Autor Cointelegraph By Brian Quarmby

Moonbirds fly into NFT top spot with $290M sold in four days

Moonbirds fly into NFT top spot with $290M sold in four days

Uverejnil používateľ | apr 19, 2022 |

The freshly launched Ethereum-based Moonbirds NFT project is soaring to the top of the trade volume charts after generating $290 million worth of sales in just four days. There are 10,000 computer-generated pixel owl avatar NFTs in total, which were promptly sold out on April 16 for a mint price of 2.5 Ether (ETH) per NFT, or $7,700 at current prices. The floor price (minimum average sale) has since exploded on secondary markets, with OpenSea currently showing a hefty sum of 18.45 ETH ($56,800). BLOOD MOON RISING #moonbirds pic.twitter.com/Jm6bqBVuVF— beeple (@beeple) April 16, 2022According to data from CryptoSlam, the project has generated more than $289.9 million worth of secondary sales (figure also includes mint sales). The figure places the project as the top-selling NFT collection over the seven-day and 30-day metrics, and second over the past 24 hours. Looking at the 30-day chart, the gulf in volume is notable, with Moonbirds’ NFT sales figures a whopping 52% ahead of second-placed Azuki and its $189.3 million worth of volume, and 76% of the BAYC at $164.6 million. DappRadar also highlighted that the Moonbirds #7963 NFT fetched the ninth-largest sale of all NFT collections over the past week at 135 ETH ($410,000). Top NFT Sales over past week: DappRadarThe Moonbirds project is following a similar route to the Bored Ape Yacht Club (BAYC) by launching utility-focused NFTs that grant holders access to a private ecosystem and membership club. According to the project’s roadmap, hodler benefits will include priority access to future drops, a membership club, merchandise, and early access to an upcoming Metaverse platform named “Project Highrise.”The Moonbirds NFT collection was founded by the PROOF Collective, which is working on several NFT projects and also acts as an exclusive social club for the 1,000 holders of the PROOF Collective NFTs. The collectible membership passes have an eye-watering floor price of 91 ETH ($278,800) at the time of writing. 1/25So why did I invest 120 $ETH into @moonbirds_xyz which is now valued at roughly 300 $ETH based on last sales? Why was this such an easy play for me and why am I not selling yet?Let’s dive into Moonbirds and @proof_xyz pic.twitter.com/3zuS6IgCrn— MoonCat2878 (@mooncat2878) April 18, 2022

Moonbirds’ impressive launch appears to be a result of investors heavily backing the founding members of the PROOF Collective, which includes tech entrepreneur and Digg founder Kevin Rose along with web3 investors Justin Mezzell and Ryan Carson. Related: How to get premium high-resolution metaverse and NFT imagesAn NFT collector who goes by “Cryptolocity” on Twitter highlighted Rose yesterday, noting that they backed the project due to his strong reputation, connections in the web2 and web3 worlds, along with his NFT focused podcast which has “contained some of the most life-changing ‘alpha’” for his listeners.2/ First, the major reason why this project has seen such success is the people behind it all: Kevin Rose @kevinrose and his team Ryan Carson @ryancarson Justin Mezzell @JustinMezzell are very well known figure in the Web 2 and Web 3 world and are the ones spearheading it all— Cryptolocity (@Cryptolocity) April 17, 2022

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Terra's UST flips BUSD to become third-largest stablecoin

Terra's UST flips BUSD to become third-largest stablecoin

Uverejnil používateľ | apr 18, 2022 |

The Terra (LUNA) blockchain’s algorithmic stablecoin Terra USD (UST) has flipped Binance USD (BUSD) to become the third-largest stablecoin on the market. UST is a USD-pegged stablecoin that was launched in September 2020. Its minting mechanism requires a user to burn a reserve asset such as LUNA to mint an equivalent amount of UST. According to Coingecko, UST’s total market capitalization has surged 15% over the past 30 days to sit at roughly $17.5 billion at the time of writing. The figure currently places UST as the third-largest stablecoin after it flipped BUSD with a slightly lower market cap of $17.46 billion. The asset now trailing only behind industry giants Tether (USDT) at $82.8 billion, and USD Coin (USDC) at $50 billion, however, the gap is quite substantial at this stage. The data also shows that UST has been on a meteoric pump since mid-November, with the market cap increasing by 525% since then. UST Market cap: CoingeckoDespite flipping BUSD in terms of market cap, UST is trading in volumes well below its immediate competitor, with Binance’s stablecoin seeing $2.26 billion worth of trading volume over the past 24 hours compared to UST’s $431.79 million.According to CoinGecko, the market value of Terra’s stablecoin UST reached $17.5 billion on April 18, surpassing BUSD’s $17.4 billion, becoming the third-largest stablecoin after USDT and USDC. But UST’s trading volume is very low, only 1/5 of BUSD.— Wu Blockchain (@WuBlockchain) April 18, 2022Terra has been grabbing the headlines of late, due in part to co-founder Do Kwon who recently vowed that the project will accrue a whopping $10 billion worth of Bitcoin (BTC) to back its UST reserves. Related Terraform Labs gifts another $880M to Luna Foundation GuardMuch like the wider crypto market of late, however, bullish announcements are doing little to push the price of LUNA upwards. The token’s price is down 12.4% over the past 30 days to sit at $77.31, while it is also down 34.4% since its brief all-time high of $119.18 on April 5.

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MetaMask warns Apple users over iCloud phishing attacks

MetaMask warns Apple users over iCloud phishing attacks

Uverejnil používateľ | apr 18, 2022 |

ConsenSys-owned crypto wallet provider MetaMask has sent out a warning to the community regarding Apple iCloud phishing attacks. The security issue for iPhone, Mac, and iPad users is related to default device settings which see a user’s seed phrase or “password-encrypted MetaMask vault” stored on the iCloud if the user has enabled automatic backups for their app data. In a Twitter thread posted on April 18, MetaMask noted that users run the risk of losing their funds if their Apple password “isn’t strong enough” and an attacker is able to phish their account credentials. To fix the issue, users can disable automatic iCloud backups for MetaMask as detailed: If you have enabled iCloud backup for app data, this will include your password-encrypted MetaMask vault. If your password isn’t strong enough, and someone phishes your iCloud credentials, this can mean stolen funds. (Read on ) 1/3— MetaMask (@MetaMask) April 17, 2022The warning from MetaMask came in response to reports from an NFT collector who goes by “revive_dom” on Twitter, who stated on April 15 that their entire wallet containing $650,000 worth of digital assets and NFTs was wiped via this specific security issue. In a separate thread earlier today, DAPE NFT project founder “Serpent” – who also helped gain the attention of MetaMask via posting sharing the story with their 277,000 followers — gave a rundown of what happened to the victim.They noted that the victim received multiple text messages asking to reset his Apple ID password along with a supposed call from Apple which was ultimately a spoofed caller ID.As they were reportedly unsuspecting of the caller, “revive_dom” handed over a six-digit verification code to prove that they were the owner of the Apple account. The scammers subsequently hung up and accessed his MetaMask account via data stored on iCloud. Key takeaways- ALWAYS use a cold wallet to store your valuables- Never give out verification codes to ANYONE- Protect your information, don’t give out your phone number or your personal email- Caller information is easy to spoof. Companies like Apple will never call you— Serpent (@Serpent) April 17, 2022

Related: MetaMask expands institutional offering by integrating new crypto custodiansAfter MetaMask posted the warning today, “revive_dom” expressed his frustrations with the company, noting that: “I’m not saying they shouldn’t do it but they should tell us. Don’t tell us to never store our seed phrase digitally and then do it behind our backs. If 90% of the people knew this I would bet none of them would have the app or iCloud on.”While most of the community response was supportive, others were quick to emphasize the importance of using cold storage and doing a lot of due diligence when storing assets in a hot wallet.

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Terraform Labs gifts another $880M to Luna Foundation Guard

Terraform Labs gifts another $880M to Luna Foundation Guard

Uverejnil používateľ | apr 15, 2022 |

Terra (LUNA) blockchain developer Terraform Labs (TFL) has gifted the Luna Foundation Guard 10 million LUNA worth around $820 million at current prices. The Luna Foundation Guard (LFG) is a nonprofit organization attached to Terra that is tasked with collateralizing the network’s algorithmic stablecoin Terra USD (UST) to keep it pegged with the U.S. dollar. Terraform Labs’ latest announcement came via Twitter on April 14, but did not outline what the funds will go towards specifically. However, transaction data from Terra Finder shows that 7.8 million LUNA (roughly $630 million) was promptly transferred out of the LFG’s reserve wallet yesterday. TFL has gifted an additional 10 million $LUNA to the @LFG_org. https://t.co/tNirkgGGm0— Terra (UST) Powered by LUNA (@terra_money) April 14, 2022Given Terra’s recent form, led by founder Do Kwon who has the goal of accruing $10 billion worth of Bitcoin (BTC) to back the UST’s reserves, many expect that some of the funds will go toward building its stash of digital gold. Another portion of LUNA may be burned (a way in which the UST/USD peg is maintained.) Some additional Avalanche (AVAX) tokens could be on the shopping list as well, considering both TFL and LFG purchased $100 million worth of AVAX last week. Following Terra’s recent (and ongoing) Bitcoin (BTC) buying spree, which includes the purchase of roughly 2,500 BTC ($100 million) only two days ago, the wallet belonging to LFG has become the 3rd largest hodler of digital gold globally, only tailing behind MicroStrategy and Tesla. The latest donation to the LFG comes just over a month since TFL gifted $1.1 billion worth of LUNA so that it could be burnt to mint UST and grow its reserves. According to the LFG’s accounting records, its total reserve balance stands at $2.44 billion at the time of writing, with BTC representing around 70% of that figure at $1.71 billion. At least the Luna Foundation Guard is buying the #Bitcoin dip… pic.twitter.com/8ZiPZT9SsD— Crypto Rover (@rovercrc) April 14, 2022

Related: Terra price key support level breaks after 30% weekly drop — more pain for LUNA ahead?Despite all of the bullish developments with Terra of late, the price of LUNA is down 7% over the last 30 days to sit at $81.65 at the time of writing.

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Punk6529 unveils Metaverse museum district: ‘Most high-end art NFTs ever’

Punk6529 unveils Metaverse museum district: ‘Most high-end art NFTs ever’

Uverejnil používateľ | apr 15, 2022 |

Popular NFT collector “punk6529” today unveiled an ambitious open Metaverse project that is looking to attract 100 million users. The self-funded project is dubbed “OM” and aims to be an open platform that is built and shared by the community. The broader vision for the project is to launch 10 self-governing cities with a max population of 10 million each. The museum district of the first city (Genesis City) was launched in alpha mode earlier today, with punk6529 bullishly telling their 323,200 Twitter followers that it might be “the most high-end art NFTs ever displayed in one place.” A promo video for OM shows a long list of NFTs from top projects such as CryptoPunks, Tyler Hobbs’ Fidenza collection, Bored Ape Yacht Club and Art Blocks. At this stage, there are 2000 NFTs on display that belong to either punk6529 or the project’s team members. However new users will be also able “load” their NFTs into OM’s galleries. 5/ What is in here? – The 6529 Museum of Art- The museums of 6529 team membersIt is my favorite visualization of NFT art to-date.I also think it may be the most high end art NFTs ever displayed in one place.The tour is later in the thread— 6529 (@punk6529) April 14, 2022The NFT proponent outlined that they are not looking to charge fees or generate crowdfunding at this stage, as they look to deliver a working product before scaling up via investment. At this stage, anyone is free to join and build in the alpha, as long as their “ideas match” that of the museum district.“I do not want your ETH, I want your input on how to design OM. I collect in public, I invest in public and we are going to build OM in public together.”“The fundamental governance model of OM is at the district level: Districts can either be ‘developed’ or ‘open’. 6529 is going to develop the 6529 Museum District for example. Others can develop others. Others can be free-for-all experimental spaces,” they added.To celebrate the beginning of OM I just took and minted a photo from the highest building of the #6529MuseumDistrict (inspired by @DrifterShoots). This is truly amazing, thank you for creating this. @punk6529 @6529er #OM #openmetaverse pic.twitter.com/hpRbIMgVzn— G9ralt (@G9ralt) April 14, 2022

In terms of scale, punk6529 stated that the museum district has 25 active buildings in the center square, along with another 2000 buildings that are yet to be activated. “Each building can host between 1 to 100 spaces, so this district type can easily host 100,000 citizens,” punk6529 said. The NFT collector also offered their take on an open Metaverse, noting that they envision OM as having “no one party in charge. A Metaverse where you don’t have to worry ‘who is the shareholder and do you agree with them?’. “This is not so shocking, humans have accomplished this before. There is not one human being in charge of: email, or HTML or TCP/IP or Bitcoin or ERC-721.”Absolutely blown away by the open metaverse created by @punk6529 @batsoupyum @krybharat @bonafidehan @ACthecollector & @phon_ro. Spent the evening exploring and enjoying all of the incredible art. I can see myself spending a lot of time here in the future! pic.twitter.com/l2mnsSqcp2— Michael Sidofsky (@mindzeye) April 15, 2022

Related: Animoca Brands to bet big on MMORPG blockchain gamesFor the project to grow and attract a mainstream audience, punk6529 notes that it will have to be affordable, user friendly and provide a bridge to the real world to scale beyond “ETH/crypto degens.”If all goes to plan, OM will transition into a public beta around June or July if the Metaverse attracts enough users and the tech is able to support further development and large spaces. Cointelegraph has reached out to punk6529 for more information on the project and will update the story if they respond.

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