this post was submitted on 17 Dec 2023
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Hackers steal NFTs worth millions. In other news, NFTs worth millions. (www.theblock.co)
submitted 11 months ago* (last edited 11 months ago) by [email protected] to c/[email protected]
161 comments fedilink hide all child comments
 

The way I read the article, the "worth millions" is the sum of the ransom demand.

The funny part is that the exploit is in the "smart" contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.

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[–] [email protected] 28 points 11 months ago (2 children)

Is there any way to confirm this? Or are there examples of artists who made a significant amount of money from NFTs? I understand its potential benefit for artists, but I mostly remember already-rich corporations (e.g. UFC) using them as another way to extract money from consumers.

[–] [email protected] 14 points 11 months ago (2 children)

Beeple made a lot

[–] [email protected] 1 points 11 months ago

He was the first big one I remember. When it still had an air of legitimacy.

[–] [email protected] 1 points 11 months ago

And, sadly, that has led to his posting a lot less content. But I can't say I blame him.

[–] [email protected] 2 points 11 months ago* (last edited 11 months ago)

There are curated NFT auction sites where only selected artists are allowed to sell their work. And you can see for how much they sell their pieces. During the hype many sold items for thousands to tens of thousands or more. Also there is Beeple who rode the hype early from the start and he became a millionaire.