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Investors reported they lost up to $2.2 million when the developer of Pond0x allegedly mishandled the token’s launch. The launch of memecoin Pond0x (PNDX) has led to millions of dollars in losses for investors, according to multiple reports on social media on July 28. Data from the Maestrobots trading app shows that the token reached a price of $0.36 before collapsing to near zero in a span of five minutes. Maestrobots chart of PNDX/USD during its launch. Source: Maestrobots. The launch of Pond0x was announced on July 28 by pseudonymous Not Larva Labs founder “Pauly,” who is known only by his X username. Not Larva Labs is the developer of an NFT trading app for CryptoPunks and for a separate parody collection called “CryptoPhunks.” It is not associated with Larva Labs, the creators of CryptoPunks. In the announcement, Pauly listed the contract address for PNDX and the URL for its official web app. Welcome To Pond0x https://t.co/iSiwpRDrix • $PNDX Contract: 0x1d4214081985ad20aa3ca93a...

One of the five members onboard the stricken submersible Titan, Paul-Henry Nargeolet, had worked with a web3 company to launch a Titanic-themed NFT collection. Nargeolet was considered to be an expert on the Titanic and was the owner of the salvage rights to the shipwreck. The NFT collection was supposedly started to “celebrate, remember, and preserve the legacy of Titanic and its passengers.” Its roadmap suggests the NFT s are going to give access to an organization called The Titanic Legacy Council, which would provide individuals a chance to “participate in key decisions regarding the exploration, experience, and engagement of Titanic ’s legacy and its artifacts.” RMS Titanic, Inc. The company that Nargeolet owned, RMS Titanic, Inc., issued a statement on June 21 when it was revealed that its founder was lost on the Titan. Artifact Labs also issued a statement on the initial news but has yet to say anything further. pic.twitter.com/nsyKy5jYdZ — RMS Titanic, Inc. (@R...

Sotheby’s latest auction sets a new record , a testament to the resilience and dynamism of the NFT art market. The star of the show, Dmitri Cherniak’s artwork, known widely as “The Goose,” flew off the auction block for an astounding $6.2 million. The tale of “The Goose” is as captivating as the artwork itself. It first rose to prominence when it was snapped up by Three Arrows Capital, a now-defunct cryptocurrency hedge fund.  Back in 2021, the company shelled out an eye-watering $5.66 million in ETH for this masterpiece. But the glory was short-lived.  With the hedge fund’s abrupt closure, the Starry Night Capital fund’s assets were thrust into the hands of liquidators, and “The Goose” landed at Sotheby’s as part of the aptly named “Grails” collection. The initial estimates for “The Goose” fell between $2 million and $3 million. But as the hammer came down, the generative artwork fetched a staggering $5.4 million, breaking record s and surpassing...

The Bitcoin mining firm said it is acquiring OrdinalHub amidst a flurry of interest in mining and purchasing Bitcoin-based NFTs, known as Bitcoin Ordinals. The launch of Bitcoin Ordinals back in January created a stir within the crypto community on their place within the Bitcoin (BTC) ecosystem. Users are debating whether they offer new use cases for Bitcoin or if it takes away from the initial peer-to-peer cash system vision of BTC. No matter the community sentiment on the Bitcoin NFT issue, this did not stop Bitcoin mining firm Luxor Mining from acquiring OrdinalHub, the primary platform for Bitcoin NFTs. The announcement came on Feb. 20, saying already 150,000 inscriptions have been made, a 15000% increase from the beginning of the month. Luxor highlighted the fact that the current state of Bitcoin Ordinals being minted and “escrowed" through various Discord servers has made it difficult for collectors and creators to keep track of all of the projects. It claims the OrdinalHu...

Despite the latest FTX-related crisis, Solana still has what it takes to win the layer-1 race, according to the head of strategy at the Solana Foundation, Austin Federa. About two months after the FTX collapse, the Solana network is stronger than ever, according to Austin Federa, head of strategy and communications at the Solana Foundation.  Federa defines the recent SOL token price crash as a short-term market reaction to the perceived connection between Solana and the defunct crypto exchange FTX. While FTX founder Sam Bankman-Fried was invested in many Solana-based projects, Federa pointed out he didn’t have any influence on the network’s operations and fundamentals.  “The external perception was that there was a very close relationship between the Solana network and FTX, which wasn’t the case,” Federa explained in a recent interview with Cointelegraph.  According to a recent report by Electric Capital, the Solana network has been experiencing a record inflow of Developers contrib...

Blockchain technology may be a solution when it comes to anti-theft measures for retailers. The retail industry is one of the most important sectors of the United States economy. Unfortunately, the COVID-19 pandemic has left the trillion-dollar retail sector vulnerable to in-store theft.  Findings from the National Retail Federation’s 2022 Retail Security Survey show that retail losses from stolen goods increased to $94.5 billion in 2021, up from $90.8 billion in 2020. Some retail ers also have to lock away certain products to prevent theft , which may lead to decreased sales due to consumers’ inability to access goods. Retailers look toward blockchain to solve retail theft Given these extreme measures, many innovative retail ers have started looking toward Technology to combat retail theft . For example, Lowe’s, an American home improvement retail er, has recently implemented a proof-of-concept called Project Unlock, which uses radio frequency identification (RFID) chips, Interne...

Along with the crypto market, even the NFT market rode the bullish wave last year. Several fresh records were created as the market welcomed a string of new participants betting on the future of digital tokens. Chalking out 2022’s Trends Unlike cryptos, 2022’s H1 tale was not all that gloomy for NFTs. As illustrated below, this year holds the record for registering the highest Non Fungible Token trading volume. In the week of May 1, the cumulative weekly sales peaked at $1.2 billion. After that, however, the sluggish market conditions did reduce the Non Fungible Token trades across the board in H2. The sale numbers have sharply fallen and have been, by and large, hovering in the $40-$50 million bracket of late. Source: The Block Art auction house Christie’s was one of the main beneficiaries of the Non-Fungible Token frenzy last year. It reportedly sold over 100 NFTs worth more than $150 million in 2021. This year, however, the 87 NFTs it sold managed to fetch it...