface, according to the World Health Organization. The United States National Eye Institute says UV light exposure can potentially increase the risk of eye problems.

UVA lights, better known as blacklights, are used for different purposes depending on their wavelength. UVA lights with lower wavelengths are typically used for suntanning beds, while lights with wavelengths closer to the visible light spectrum are used for special effect lighting such as in nightclubs.

The BAYC did not disclose specific details about the kind of UVA lights used at ApeFest.

The NFT project said it encourages those with symptoms to seek medical help and notify of their exposure to UVA lights.

It also requested those impacted to message them on X, though some commenters on the post noted that DMs on Twitter have been switched off.

“We are saddened that this incident has detracted from the experience of ApeFest attendees,” the project wrote. “We are committed to supporting the recovery of anyone affected.”

Magazine: NFT Creator: Crypto’s ‘pro-rioter’ glitch artist stirs controversy — Patrick Amadon

‘I’m still not seeing it’ — Judges skeptical of Ryder Ripps’ BAYC appeal

October 17, 2023 Coin Telegraph

BAYC

The lawyer representing Ryder Ripps and Jeremy Cahen struggled to convince a panel of judges that Yuga Labs’ case against his clients should be thrown out under California’s anti-SLAPP statute.

Nonfungible token (NFT) artist Ryder Ripps’ most recent attempt to dismiss the Bored Ape Yacht Club-related lawsuit against him appears to have fallen on skeptical ears.

In an Oct. 17 hearing, three judges from the United States Court of Appeals for the Ninth District appeared largely unpersuaded by the arguments from the attorney representing Ripps and Jeremy Cahen (known by the pseudonym “Pauly” on X), who argued the case should have been dismissed on the grounds of free speech.

Ripps and Cahen’s lawyer, WilmerHale partner Thomas Sprankling, argued the knock-off Bored Ape NFTs were sold and distributed in a way that protested the supposedly anti-semitic imagery hidden within the Yuga Labs-created collection.

He repeatedly positioned Ripps and Cahen as selling the NFTs as an avant-garde exercise that pushes the boundaries of speech and claimed Yuga’s suit should have been thrown out under a California law that aims to stop intimidatory lawsuits, known as strategic lawsuits against public participation, or SLAPP.

Sprankling told the judges that the anti-SLAPP statute is designed as a “prophylactic” — meaning that it is supposed to go “a little beyond the bounds of the First Amendment to make sure you’re not threatening people with chilling speech in litigation, as is the case that happened here.”

In their anti-SLAPP motion, the pair asserted that Yuga Labs only initiated the lawsuit against them to silence their “protest” art and drown them in legal costs.

However, the judges seemed interested only in the secondary sales of the NFTs themselves, essentially dismissing all arguments that hinged on any artistic criticism.

“He was selling the same images, on the same marketplaces, on virtually indistinguishable NFT identifiers,” said Judge Anthony Johnstone in response to Sprankling’s argument.

“I’m still not seeing it,” added Judge Morgan Christen.

Yuga Labs first filed a complaint against Ripps and Cahen in July 2022, alleging the pair made millions of dollars while engaging in trademark infringement, false advertising and unfair competition following the release of a derivative NFT collection called RR/BAYC.

On April 21, a California District Court found that Ripps and Cahen had infringed Yuga Lab’s trademarks with their RR/BAYC NFT collection.

While Californian District Court Judge John Walter has already held a bench trial to assess the scope of damages to be paid to Yuga Labs, he has yet to announce the case’s conclusion.

Magazine: NFT Collector: William Mapan’s Distance sells out, NFT float in Macy’s Parade, Nouns DAO forks

Nifty News: Blue chip NFT prices wobble, Credit Suisse tries tokens and more

July 4, 2023 Coin Telegraph

Azuki

The floor prices for some of the largest NFT collections sunk to nearly two-year lows, but have started to edge up in the past 24 hours.

‘Blue chip’ floor prices near two-year lows

The largest nonfungible token (NFT) collections by market capitalization are in a sea of red as the cheapest NFTs in their collections took dives over the past week with some hitting near two-year lows.

Yuga Labs’ flagship Bored Ape Yacht Club (BAYC) collection — the second largest by market cap according to CoinGecko — hit a floor price of 27.7 Ether (ETH), or $54,200 on July 3, a level not seen since September 2021.

*The largest 12 NFT collections floor prices are in the red over the past week. Azuki Elemental Beans is down but is incorrectly shown as having gained. Source: CoinGecko*

Other top collections including the Mutant Ape Yacht Club (MAYC), Azuki, CryptoPunks and DeGods also saw their floor prices sink over the week.

However, the last 24 hours have given the NFT holders a small respite, with floor prices recovering across most of the top collections. The largest gainer was Azuki Elementals with a nearly 32% floor price increase.

Credit Suisse takes a shot at NFTs

Swiss-based bank Credit Suisse said on July 3 that it’s teaming up with the Swiss Football Association to fire off 756 Ethereum NFTs with 100% of the proceeds going to support women's soccer in the country.

It’s the first time the bank has waded into NFTs, which will be made available through the bank's CSX app that’s adding a new functionality for digital assets — no crypto or crypto wallet required.

Instead, Swiss francs will be used to purchase the NFT which will appear in the app. The bank said this “first step” was meant to be “simple and client-friendly” so a “broad client base” could access digital assets.

As for the NFTs, each one portrays a player from the Swiss Women's National Team and come with varying levels of perks and benefits depending on their rarity.

*A collage of some of the rarest NFTs of which some are priced over $11,000. Source: Credit Suisse*

There are three rarity levels with 690 of the least rare starting at around $170 while the 11 most rare are priced at over $11,000 (150 to 10,000 Swiss francs).

Slow sales for Melania Trump’s NFTs

Former First Lady of the United States, Melania Trump, is seeing sluggish sales for her all-American Solana NFT collection, which was released ahead of the country’s Independence Day celebrations.

Of the 3,000 NFTs released June 29, only 586 have sold — which doesn’t include an additional 500 that are not yet revealed and held back from sale until July 4.

Of those revealed, the “1776 Collection” has six different designs emblazoned with patriotic symbols. Each design has 500 apiece and are being hawked off for $50 a pop.

"The 1776 Collection of artwork draws inspiration from several iconic landmarks of our Nation, which I had the privilege of visiting during the time I served as First Lady" #MelaniaTrump #The1776Collection exclusively at https://t.co/d2es7j6pwb #FoxNews: https://t.co/HSBeQj8QPc pic.twitter.com/Cu5ruzP4VH
— USAmemorabilia (@USAmemorabilia) June 29, 2023

A June 29 Fox News article reported the collection was to celebrate the "foundations of American ideals" according to Trump’s office.

A different audio track is embedded in each NFT design that blares patriotic tunes. One depicting the Statue of Liberty sounds off The Star-Spangled Banner, the U.S. national anthem.

It was reported a portion of proceeds from the collection will go to Trump’s “Fostering the Future” non-profit initiative aiming to grant scholarships in computer science to children leaving foster care.

Dior’s NFTs go quiet about the ‘NFT’ part

A new product from French luxury brand Dior will come with an NFT, but the brand is seemingly being coy about the term "NFT" in its launch announcement.

On June 30, Dior announced it would be shipping a new line of shoes — with one style offering a “digital twin.”

Dior describes the twin e-shoes as “a unique and secure digital creation on the Ethereum blockchain” — wordplay which seems to deliberately obscure that the “digital twin” is simply an Ethereum-based NFT.

Sneakers Alert.
Introducing 'B33' sneakers by Kim Jones, from the #DiorMenFall 2023 collection. Each pair is equipped with an encrypted key granting access to a secure platform and exclusive services. Sign up to be the first to shop them online from July 6.
— Dior (@Dior) June 29, 2023

The shoes are called the “B33 sneaker” and come in seven different styles. Only the most expensive, priced at $2,150, come with the NFT twin.

The others, starting at the bargain price of $1,600, come with an NFC chip in the sole of the right shoe granting access to a “platform” showing its “Digital Certificate of Authenticity.” It’s unclear if this certificate is also an NFT.

Other Nifty News

NFT thieves are often quick to offload phished tokens, with blockchain security firm PeckShield finding that half of stolen NFTs are sold within three hours on OpenSea and Blur.

Hermès, another French luxury brand, racked up another win in its infringement case against the “MetaBirkin” NFT artist Mason Rothschild with a U.S. judge ordering a permanent injunction on all sales of the NFT.

NFT Collector: Snoop’s NFT nostalgia, The Goose draws Gen Y to Sotheby’s

NFT Sales Rise 7.28% to $179.64 Million in 7 Days, Nakamigos Takes the Top Collection Spot

April 8, 2023 Bitcoin.com

‘Scammers dream’ — Yuga’s auction model for Bitcoin NFTs sees criticism

March 6, 2023 Coin Telegraph

Auction

Yuga Labs' first Bitcoin NFT collection saw some backlash from the crypto community over the weekend, pointing to flaws in the way it's conducting the auction.

Nonfungible token (NFT) conglomerate Yuga Labs is facing some criticism from the cryptocurrency community, including the creator of Bitcoin Ordinals, over how it plans to auction its new Bitcoin NFT collection.

On Mar. 5, Yuga opened bids for its “TwelveFold” collection which will see 300 NFT-like images inscribed on Satoshis using the Bitcoin-native Ordinals protocol, with 288 from the collection sent to the highest 288 bidders.

The auction for TwelveFold has begun and will conclude on the block immediately prior to 3pm PT tomorrow, March 6th, 2023. Good luck.https://t.co/gvl8IHpekC pic.twitter.com/xGWU9jdCoO
— Yuga Labs (@yugalabs) March 5, 2023

According to a Mar. 5 press release, those participating in the bidding process will be required to send their entire bid amount in BTC to a unique BTC address controlled by Yuga. Winners would simply pay up the BTC they bid, while Yuga said it would return the BTC to those unsuccessful in placing a top bid.

Such a plan however has earned the ire of some within the crypto community, with some pointing out that having to manually conduct refunds for unsuccessful bids is like the “stone age.”

so the way yugas auction will work tomorrow is everyone sends Bitcoin to one wallet and if you lose the bid they promise to manually send it back

likely tens of millions of dollars

we’re still in the stone age
— Giancarlo (@GiancarloChaux) March 5, 2023

The user behind an Ordinals-focused Twitter account “ordinally” called the auction model a “scammers dream” and added while they doubt Yuga would keep the BTC from failed bids, the way it carried out the auction sets a “REALLY bad precedence.”

Yuga is establishing REALLY bad precedence running an auction like this. They are taking custody of bidders’ bitcoin with a promise to send back unsuccessful bids. Not doubting they’ll do that, but this model is a scammer’s dream, and credible players need to set better example.
— ordinally (@veryordinally) March 6, 2023

The post even saw a response from Bitcoin Ordinals creator himself Casey Rodarmor, who hotly weighed in on the discussion telling Yuga to “get fucked” and called the conduct of the auction “degenerate bullshit.”

He added if Yuga were to conduct a similar auction he would encourage others to boycott the project.

Dear @yugalabs,@veryordinally is right. Actions like this prove that for some entities and people: “Once a shitcoiner always a shitcoiner.”

If I, personally, Casey Rodarmor, ever see you, Yuga labs, the entity, fuck around with degenerate bullshit like this again, I will wash… https://t.co/COARsn4X0o
— Casey Rodarmor (@rodarmor) March 6, 2023

Other users pointed out the shortcomings of the auction system, saying it's possible some could overpay for a TwelveFold due to a possible significant price discrepancy between the highest and lowest bids in the top 288.

yuga is going to make a lot of money with twelvefold haha pic.twitter.com/UF7efYmN0k
— frankdegods.eth (@frankdegods) March 5, 2023

Despite the criticism from some, many were happy to see a large project such as Yuga — who rose to prominence due to multiple Ethereum-based NFT collections — bridge across to Bitcoin.

Ordinally, who earlier criticized the collection, later tweeted appreciation of “the fact Yuga took the effort to attempt [to] go a Bitcoin route when setting up this auction.”

To give credit where credit is due - I really appreciate the fact Yuga took the effort to attempt and go a Bitcoin route when setting up this auction. Somewhat irrationally it pains me even more to see a bitcoin approach setting bad precedent, than an ETH based approach …
— ordinally (@veryordinally) March 6, 2023

An Ordinals-based collection, Ordinal Pizza OG, expressed excitement at Yuga’s BTC collection and called it a “massive net positive for Ordinals.”

The criticisms weren’t enough to stop cashed-up bidders from wanting to try to cement a top spot to nab Yuga’s first BTC collection.

At the time of writing the top bid was 1.11 BTC (around $25,000) according to the TwelveFold website with the lowest bid registered showing as 0.011 BTC, or around $250.

Yuga Labs to Launch Art Collection on Bitcoin

February 28, 2023 The Crypto Briefing

Whale sells 1,010 NFTs in 48 hours in ‘largest NFT dump ever’

February 25, 2023 Coin Telegraph

BAYC

With the Blur marketplace set for a second airdrop soon, Nansen’s Andrew Thurman theorized that this major NFT dump could be a play to reap extra BLUR token rewards while also booking some profits.

According to data from Nansen, nonfungible token (NFT) whale Jeffrey Hwang — known colloquially as Machi Big Brother — dumped 1,010 tokens for a total of 11,680 Ether (ETH) or $18.6 million in the space of 48 hours.

In a Feb. 25 Twitter thread, Nansen’s Simian Psychometric Enhancement Technician Andrew Thurman highlighted the trading activity over the previous two days, and noted that it's “likely the largest NFT dump ever.”

The major selling event included 90 Bored Ape Yacht Club (BAYC) NFTs, 191 Mutant Ape Yacht Club (MAYC) NFTs and 308 Otherdeed NFTs to name a few.

In what's likely the largest NFT dump ever, in the past 48 hours Machi has sold 1,010 NFTs, including:
- 90 BAYC for 5707 ETH
- 191 MAYC for 3091 ETH
- 112 Azuki for 1644 ETH
- 308 Otherdeed for 582 ETH

But he's not registering much profit for these collections. Why? pic.twitter.com/4NyMF3gzuy
— Andrew T (@Blockanalia) February 24, 2023

Notably, however, Machi Big Brother (Machi) promptly bought back 991 NFTs following the dump, with Thurman theorizing that could be a play to either book some profits while also conducting “one big wash trade to generate huge Blur airdrop profits,” or a “pretty naked market manipulation. ”

Machi is reportedly one of the biggest receivers of the BLUR token airdrop from upstart NFT marketplace Blur, which recently ousted OpenSea from being the top-ranked NFT platform in terms of trading volume.

On Feb. 14, the project started dishing out its first round of airdrops to the community, with the amount of airdropped tokens depending on the user’s level of platform engagement and Ethereum-based NFT trading activity.

On Feb. 17, blockchain analytics platform Arkham Intel indicated that Machi had received 1.8 million BLUR tokens, and cashed it all out for $1.3 million.

Machi is currently not holding any $BLUR - like others, he sold it all.

In total, he received $1.3M for his 1.8M Blur tokens, selling at an average price of $0.707.

It took 38 separate transactions for him to completely sell his $BLUR! pic.twitter.com/nhJpGK1uFf
— Arkham (@ArkhamIntel) February 16, 2023

As such, Machi could be looking to score some fresh BLUR tokens in the next round by ramping up NFT trading activity, while other whales may be looking to do the same also.

Looking at the floor prices of top collections that Machi initially dumped, BAYC, MAYC and Otherdeed NFTs have seen their prices drop 7.77%, 9.2% and 8.16% in the past 24 hours, according to data from NFT Price Floor.

“One man's quest for an airdrop is wrecking some markets,” Thurman noted in a subsequent post.

FWIW my "partial cashout" theory doesn't seem to be panning out -- he hasn't sent anything to Binance in a while pic.twitter.com/FbqBsRzjHd
— Andrew T (@Blockanalia) February 25, 2023

At the time of writing, BLUR sits at $0.79 with the price declining by 17.7% over the past seven days, according to CoinGecko.

On Feb. 22, the Blur team tweeted that the project will soon airdrop $300 million worth of tokens in its second round, or “season two.”

NFTs will act as high-end property during boom cycles: Real Vision CEO

February 21, 2023 Coin Telegraph

BAYC

The former hedge fund manager suggested that top-tier NFTs essentially serve as status symbols, and should see significant upside during crypto boom cycles.

Real Vision CEO and co-founder Raoul Pal believes nonfungible tokens (NFTs) will act similar to “high-end property” in the traditional economy, outperforming Ether (ETH) during crypto market boom cycles.

In an hour-long YouTube video published on Feb. 20, the former JPMorgan executive offered a run-down of what he felt most bullish about when it came to NFTs, including key use cases for the asset class, its underlying tech, and its potential performance relative to Ether.

Boom! Here you go...

My deep dive thesis and understanding on NFT's, what they mean, where they are going and why they are important and more.. It's all Ive got right now but will evolve!

I think it's a really important piece. Appreciate any feedback!https://t.co/JMOdBnmrxh
— Raoul Pal (@RaoulGMI) February 20, 2023

Pal said just as “high-end property” often outperforms the market when the “economy recovers,” the same is likely to occur with certain NFTs during crypto boom cycles.

“So I can take my ETH and put it into a JPEG, an NFT. But why? Well, because much like high-end property and think of a [Crypto]Punk as a high-end property in London or New York or Hong Kong or wherever it is, when the economy starts booming and people have more money, they tend to buy expensive high-end property.”

“And it tends to outperform the rest of the market. And I think the same thing will happen in ETH economy,” he added.

He highlighted that major collections such as CryptoPunks and the Bored Ape Yacht Club (BAYC) have become status symbols in the crypto community, much like owning a luxury house, car, or item from a famous brand, which offer access to exclusive clubs, or what he dubbed as “mini network-states.”

He suggested that NFTs serve as a “way of owning property in the ETH economy,” adding:

“Humans are ridiculous and we love to socially signal stuff.”

Looking back, the former hedge fund manager said NFTs started to draw his attention in 2022 as he started to “understand the power of what they are and what they can do,” such as being able to transfer “value” via blockchains and automated smart contracts.

He also pointed to NFTs' uses in the resolution of contracts, noting that blockchain-based ledgers can offer verifiable transparency on what has been agreed between people, while smart contracts can essentially do away with unnecessary third parties.

“Now what's interesting about the smart contract element of an NFT is the fact that it kind of allows for the settlement mechanism to be automated in code and resolves without the need for a third party so you don't need the courts, the lawyers, the notaries and the accountants.”

Pal stated that since he got into NFTs, he’s allocated roughly 10% of his ETH holdings into “premium NFTs” such as CryptoPunks and BAYC NFT.

He suggested that such collections potentially offer more upside potential than downside risk, as they have managed to sustain a decent level of value during the bear market. He also believes the price of ETH is likely to increase moving forward.

“When you look at the price of Crypto Punks and Bored Apes, they’ve remained incredibly stable in ETH terms. Yes, they had a blow-off top and they came back and they’ve traded about 65 ETH forever. And that’s interesting to me because they didn’t fall much further. They had a sharp spike in June in the big crypto collapse. But other than that, they’ve just rallied back and stayed at 65 ETH. So whatever ETH does, they’re just mirroring it,” he said.

BAYC

‘Blue chip’ floor prices near two-year lows

Credit Suisse takes a shot at NFTs

Slow sales for Melania Trump’s NFTs

Dior’s NFTs go quiet about the ‘NFT’ part

Other Nifty News

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