In 2021, the excitement around NFTs was overwhelming. Headlines were enthusiastic and enthusiastic, and art collections and virtual parcels sold quickly.
Despite all this excitement and the market has cooled considerably, NFTs still make big news on a regular basis. Let’s take a look back at some of the most important NFT stories of 2022.
NFT Market Slumps -99%
In 2021, it seemed everyone, including many large corporations and popular entertainers, was flocking to NFTs and NFT-based virtual worlds. Mark Zuckerberg has put billions into Meta’s virtual reality division and its Horizon Worlds metaverse.Fast forward from New Year’s Day to September 2022, NFT trading volume is crater 97%. By November, it was -99%.
Cryptocurrency market cap plummeted by $2 trillion between November 2021 and July 2022, but NFTs got even worse.flat Once 6-figure NFTs are down 99%.
Starbucks Selects Polygon for NFT and Rewards Program Technology
Starbucks, September 2022 announced We plan to launch an NFT-based Starbucks Odyssey program. This program builds on the existing Starbucks Rewards, giving customers the opportunity to purchase or earn experiences and rewards.
Donald Trump promotes plagiarized NFT collection
Donald Trump released an NFT collection via his Truth Social account, selling pictures of himself as a fictional hero for $99 apiece. but still sold out. By December 20th, the value will be put in a tank over 70.
The collection was then blown up for being nothing more than a series of inappropriate Photoshop images.PCMag and Gizmodo Writers found Evidence that the creators of the NFTs may have plagiarized styles from fashion brands and stolen images from Amazon clothing.
read more: Best of the Worst NFTs Created in 2022
Madonna NFT auction fails
May 2022, NFT guru Beeple and pop legend Madonna cooperated Up for auction are three NFTs imagining singers. mother of creationBeeple’s previous NFTs fetched up to $69 million at auction. In stark contrast, her Mother of Creation NFTs sold for just her $135,000, $346,000, and $146,000.
At the time, some people condemned Relatively low prices in the declining NFT market and general poor performance in the digital asset market. Others blamed the poor taste of the artwork used for the Madonna-drawn NFT. tried In order to protect.
After the theft, Seth Green was forced to buy back the Bored Ape
Seth Green May 17, 2022 Admitted He revealed that he lost four NFTs, including a good Bored Ape and two Mutant Ape, in what he said was a phishing attack. Someone may have purchased his one of the stolen NFTs before the information was made public.
He paid an NFT collector called “Mr. Cheese” $297,000 to recover Bored Ape. At the time, he was planning to use his NFT for his animated show White Horse Tavern.
Nike sells sneaker NFT image for $134,000
April 2022, Nike release An NFT collection called CryptoKicks inspired by sneakers. One of them he said in May that he sold for $134,000, but didn’t even offer buyers actual Nike sneakers, making it look like a cynical money maker. There have been criticisms.
Chevrolet, Corvette NFT Up for Auction
Chevrolet fared better than some brands, auction The Corvette NFT that actually came with the car — specifically, the lime green 2023 Corvette Z06. Chevy has promised it will be the only car painted in that color to represent the unique nature of the NFT.
NFT ragpull plotter gets charged after making headlines
As is common in the cryptocurrency industry, the NFT niche is flooded With fraud and ragpull. In 2022, several lagers face possible convictions.
- On March 24, 2022, law enforcement officials will arrested two people behind Frosty NFT Rugs has been charged with conspiracy to commit fraud and money laundering.
- The Department of Justice announced on June 30, submitted Six people have been charged, including founder Le Anh Tuan, in connection with the Baller Ape Club scam.
- Law enforcement officials may still be investigating some NFT rug pulls, like the Big Daddy Ape Club, which pulled a rug after selling a collection at Civic. A civil official said he was cooperating with authorities on the incident.
Bored Ape Yacht Club creators sue copycats
Bored Ape Yacht Club Creator Yuga Labs sued Yuga Labs accused artist Ryder Ripps of causing confusion by posing as satire and attempting to tarnish his reputation by portraying Bored Apes as a Nazi. claimed to have done so. In a statement on his website owned by Ripps, he claims that the work containing Bored Apes is an attempt to recontextualize his Bored Ape artwork.
Minecraft denies plans to support NFTs
Minecraft has been classified as one of the video games awaiting NFT announcements throughout 2022. Everyone wanted to participate in a potential Minecraft NFT. However, no announcement came.
Instead, Minecraft developer Mojang rejected He said all Minecraft players should be able to access the same content, and revealed plans to integrate NFTs. Mojang also reiterated that his independently owned Minecraft server is not allowed to integrate blockchain technology or NFTs.