Sotheby rakes $100 million profit from NFT auctions

While blockchain technology has been with us for the best part of the last decade, 2021 is unarguably the year that saw a widespread adoption of some of the use-cases of the technology like its use in crypto, non-fungible tokens (NFT) and even in decentralized finance (DeFi). One of the earliest traditional auction houses, Sotheby,…

How a $300,000 Bored Ape NFT was sold for $3000

Mistakes can be very costly especially in a space like crypto where everyone is looking to maximize profit. One mistake could lead to the loss of millions for one person while resulting in enormous gains for another. This is the bitter lesson an erstwhile holder of a Bored Ape Yacht Club (BAYC) NFT learned as…

Opensea causes 10% of all Ethereum burn as sales jump 100% in 24 hours

After all of the highs surrounding NFTs for most part of the year, the nascent crypto niche is witnessing a downturn in its trading volume which is currently at a three-month low. However, despite the belief of some analysts that the space is currently in a bear market, OpenSea, the largest NFT marketplace, has contributed…