However, the article must be taken with a grain of salt. It's very difficult to determine in the moment what's simply a temporary lull rather than a death spiral, and notoriously inconsistent NFT and crypto data sources can tell wildly different stories.
- "NFT Sales Are Flatlining", Wall Street Journal
For now it sounds like the project doesn't involve selling NFTs, which raises the question of why NFTs are required at all when the goal seems to just be to display artwork online — something the Vatican already does. Personally, until I can own the Popemobile in the metaverse, I'm not interested.
The whale has repeatedly appealed to the community not to revoke his tokens, even trying to claim that the Juno developers had been secretly selling off $JUNO and damaging the community. Unfortunately for him, he didn't succeed in swaying the community, who voted on April 29 to confiscate his tokens.
The whale has threatened to take "legal action against each validator" if the community burns or locks the tokens that previously belonged to him, and which he claims to have been managing on behalf of clients in an investment scheme.
The Wikimedia Foundation has accepted cryptocurrency donations since 2014, accepting donations in cryptocurrencies including Bitcoin, Bitcoin Cash, Ether, Ripple (XRP), Litecoin, Dogecoin, and the DAI and USDC stablecoins. However, it has made up a small portion of the non-profit's donation revenue — they received only $130,000 worth of crypto donations in the last fiscal year, which made up 0.08% of their revenue.
There has been strong pressure from crypto advocates on the WMF to accept crypto donations — both in 2014 when it was initially implemented, but also via brigading of the recent community discussion.
Phishing sites appearing to be the "Otherside" Bored Ape land project steal NFTs valued at $6 million
Blockchain sleuth zachxbt found one such address that had netted around $1 million in NFTs just today, and tracing its transactions led to two other scammer wallets containing $5.1 million of other stolen NFTs.
Most trading on OpenSea during this period was for the much-anticipated Otherside land deeds, which sell for around 5 ETH ($13,500) plus gas. However, some people oddly continued to buy and sell cheaper NFTs, including one person who bought a 0.1 ETH ($275) NFT and paid $3,850 in transaction fees.
This is hardly the first instability the network has demonstrated, much to the chagrin of its users. Transaction flooding is an issue on Solana in part because of the low transaction fees compared to networks like Bitcoin and Ethereum, which have relatively high gas fees that would make flooding extremely expensive.
In late April, the Twitter account was suddenly suspended. On April 30, the TMNT project announced in their Discord that they had discovered that they had been sold a "fake IP rights contract", which they learned after communication from Paramount. They, probably overly optimistically, wrote that they would be pausing the project but they were hoping to "continue the project hand in hand" with Paramount.
Fei Protocol tweeted that they had paused borrowing to avoid further thefts, and offered a $10 million bug bounty if the hacker returned the money.