After getting his fans and investors interested in his NFT project “SwipaTheFox,” NBA player De’Aaron Fox dipped out of his project after it had garnered around $1.2M.
According to blockchain transactions, a wallet containing $1.6M was drained of the funds, having made multiple transfers and exchanges to make the liquidation harder to track.
According to those in the community, Fox was active on his project’s Discord often keeping members informed and exchanging voice messages.
Just as his project hit $1.2M, Fox made a statement on the Discord announcing that he had “stretched himself too thin.”
"Hey Fox Fam, just want to let @everyone know what's going on, and what the future of this project is from now on.
My intention for this project was to create a platform to connect with my biggest fans. The time and attention that y'all deserve and that I wanted to give you all/what this project requires, was not known to me and I overstepped and stretched myself too thin, trying to do this project in the middle of an NBA season. The involvement to grow the project up to the NFT communities standards is not something that is possible at this time.
I still want to reward my fans and members who have been here since day one. As a small token of appreciation, I am going to give all Swipa members in the discord with the All-Rookie and/or Green Team role a signed jersey. The snapshot of those discord members has already been taken. The team and I will also be buying back all of the Green Team and Super Fan member's story pieces, as well as rewarding our MVPs. As for the logistics, I'm having @AlbanianMarauder and @Fox_Attack facilitate the Jersey and Buyback programs. Realistically, it's going to take me a month to purchase and sign these jerseys. But I promise, that every single All-Star, will receive a signed jersey. I'm also aware of all giveaways that have yet to be paid out. You will be taken care of.
I appreciate your understanding in this difficult situation. I look forward to when we can do this the right way. @All-Rookie (5-9 Foxes) Rookie @Green Team."
Now his community is left with nothing in the wake, leaving many confused as to why he would scam people far less well off than he. Some speculate he realized he couldn’t deliver on his many promises made, including scholarships to University of Kentucky, merch, and in-person meet and greets.
Members noticed that Discord chats were being deleted and that Fox had removed commenting capabilities from his various socials. It seems people’s money left with Fox, along with their admiration and faith in him.
With NFTs seemingly touching every realm of the online world, news outlets are no exception.
The Associated Press announced the sale of an NFT that did not go over well with the public and journalists alike.
The NFT that provoked such an outcry was a video of migrants on an overcrowded lifeboat in the Mediterranean.
The AP’s Tweet announcing the sale read: “Tomorrow's drop at noon EST on the AP Photography NFT Marketplace will feature video by @felipedana of migrants drifting in an overcrowded boat in the Mediterranean.”
The tweet has since been deleted. In light of the Ukrainian-Russian turmoil, the thought of auctioning off this piece has many scratching their heads as to how this ever got approved. (Not that this piece should have ever been approved.)
After much backlash, the AP came back and said, “This was a poor choice of imagery for an NFT. It has not and will not be put up for auction. The tweet promoting it was also deleted… AP’s NFT marketplace is a very early pilot program, and we are immediately reviewing our efforts. As a not-for-profit, AP’s mission is to inform the world with accurate, unbiased journalism.”
The news outlet will still continue in their NFT efforts, however, perhaps not at the expense of human suffering. Images of “space, climate [and] war” are still slated to be sold at anywhere from $219 to $1,799.
Sotheby’s was prepared to make a $30M sale off the generative artwork of CryptoPunks, but then, the seller dropped out.
Specifics on how the deal came to unravel were not made public, but the seller, 0x650d, posted to Twitter post fallout. The first tweet mentioned that he was going to hold his collectible rather than sell. The second, much more mystifying.
A meme, with a caption implying that rugging Sotheby’s would do more for the CryptoPunk asset than showing up to auction and selling it.
Sotheby’s was highly anticipating the sale, citing it as “a monumental occasion” and saying that CP are “one of the most recognizable visual styles that have become synonymous with the digital art movement.”
In a move that is being hailed as a game changer for the entertainment industry, Warner Bros. Home Entertainment has announced the launch of the WB Movieverse with The Lord of the Rings: The Fellowship of the Ring (Extended Version) Web3 Movie Experience NFT. This groundbreaking new release will allow fans to engage with the film in ways never before possible!
Reddit has onboarded millions of new users to NFTs during a bear market. Read on to learn more.