A CryptoPunk holder charged with tax evasion? So this is it, right — the beginning of the end for the wild west of NFTs? Wrong. While Waylon Wilcox's case is a stark reminder that the IRS is watching, it's an opportunity. A chance to create a more sustainable, governance-focused, and...
Blockchain Monad, a rising star in the blockchain space, is accelerating quickly, especially in the Non-Fungible Token (NFT) sphere. The platform recently launched its own testnet, which has seen phenomenal growth, attracting over a million wallets. Alongside it, NFT has inspired a dynamic culture of builders, collectors, and artists. Monad,...
A $10 million loss. Just gone. And that’s what just happened to the poor sap that spent $16 million on a CryptoPunk and just days ago sold it for $6 million. An NFT – a Non-Fungible Token. A digital certificate of ownership for a specific object or work of art,...
A CryptoPunk non-fungible token (NFT) recently sold for such a loss at $10 million. This dramatic sale further highlights the volatile nature of the digital asset market. The NFT market has been in a steady downward spiral since its height in 2021. This incident is a particularly harsh reminder of...
The non-fungible token (NFT) market has crashed, with two-thirds of marketplaces’ transactions denominated in Ethereum dropping below $20. Formerly treasured CryptoPunk NFTs are now hitting the market at 99% off. NFTs that once sold for more than $1 million dollars can now be picked up for as low as $65,000....
In 2021, the NFT market soared to $41 billion, generating buzz among big-time investors, creators, and entertainers. Like many overinflated markets, it soon suffered a heavy correction, often called the “NFT winter.” This article explores the reasons behind the NFT market crash, offers advice for current NFT holders, and discusses...
We've all heard the stories. The million-dollar JPEGs, the get-rich-quick schemes, the hope of a decentralized heaven for creatives. What happens when the music stops? This recent NFT crash is more than just a market correction. It’s a reminder that market hype without guardrails can create brutal outcomes, especially for...
The NFT market has been incredibly volatile, with many projects or collections having had lost as much as 90% of their initial value. Despite the ongoing crypto winter, the recent sale of CryptoPunk #3100 for 4000 ETH made waves. This sale—which was valued at approximately $16 million—has sparked rampant speculation...
CryptoPunks, designed by Larva Labs in 2017, is a set of non-fungible tokens (NFTs). It has enjoyed tremendous success and has wrestled through difficult times in the ever-evolving digital marketplace. In 2021, the initial creation of 10,000 avatars became the poster child of the NFT boom. Individual NFTs from this...
Imagine losing millions overnight. And, of course, you didn’t just lose money in an abstract market crash. Rather, you figured out that the NFT you purchased as a store of value was actually a really costly JPEG. That’s the reality one just experienced with the sale of CryptoPunk #3100. Granted,...