MAYC ripoff creator pleads guilty, opens G2A NFT platform: Nifty Newsletter
In this week's newsletter, read about the Mutant Ape Yacht Club (MAYC) creator pleading guilty to fraud charges, see how users of OpenSea's nonfungible token (NFT) got a massive phishing email campaign and received bitcoin transactions. As the Ordinals rumble re-emerged, fees reversed the Ethereum network fees. In other news, gaming distributor G2A has launched a gaming-focused NFT marketplace.
Mutant Ape ripoff NFTs creator pleads guilty to $3 million fraud scheme
Aurelien Michel, the creator of the Mutant Ape Planet NFT set, which copies the popular MAYC set by Yuga Labs, has pleaded guilty to fraud in New York federal court. Michel also admitted to defrauding investors of $3 million and committing a carpet drag.
The group behind the MAYC competition falsely promised rewards and benefits to their investors and deliberately failed to deliver on their promises. Instead, they diverted the money and used it for their own personal gain. Michel admitted to being dragged to the carpet via social media and now faces a maximum sentence of five years in prison.
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OpenSea NFT users have reported a large email phishing campaign
Users of NFT marketplace OpenSea have reportedly received emails containing malicious communications from attackers impersonating OpenSea. Community members have taken to social media to report that they have received phishing attempts.
Meanwhile, OpenSea confirmed to its users in a post on X (formerly Twitter) that there was no hacking. However, while a developer might not have a vulnerability through the company's smart contracts, the developer received a phishing email, which responded that “Dev contacts have been removed from OpenSea.”
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Bitcoin's transaction fees will replace Ethereum's rumor mill
The market for Bitcoin Ordinals, NFT-like assets and BRC-20 tokens showed that the average daily transaction fee for the Bitcoin network surpassed Ethereum. In the year On November 20, Bitcoin's average daily payout reached $10.34, while Ethereum averaged $8.43.
As of October 24, the community has created more than six million Bitcoin Ordinals assets, which has redistributed around $30 million in BTC payments to the network.
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Gaming distributor G2A launches gaming-focused NFT marketplace.
Digital game distributor G2A has launched an NFT marketplace focused on Web3 games. In the press release, the company highlighted that it aims to expand its offerings by diving deeper into Web3.
According to Bartos Sukarsek, CEO of G2A Capital Group, the company has been following the development of Web3 games since Cryptokitties. Skwarczek said players are familiar with the blockchain game, and many are already involved.
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Thanks for reading this recap of the week's most notable developments in the NFT space. Come back next Wednesday for more reports and insights into this actively growing space.
