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Hey there, NFT aficionados and crypto enthusiasts! If you’ve been too busy minting your latest masterpiece or trading digital unicorns, you might’ve missed some sizzling news in the NFT universe. But don’t worry, we’ve got you covered. Here’s your weekly digest of the hottest, most buzzworthy happenings. Buckle up, it’s gonna be a wild ride!
Trump NFTs: From “You’re Fired” to “You’re Hired!”
First up, Donald Trump’s NFTs are making headlines, and not just because they’re yuuuge! After a cozy chat with Tucker Carlson on the platform formerly known as Twitter, these digital Trump cards are selling like hotcakes. The price tag jumped from a “meh” $150 to a “whoa” $215! So, whether you’re Team Trump or just in it for the crypto, these NFTs are the talk of the digital town.
Last December, Trump dropped this collection of 45,000 fantasy cards, each priced at $99. They’re like baseball cards, but instead of Babe Ruth, you get The Donald. And guess what? Over 13,000 peeps are now proud owners of these digital gems.
But wait, there’s more! If you snagged one of these cards, you’re automatically in the running for some “Trump Time.” We’re talking Zoom calls, dinner in Miami, or even cocktails at Mar-a-Lago. Talk about a MAGA moment!
Now, who’s hoarding these digital treasures? A wallet tagged “6D65A7” is leading the pack with 602 cards, and “72F891” is not far behind with 500. But don’t hold your breath; neither of ’em is selling.
In other news, Trump is no crypto newbie. The man’s got a crypto wallet fattened up with $2.8 million as of last month. Plus, he’s pocketed nearly $5 million in licensing fees from these NFTs. But let’s keep it real; the broader crypto market has seen better days, and these NFTs have taken a bit of a nosedive. Prices have plummeted over 50% since their May peak, and daily trades have also dipped.
So, whether you’re a Trump fan or just a crypto enthusiast, one thing’s for sure: these NFTs are making headlines, and they’re here to stay… at least until the next viral sensation comes along!
Rarible: The Royalty Revolution
Next, let’s talk about Rarible, the NFT platform that’s giving OpenSea a run for its Ether. After pledging to stick with creator royalties, Rarible’s trading volumes are soaring like an eagle—or should we say, like a rare bird? The platform’s 24-hour trading volume skyrocketed by a jaw-dropping 585%, hitting over $45,000. So, if you’re an NFT creator or collector, Rarible is the new cool kid on the blockchain, and they’re setting the stage for how NFT platforms should roll.
While OpenSea and LooksRare are seeing their volumes sink faster than a pirate ship, Rarible is sailing smooth. OpenSea and LooksRare saw their trading volumes dip by around 19% and 74%, respectively. But Rarible? They’re up 637% in the past day alone!
Alex Salnikov, Rarible’s co-founder, dropped the mic by saying they’ll cut ties with any marketplace that gives royalties the cold shoulder. By the end of September, they won’t even aggregate orders from OpenSea, LooksRare, or X2Y2. It’s like Rarible is saying, “Royalties? We don’t just support ’em; we stan ’em!”
So, what’s the big takeaway? Well, Rarible is shaking up the NFT world by putting creators first. They’re not just talking the talk; they’re walking the walk. And the market is responding with a standing ovation—or should I say, a trading ovation?
Whether you’re an NFT creator or a collector, one thing’s clear: Rarible is the new cool kid on the blockchain, and they’re setting the stage for how NFT platforms should roll. So, are you ready to join the Rarible party?
OpenSea’s Insider Trading Scandal: A Cautionary Tale
Now, let’s switch gears and dive into some legal drama. Nathaniel Chastain, a former product manager at OpenSea, is heading to the slammer for insider trading. Yep, you read that right. A three-month prison sentence, three months of house arrest, and a $50,000 fine. Talk about a rough sea for OpenSea!
Chastain was accused of using his insider knowledge to make a quick buck on NFTs. He bought 45 NFTs that he knew would be featured on OpenSea and then flipped them for a profit. While he’s a first-time offender, the judge wasn’t having any of it. The sentence serves as a wake-up call for the NFT world, reminding us that even in the digital realm, you’ve gotta play by the rules.
In a similar vein, former Coinbase product manager Ishan Wahi got a two-year prison sentence for insider trading. His brother Nikhil and associate Sameer Ramani are also in hot water, with Nikhil already serving a 10-month sentence. As for Ramani, he’s still playing hide and seek with the law.
Final Thoughts
So, what have we learned this week? Trump’s NFTs are as polarizing as his politics but they’re selling like hotcakes. Rarible is making waves by sticking to its guns on creator royalties. And OpenSea? Well, let’s just say they’re learning the hard way that insider trading is a no-go, even in the wild west of NFTs.
Whether you’re a creator, a collector, or just a curious onlooker, the NFT space is more exciting—and complicated—than ever. From legal drama to market shakeups, it’s clear that the world of NFTs is far from static. So keep your eyes peeled and your wallets ready, because this digital frontier is full of surprises.
And there you have it, folks! Your weekly dose of NFT news, hot off the press. Until next week, keep minting, keep trading, and most importantly, keep it ethical!
Featured image was taken on News.Bitcoin.com
