In this week’s newsletter, learn about football player Cristiano Ronaldo facing lawsuit after promoting non-fungible tokens (NFTs) tied to cryptocurrency exchange Binance, and learn how NFT collectors thwarted attempts posing as journalists Hacking attempt. In other news, Azuki DAO is changing its name to Bean, game developer Square Enix announced an NFT series, and one user claimed $11 million worth of tokens in the recent Blur airdrop.
Cristiano Ronaldo indicted for promoting Binance and unregistered securities
Football superstar Cristiano Ronaldo faces a class-action lawsuit over his alleged partnership with cryptocurrency exchange Binance to sell unregistered securities. The famous footballer has a multi-year partnership with the exchange to promote NFT collections related to Binance’s NFT-focused division.
The legal complaint alleges that Ronaldo encouraged his millions of fans to invest using Binance and contributed to its growth. The plaintiff also claims that Ronaldo’s NFT sales successfully facilitated transactions, resulting in a 500% increase in search volume after the initial sale.
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BAYC boss was asked to buy a banana and almost fell victim to fake Forbes scam
Anonymous NFT trader “Crumz” avoided a scam that would have stolen NFTs from his collection. According to the trader, a person posing as a reporter from Forbes requested an interview regarding the Bored Ape Yacht Club (BAYC) series.
During the interview, the scammers asked Crumz to click a button that would allow them to record the interview and asked him to distract him by saying something similar to his BAYC NFT. Scammers took control of his screen, but Crumbz foiled the hacking attempt before losing anything.
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Azuki DAO drops lawsuit against founder and changes name to “Bean”
Azuki DAO, an unofficial decentralized autonomous organization (DAO) created for the NFT series of the same name, announced that it will be renamed “Bean”. The DAO also dropped its lawsuit against Azuki founder Zagabond.
According to Azuki developers, The DAO will become a memecoin project and join the ecosystem of Ethereum layer 2 platform Blast. The developers also claim that Bean has received $10 million in investment for its development and acceleration.
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Square Enix Announces Symbiogenesis NFT Auction Date
Square Enix, the developer of popular game series such as Final Fantasy and Kingdom Hearts, has begun auctioning off its Symbiogenesis NFT. The social media announcement emphasized that the first batch will be from November 27th to 28th, and the second batch will be from November 30th to December 4th. The third batch of NFTs will also be auctioned on December 12. twenty three.
Symbiogenesis is a blockchain game currently being developed by Square Enix. The game will feature Web3 elements such as Ethereum-based NFTs.
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Users received US$11 million in Blur token rewards in the second quarter airdrop of the NFT market
One user who participated in the recent airdrop of NFT marketplace Blur has claimed approximately $11 million worth of tokens.Wallet with ENS tag “here.eth” More than 22 million Blur tokens were claimed in the second quarter airdrop of the NFT platform. The owner of the address celebrated on social media and posted their reward for all to see.
While some seemed happy with the results, NFT whale Jeffrey Hwang, who cursed Blur after the airdrop, seemed dissatisfied with the reward. It is understood that Hwang has attempted what some consider to be the largest NFT dump, aiming to generate more profits through airdrops.
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Thanks for reading this week’s summary of the most notable developments in the NFT space. Come back next Wednesday for more reporting and insights into this actively growing area.
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