The way I read the article, the “worth millions” is the sum of the ransom demand.
The funny part is that the exploit is in the “smart” contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.
The way I read the article, the “worth millions” is the sum of the ransom demand.
The funny part is that the exploit is in the “smart” contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.
Love how the NFT hype was a big wealth transfer event. So many rich people, like wealthy oil Arabs, bought into the scam and moved so much money into artists pockets while they essentially got nothing in return.
That’s not really what happened. Some people who had invested in companies that would make money if NFTs went up in value chummed the waters by buying NFTs for huge amounts, convincing a lot of people that NFTs were going to be great investments. Then celebrities with an interest in the scheme pumped up the value too.
That convinced a lot of idiots to “invest” in NFTs, then eventually the bottom fell out of the market.
As for artists, some made some money, but most of the money went into shit like “bored apes” which were algorithmically generated.
My favorite is Murakami, who after selling NFTs he made paintings after all all of them. So which one is the “original”? The actual physical painting, or the digital NFT?
Technically, the NFT. In reality, the physical. Is a lot harder to brag about your art assets if you have to log into your pc to show them off.
That’s why I feel like he just trolled all the buyers of his NFTs.