Nifty News: Building bridges in the Metaverse, elaborate Apes scam and more

December 19, 2022 Coin Telegraph

A South Korean province is using the Metaverse for closer economic ties with Vietnam and an elaborate phishing scam netted 14 Bored Apes.

South Korea’s Gyeongbuk Province has announced plans to use Web3 technology to expand its economic relations with Vietnam.

In a Dec. 19 announcement, the province’s governor Lee Cheol-woo said the metaverse project would focus on “growing economic, cultural, commercial, and people-centered contacts with Vietnam.”

Back in June, the province announced it would invest $13.8 million to establish itself as a hub for metaverse innovation in the hope of growing the local economy.

South Korea has been very active in Metaverse development since the beginning of 2022 and it aims to become the fifth most metaverse-ready country in the world. It has allocated $186.7 million to create an all-encompassing metaverse platform known as Expanded Virtual World.

14 Bored Apes stolen in phishing scam

A Cybersecurity analyst using the name Serpent has detailed in a lengthy Dec. 17 post how a scammer allegedly stole 14 Bored Ape Yacht Club (BAYC) nonfungible tokens (NFTs) through a month-long social engineering scam.

The analyst alleged the scam began when the victim was asked to license the IP rights for the Apes, with the scammer claiming to be “a casting director working for ‘Forte Pictures’,” on an NFT related film called "The Return of Time.” He said the alias used by the alleged scammer was fake, although Forte Pictures is a real company (and not involved).

Using a fake website, fake pitches, legal contracts and other elaborate subterfuge including Twitter spaces to build credibility, they offered a bid for the NFTs and directed the victim to a fake NFT platform where they were asked to “sign the contract" which is where the wallet drain took place.

“The scam website displayed a gas-less Seaport signature, which they claimed he needed to sign for the license. However, the signature actually created a private bundle listing of all of the victim's BAYCs to the scammer for 0.00000001 ETH,” Serpent said.

“The scammer's wallet, funded by Secret Network, ran the match orders function to complete the private sale. The scammer then accepted the highest WETH offers on all of the NFTs, then converted the 852.86 WETH to 1.07m DAI,” the analyst added.

10/ A few notes to take:
- Understand what you're signing, don't blindly sign random signatures/transactions
- Don't sign Seaport signatures outside of OpenSea
- Don't trust new/random platforms
- Use multiple wallets (Hot, cold, hardware)
- Always confirm authenticity/identities
— Serpent (@Serpent) December 17, 2022

Manchester United Launch NFT collection

Manchester United Football Club (Man U) has launched its first collection of NFTs on the Tezos blockchain.

According to the collections website, the initial drop was free, and only required fans to sign in using their Tezos wallets to claim an NFT.

The wait is over!

Get United's first digital collectible! Unlock now

Powered by @Tezos and brought to you by Tezos ecosystem companies. #MUFC || #CollectUnited
— Manchester United (@ManUtd) December 16, 2022

NFTs were divided into three groups based on their rarity — classic, rare and ultra rare — and were distributed to subscribed fans at random.

Each NFT acts as a key offering access to competitions, tickets, content on Discord and the chance to join the club’s new virtual world which is set to launch at a later date.

Trump NFT collection right clicked images?

Eagle eyed social media sleuths are questioning whether former United States president Donald Trump’s NFT collectible project has plagiarized images from other sources.

On Dec. 15, the former president unveiled a collection of 45,000 NFT trading cards, with the artwork depicting himself in outfits such as golf attire, hunting gear and a superhero costume.

In the days following the NFT drop, some Twitter users undertook reverse image searches on Google and uncovered similarities between the NFTs and images from a variety of other sources including Amazon and Shutterstock.

In one example, Matthew Sheffield, who describes himself as a right-wing media operative, compared an NFT of Trump wearing waders and holding a rifle, to a very similar wader set from a hunting apparel company.

Trump's NFT of him pretending to be a hunter (something he would not be caught dead doing in real life) seems to be derived from this wader set https://t.co/OepeYADNB6 pic.twitter.com/cJ8sxDu5m2
— Matthew Sheffield (@mattsheffield) December 16, 2022

More Nifty News:

Amazon's new series 'NFTMe' explores NFT culture and disruption worldwide as artists, collectors, and industry professionals across the world share their experiences with NFTs and how the merger between art and technology has positively affected their daily lives.

Artist and founder of the family-friendly NFT collection Lucky Ducky, Jeremy Fisher, told Cointelegraph that NFTs are great tools for general mass adoption and teaching newcomers about the space, including younger generations.

Polygon, Solana and Five Ethereum (ETH) Rivals Are Top Altcoins for Accumulation: InvestAnswers

November 10, 2022 The Daily Hodl

Tezos (XTZ) Creator Arthur Breitman Says One Popular Crypto Sector Is Unsustainable

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Shopify users get their hands on Tezos NFTs with new partnership

October 19, 2022 Coin Telegraph

Coin Telegraph

The Tezos NFT ecosystem gained a lot of traction over the past year due to its low cost of minting and energy efficiency.

The Tezos blockchain partnered with Web3 automation platform Taco to allow Shopify users to access Tezos nonfungible tokens (NFTs) via Taco’s NFT loyalty program. The e-commerce giant has established itself as a growing destination for brands looking for Web3 engagements.

TheTaco app allows brands to integrate Web3 solutions such as NFTs to increase engagement with customers and e-commerce platforms such as Shopify use Taco app plugins to offer these services to their merchants.

The NFT loyalty programs aid brands in strengthening their bonds with consumers, boosting customer engagement and retention. The latest integration of Tezos NFTs would help the blockchain utilize its NFTs to reward devoted customers with special offers, discounts and experiences.

With the latest integration of Tezos into the Taco app, Shopify merchants everywhere now have a new method to interact with customers and connect to the expanding Tezos NFT community.

Earlier in June, Shopify announced a new reward system called Tokengate under its connect-to-consumer initiative. Token gate allowed select merchant partners to roll out exclusive goods for NFT stakeholders. The e-commerce giant was among the first to integrate Bitcoin and Lightning payments on its platform.

Tezos' energy-efficient architecture, added to its affordable NFT minting and low transaction fees, has drawn a diverse NFT community of artists, collectors and builders from all around the world. The high energy efficiency of Tezos has made it the go-to platform for NFT integration, for example, gaming giant Ubisoft integrated Tezos NFTs for its gaming rewards toward the end of 2021.

Tezos, a proof-of-stake blockchain registered a significant bump in on-chain activity and smart contract transactions thanks to a rising NFT market. The platform registered 50,000 transactions per day in the first quarter of 2022 from less than 10,000 per day in January 2021.

Tether Reveals USDT Stablecoin Is Now Supported by Polkadot

September 23, 2022 Bitcoin.com

Here is why a 0.75% Fed rate hike could be bullish for Bitcoin and altcoins

September 18, 2022 Coin Telegraph

Bitcoin

The Federal Reserve is set to raise interest rates this week. Here’s why traders expect a 0.75% hike to trigger a crypto market rally.

The S&P 500 and the Nasdaq Composite index suffered their worst weekly performance since June as investors remain concerned that the Federal Reserve will have to continue with its aggressive monetary policy to curb inflation and that could lead to a recession in the United States.

Bitcoin (BTC) remains closely correlated to the S&P 500 and is on track to fall more than 9% this week. If this correlation continues, it could bring more pain to the cryptocurrency markets because Goldman Sachs strategist Sharon Bell cautioned that aggressive rate hikes could trigger a 26% fall in the S&P 500.

*Crypto market data daily view. Source:* *Coin360*

The majority expect the Fed to hike rates by 75 basis points in the next meeting on Sept. 20 to Sept. 21 but the FedWatch Tool shows an 18% probability of a 100 basis point rate hike. This uncertainty could keep traders on the edge, resulting in heightened short-term volatility.

If the Fed’s rate hike is in line with market expectations, select cryptocurrencies could attract buyers. Let’s study the charts of five cryptocurrencies that are positive in the near term.

BTC/USDT

Bitcoin recovered from $19,320 on Sept. 16 and rallied above $20,000 on Sept. 17 but the bulls are struggling to sustain the higher levels. This suggests that bears are active at higher levels.

The 20-day exponential moving average ($20,432) has turned down gradually and the relative strength index (RSI) is in the negative zone, suggesting that the sentiment remains negative and traders are selling near overhead resistance levels.

If the price continues lower and breaks below $19,320, the BTC/USDT pair could decline to $18,510. Buyers are expected to defend this level with vigor.

On the upside, the 50-day simple moving average ($21,605) is the key level to keep an eye on. If bulls push the price above it, the pair could rally to $25,211. A break and close above this resistance could indicate the start of a new uptrend.

*BTC/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the sellers are trying to stall the recovery at the 20-EMA. This indicates that the bears are in no mood to surrender their advantage. If the weakness persists and the price breaks below $19,320, the pair could slide to $18,510.

Conversely, if the price turns up from the current level and breaks above the 20-EMA, the recovery could extend to the 50-SMA. This level may again act as a resistance but if this obstacle is cleared, the next stop could be the 61.8% Fibonacci retracement level of $21,470.

XRP/USDT

Ripple (XRP) has been stuck inside a range between $0.30 and $0.39 for many days. The price has reached the resistance of the range and if bulls clear this hurdle, it could signal the start of a new uptrend.

In a range, traders usually buy near the support and sell close to the resistance. If the price turns down sharply from the current level and breaks below the moving averages, it will indicate that the XRP/USDT pair may extend its consolidation for a few more days.

Although the moving averages are criss-crossing each other, the RSI has jumped into positive territory, indicating that bulls have a slight edge. If buyers drive and sustain the price above $0.39, the pair could rally to $0.48.

*XRP/USDT 4-hour chart. Source: TradingView*

The pair rallied sharply from $0.32 to $0.39, indicating strong buying by the bulls. The 20-EMA has turned up and the RSI is in the positive zone, suggesting that the path of least resistance is to the upside.

If the price continues higher and breaks above $0.39, the bullish momentum could pick up and the pair could rally to $0.41. This level may act as a resistance but if buyers flip the $0.39 level into support, the up-move could resume.

LINK/USDT

Chainlink (LINK) has been stuck inside a large range between $5.50 and $9.50 for the past several weeks, indicating that buyers are attempting to form a bottom. The bulls pushed the price above the moving averages and the RSI jumped into positive territory, indicating that the positive momentum could be improving.

There is a minor resistance at $8.30 and if bulls push the price above it, the LINK/USDT pair could rally to the stiff resistance at $9.50. This level is likely to attract aggressive selling by the bears but if bulls pierce through the barrier, it could indicate the start of a new uptrend.

The moving averages are the important support to watch for on the downside because if they give way, the selling pressure may pick up. That could start a decline to $7 and thereafter to $6.20.

*LINK/USDT 4-hour chart. Source: TradingView*

Buyers are attempting to defend the moving averages on the 4-hour chart. That could start a recovery toward the overhead resistance at $8.20. If the price rises above this overhead resistance, the pair could rally to $9.

If bulls fail to push the price above $8.20, the bears may fancy their chances and try to sink the pair below the moving averages. That may tilt the advantage in favor of the bears. The pair could first decline to $7.50 and then to $7.

EOS/USDT

The bears pulled EOS below the 50-day SMA ($1.44) on Sept. 15 but they could not break the support at $1.34. This suggests that bulls are buying on dips and are attempting to form a low near $1.34.

A minor negative is that bulls are facing strong resistance at the 20-day EMA ($1.50). This indicates that the bears have not given up and are attempting to wrest control. This tussle between the bulls and the bears is likely to resolve with a strong breakout.

If the price breaks above the 20-day EMA, the bullish momentum could pick up and the EOS/USDT pair could rally to $1.86. Alternatively, if the price turns down and breaks below $1.34, the pair could decline to $1.24. A break below this support could sink the pair to $1.

*EOS/USDT 4-hour chart. Source: TradingView*

The recovery faltered near $1.50, indicating that bears continue to sell on rallies. The bears will try to further cement their edge by pulling the price below the strong support of $1.34, but that may not be that easy.

Buyers have defended the $1.34 level on three occasions and will again try to do so. If the price rebounds off $1.34, the bulls may again attempt a rally above the overhead resistance of $1.50. If they manage to do that, a rally to $1.70 and later to $1.86 is possible.

XTZ/USDT

Tezos (XTZ) broke below the 20-day EMA ($1.57) on Sept. 13 but the bears could not pull the price to the support line of the symmetrical triangle. This indicates that buyers are accumulating on dips and not waiting for a deeper correction to make an entry. This increases the likelihood of a recovery in the near term.

If the price breaks above the 20-day EMA, the XTZ/USDT pair could rise to the 50-day SMA ($1.66). This level has acted as a strong resistance on two previous occasions, hence it is an important level to keep an eye on. If bulls overcome this barrier, the pair could attempt a rally to the resistance line of the triangle.

A break above the triangle will signal a potential trend change. The pair could then rise to $2 and later to $2.36.

Meanwhile, the bears are likely to have other plans. They will try to stall the recovery at the moving averages. If the price turns down from the current level and slips below the $1.50 to $1.40 support zone, the June low at $1.20 may be revisited.

*XTZ/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the bulls defended the support at $1.50 and pushed the price above the downtrend line but they could not sustain the higher levels. If bears sink the price below $1.50, the pair could decline to $1.40.

On the other hand, if the price rebounds off the $1.50 support once again, it will suggest that lower levels continue to attract buyers. The bulls will then try to push the price above the moving averages and challenge the resistance at $1.62. If this level gives way, the up-move could reach $1.70.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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