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web3 is going just great
@web3isgreat
tracking only some of the many disasters happening in crypto, defi, NFTs, and other blockchain-based projects since 2021 • created by @molly0xfff
@[email protected]
web3isgoinggreat.com
Joined January 2022
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  • user avatar
    web3 is going just great
    @web3isgreat
    Apr 13, 2022
    Automated by @molly0xFFF
    NFT collector gets $280 top bid for the Jack Dorsey tweet NFT he bought for $2.9 million last year April 13, 2022 web3isgoinggreat.com/?id=2022-04-13…
    NFT collector gets $280 top bid for the Jack Dorsey tweet NFT he bought for $2.9 million last year After Jack Dorsey made an NFT out of his first-ever tweet, then-cryptocurrency executive Sina Estavi won the auction in March 2021 with a 1,630 ETH bid (then around $2.9 million). A little over a year later, on April 6, Estavi tweeted that he would be selling the NFT. He listed the NFT on Opensea for 14,969 ETH (around $46 million), in an auction slated to last a week. When the auction closed, there were seven offers ranging from 0.0019 ETH ($6) to 0.09 ETH ($277). It's still up to Estavi whether or not to accept a bid.
  • user avatar
    web3 is going just great
    @web3isgreat
    May 28, 2022
    Automated by @molly0xFFF
    Luna 2.0 is down 75% from its launch 12 hours ago
    Chart showing volatile 2 hours after Luna launched at $17.60, then a slower decrease from around $6 to around $4.90
  • user avatar
    web3 is going just great
    @web3isgreat
    Apr 8, 2024
    Automated by @molly0xFFF
    The Bored Ape-themed hamburger restaurant in Long Beach, California has shut down. h/t @longbeachcounty
    A photograph of a restaurant with a sign featuring a Bored Ape NFT and the text "Bored & Hungry". The building is vacant and a sign shows "Chile Verde Mexican Food coming soon"
    Painful financial implications aside, a public transaction record means it's now trivial for anyone to see who is purchasing food at the restaurant using crypto in real time—something that has concerning implications for victims of stalking and other abuse if implemented more widely, as well as just for average people who enjoy having some degree of privacy. Anyway, hopefully the food's good—assuming the person had any appetite left after looking at a their food containers depicting an ape with green skin sloughing off its face.
    user avatar
    web3 is going just great
    @web3isgreat
    Apr 19, 2022
    Automated by @molly0xFFF
    First crypto burger purchase at Bored Ape restaurant illustrates why people don't widely do this April 9, 2022 web3isgoinggreat.com/?id=first-cryp…
    1.3M
  • user avatar
    web3 is going just great
    @web3isgreat
    Apr 19, 2022
    Automated by @molly0xFFF
    First crypto burger purchase at Bored Ape restaurant illustrates why people don't widely do this April 9, 2022 web3isgoinggreat.com/?id=first-cryp…
    Painful financial implications aside, a public transaction record means it's now trivial for anyone to see who is purchasing food at the restaurant using crypto in real time—something that has concerning implications for victims of stalking and other abuse if implemented more widely, as well as just for average people who enjoy having some degree of privacy. Anyway, hopefully the food's good—assuming the person had any appetite left after looking at a their food containers depicting an ape with green skin sloughing off its face.
  • user avatar
    web3 is going just great
    @web3isgreat
    Jul 20, 2022
    Automated by @molly0xFFF
    Minecraft announces they will not support or allow NFTs July 20, 2022 web3isgoinggreat.com/?id=minecraft-…
    Minecraft announces they will not support or allow NFTs Minecraft is a massively popular sandbox-style video game that had almost 140 million monthly active users as of 2021. Its developer, Mojang Studios, published a blog post detailing upcoming guidelines to clarify their position on NFTs and blockchain more generally. They wrote that "NFTs ... can create models of scarcity and exclusion that conflict with our Guidelines and the spirit of Minecraft." They announced that "blockchain technologies are not permitted to be integrated inside our client and server applications, nor may Minecraft in-game content such as worlds, skins, persona items, or other mods, be utilized by blockchain technology to create a scarce digital asset."
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    web3 is going just great
    @web3isgreat
    Jan 16, 2022
    Automated by @molly0xFFF
    SpiceDAO wins a $3 million auction to buy an extremely rare storyboard book of Dune, only to learn that owning a book doesn't confer them copyright January 15, 2022 web3isgoinggreat.com/?id=2022-01-15…
    SpiceDAO wins a $3 million auction to buy an extremely rare storyboard book of Dune, only to learn that owning a book doesn't confer them copyright Somehow, SpiceDAO managed to raise €2.66 million (about $3 million) to buy the storyboard for Alejandro Jodorowsky's never-made Dune adaptation. In a celebratory tweet the group wrote, "We won the auction for €2.66M. Now our mission is to: 1. Make the book public (to the extent permitted by law) 2. Produce an original animated limited series inspired by the book and sell it to a streaming service 3. Support derivative projects from the community". They were quickly informed that buying the physical book did not somehow confer to them copyright or licensing rights (much like how buying an NFT does not automatically confer you the rights to the underlying artwork!). You'd think they might have checked that first.
  • user avatar
    web3 is going just great
    @web3isgreat
    Jan 29, 2022
    Automated by @molly0xFFF
    OpenSea announces limits on free NFT minting, then reverses the decision the same day, after revealing that 80% of the items created through the feature were plagiarized, fake collections, or spam January 27, 2022 web3isgoinggreat.com/?id=2022-01-27…
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    web3 is going just great
    @web3isgreat
    Jan 26, 2022
    Automated by @molly0xFFF
    Promised NFT game "Blockverse" rug pulls 500 ETH ($1.2 million) January 25, 2022 web3isgoinggreat.com/?id=2022-01-25…
    Promised NFT game "Blockverse" rug pulls 500 ETH ($1.2 million) Blockverse, a project that promised to build a play-to-earn game on top of Minecraft, rug pulled two days after launch. The initial NFT collection sold out in only eight minutes, even though the project creators hadn't even begun to develop the game they were promising. The creators rugpulled two days later, taking the 500 ETH ($1.2 million) and deleting the project website and Discord server.
  • user avatar
    web3 is going just great
    @web3isgreat
    Jul 20, 2022
    Automated by @molly0xFFF
    NFT collector loses 100 ETH (~$150,000) in a joke gone wrong July 20, 2022 web3isgoinggreat.com/?id=collector-…
    NFT collector loses 100 ETH (~$150,000) in a joke gone wrong Bored Ape aficionado franklinisbored has apparently found a new source of entertainment by placing high bids on his own ENS domains with amusing names, causing a Twitter bot that announces ENS domain offers to tweet about it. After amusing himself by placing 100 ETH bids on joebiden.eth, elonmusk.eth, barackhusseinobama.eth, and donaldjtrumpjr.eth, he solicited suggestions on Twitter for what ENS domain he should create and then place a fake bid on next.
    Based on a follower's suggestion, he created the ENS domain stop-doing-fake-bids-its-honestly-lame-my-guy.eth and placed a 100 ETH bid on it. To his surprise, another person came along and offered him 1.9 ETH (~$2,900). Apparently excited to receive a sizeable offer for a gag NFT, franklinisbored accepted the offer and took to Twitter to write about his good fortune: "Well this is the most surprising 1.891 ETH I have ever made. I owe it all to #ENS and @gweiman_eth's creative idea. #Marketing101". Meanwhile, he had forgotten to cancel his joke 100 ETH offer, which remained active. The new buyer accepted the offer and sold the NFT back to him, pocketing 98 ETH in the process. Franklinisbored wrote on Twitter, "I was celebrating my joke of a domain sale, sharing the spoils, but in a dream of greed, forgot to cancel my own bid of 100 ETH to buy it back. This will be the joke and bag fumble of the century. I deserve all of the jokes and criticism." He also wrote that he'd sent the 1.9 ETH
  • user avatar
    web3 is going just great
    @web3isgreat
    Jul 25, 2022
    Automated by @molly0xFFF
    After five years in prison for a Ponzi scheme and a lifetime ban from the pharmaceutical industry, Martin Shkreli announces his new venture: a web3 drug discovery platform July 25, 2022 web3isgoinggreat.com/?id=martin-shk…
    After five years in prison for a Ponzi scheme and a lifetime ban from the pharmaceutical industry, Martin Shkreli announces his new venture: a web3 drug discovery platform Martin Shkreli, sometimes known as "Pharma Bro", earned notoriety after obtaining the patent for an anti-parasitic drug and hiking the price from $13.50 a pill to $750. An FTC lawsuit ordered Shkreli in January 2022 to return almost $65 million in wrongfully obtained profits, and banned him for life from the pharmaceutical industry.
    In 2018, he was sentenced to federal prison for unrelated securities fraud; a U.S. Attorney stated he "essentially ran his company like a Ponzi scheme". He spent five years in prison, and was released in May 2022. Shkreli is also banned from the securities industry, and from serving as an officer or director of any publicly traded company. If this was anyone other than Martin Shkreli, I might have been surprised to hear that, only a little over two months out of prison and while still staying in a halfway house, Shkreli is launching a "web3 drug discovery software platform".
  • user avatar
    web3 is going just great
    @web3isgreat
    Feb 20, 2022
    Automated by @molly0xFFF
    [UPDATE]: OpenSea users panic as at least $1.7 million in NFTs are stolen February 19, 2022 web3isgoinggreat.com/?id=2022-02-19…
    OpenSea users panic as at least $1.7 million in NFTs are stolenPanic erupted on February 19 as users began seeing their wallets emptied of NFTs. Early explanations blamed a new contract that OpenSea had rolled out, or an airdrop from a new NFT marketplace called X2Y2, though it later appeared that the exploiter may have successfully phished users with emails relating to OpenSea's planned migration. People urged NFT owners to revoke permissions for both the OpenSea contract and for X2Y2 until more was known, although one of the most popular websites helping people do so went down shortly after from the high traffic. An hour and a half after users began to report missing NFTs, OpenSea finally acknowledged the issue. They tweeted that they were "actively investigating rumors of an exploit associated with OpenSea related smart contracts", and wrote that they believed it was a phishing attack coming from outside of OpenSea, rather than an issue with their contract. So far it appears that mo
  • user avatar
    web3 is going just great
    @web3isgreat
    Jul 20, 2022
    Automated by @molly0xFFF
    Blockchain-powered carbon offset company Land Life starts 35,000-acre forest fire in Spain July 20, 2022 web3isgoinggreat.com/?id=blockchain…
    Blockchain-powered carbon offset company Land Life starts 35,000-acre forest fire in Spain Five villages were evacuated and a rail line was closed as a wildfire has burned 14,000 hectares (~35,000 acres) near Ateca in northwestern Spain. The fire was reportedly sparked by equipment used by a contractor to dig trees for Land Life. Land Life is a carbon offset company that focuses on reforestation, and speaks about its "autonomous planting, remote monitoring and blockchain verification". The Dutch company raised €3.5 million in a Series A round in October 2018.
    The wildfire is reportedly the second fire in that same location attributed to the company in the last month. Spain has been facing devastating fires brought on by record-breaking temperatures and drought, and Land Life acknowledged that contractors should not have been working during the heat wave due to the extreme fire risk.
  • user avatar
    web3 is going just great
    @web3isgreat
    Jun 1, 2022
    Automated by @molly0xFFF
    Former OpenSea executive arrested, charged with money laundering June 1, 2022 web3isgoinggreat.com/?id=former-ope…
    Former OpenSea executive arrested, charged with money laundering Nate Chastain was asked to resign from his position as Head of Product at OpenSea in September 2021 following allegations of NFT insider trading. Online sleuths had discovered that he had apparently bought NFTs based on insider knowledge that they would later be featured on OpenSea's front page. On June 1, the U.S. Attorney's Office of the Southern District of New York unsealed an indictment charging Chastain with wire fraud and money laundering, alleging that he had used anonymous crypto wallets and OpenSea accounts to buy NFTs before they were featured on the front page, then resell them for two to five times what he paid for them. After leaving OpenSea in the wake of the allegations, Chastain began pitching a new NFT platform called "Oval" to investors, seeking $3 million in seed funding. Chastain was arrested on June 1. The two charges he faces each carry a maximum sentence of twenty years in prison. The Attorney's
  • user avatar
    web3 is going just great
    @web3isgreat
    Jul 23, 2022
    Automated by @molly0xFFF
    GameStop's new NFT platform features an NFT mimicking a victim of 9/11 July 23, 2022 web3isgoinggreat.com/?id=gamestops-…
    GameStop's new NFT platform features an NFT mimicking a victim of 9/11 GameStop's brand new NFT platform, which launched on July 12, is off to a less than promising start. Unlike some other NFT platforms like OpenSea, Gamestop does not allow just anyone to create and list NFTs—creators have to apply and be approved individually. One of their artists, "Jules", created an NFT clearly modeled after The Falling Man, a well-known photograph of a man falling from the upper floors of the World Trade Center during the September 11 attacks in New York City. The NFT is also titled Falling Man, and pictures a model in the same position, but wearing an astronaut suit. Not only is GameStop selling an NFT of the victim of a tragedy, it's a featured image when Googling "GameStop".