LT;DR Mar. 3 NFT Recap: OpenSea Sanctions

LT;DR Mar. 3 NFT Recap: OpenSea Sanctions

Top News Today:

  • OpenSea Restricts Iran

  • Treasure Marketplace Exploit

  • Another Polygon P2E Delayed

  • Top NFT Movers

OpenSea Restricts Iran

OpenSea released a statement via discord this afternoon about the termination of Iran-based internet protocol addresses. After restricted users took to Twitter, the team stated they had received "a lot of inquiry from the community... [surrounding] users being able to transact in Iran". The announcement goes on to state that according to OpenSea's terms of service they must comply with US laws including sanctions law. After recent sanctions went in place, OpenSea was "legally required to block people in places on the US sanctions list". The team at OpenSea admits they want to be as welcoming as possible for everyone entering NFTs, their hands are tied in this situation.

Treasure Marketplace Exploit

Treasure Marketplace, the largest Arbitrum NFT marketplace, was hit with an exploit last night. The hacker stole 17 smol brains ~$1.2 million in an exploit that allowed them to manipulate the listing price and pay 0 to steal the NFTs. This caused panic on Twitter as @KeyboardMonkey3 "DELIST ALL YOUR SHIT OFF TREASURE MARKETPLACE, THIS ISNT A JOKE". Shortly after this news became public the Treasure DAO co-founder John Patten tweeted a confirmation of the exploit stating "We will cover the costs of the exploit — I will personally give up all of my Smols to repair this". This caused the price of $MAGIC to drop off significantly before recovering to be down only 15% on the day. 

Another Polygon P2E Delayed

CyberKongz had to delay the release of its game, Play & Kollect, for “a few days” this afternoon. The CyberKongz moderator stated via discord that "obstacles that are out of our control” had caused the delay and they are waiting on on a “response from Polygon.”

CyberKongz become another established PFP project who struggled with releasing a game on Polygon following Cool Cats. Originally scheduled to be released early in February, Cool Cats have yet to release the game and are holding a town hall on Friday to provide additional information regarding the issues they faced while establishing the polygon gameplay for Cooltopia. 

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  • Antonym Genesis jumps to the top of our rankings page with 1,929 ETH in volume over the last 24 hours. Selling the remaining supply at 0.185 ETH the floor has held well above mint but dropped off from its first day of trading yesterday sitting at 0.56 ETH now. 

  • Clone X gets back into the top volume as it rises 66% day over day to a solid 1,300 ETH secondary sales today. The floor hasn't moved in the last 24 hours but is still an impressive 12.5 ETH. 

  • Wonderpals is on our rankings page again after reveal, down 7% in volume still up over 1,000 ETH. Floor price has begun to recover since the post-reveal sell-off up 24% on the day. 

  • Check out Lucky Trader's full NFT project rankings here


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