Opensea has announced its acquisition of Rally, a move that aims to enhance its mobile and token trading capabilities. Chris Maddern, the new Chief Technology Officer of Opensea, expressed excitement about the acquisition, highlighting that the Rally team brings valuable expertise to the company. The integration of Rally is expected to supercharge a new mobile […]
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Are NFTs Still Relevant in 2025?Non-Fungible Tokens (NFTs) are unique digital assets that represent ownership of something on-chain — most commonly art, collectibles, music, or in-game items. While the hype of 2021-2022 may have faded, NFTs remain a vital part of Web3 infrastructure, especially as they evolve from speculative JPEGs into utility-driven assets.The Current NFT Landscape: Art, Culture & CommunityIn today’s NFT scene, most collections are still centred around visual art, profile-picture (PFP) collectibles, and community-driven ecosystems. Holders often get exclusive perks, early access to events, voting rights, and more. Some projects focus on fine art, others on storytelling or gamification — but the trend is moving toward more real-world use cases and deeper utility.Future Use Cases of NFTsBeyond art and collectibles, NFTs have massive potential across:
A set of NFT collections tied to Matt Furie, the creator of the Pepe meme, and the ChainSaw studio have been hit by a string of contract hijacks that led to more than $1 million being stolen. Attackers took control of mint contracts, drained revenue, and issued new tokens, wiping out value and leaving collectors stunned. Many fans were shocked to see the Pepe creator’s NFT projects targeted by attackers with deep access to mint functions. The theft wasn’t a one-time hit. It unfolded in stages, across multiple days and multiple collections, suggesting careful planning and a deep understanding of how the projects were structured. The fact that the attackers gained control from inside the contract level has triggered serious concerns across the NFT community. How the Attack Played Out It began in the early hours of June 18 when the Replicandy mint contract, part of ChainSaw’s ecosystem, was taken over. Ownership was quietly transferred to a new address. That gave the attacker full control. They emptied the mint funds and then reopened the contract to create new tokens. These were pushed out rapidly, flooding the market and crashing prices. 1/ Multiple projects tied to Pepe creator Matt Furie & ChainSaw as well as another project Favrr were exploited in the past week which resulted in ~$1M stolen My analysis links both attacks to the same cluster of DPRK IT workers who were likely accidentally hired as developers. pic.twitter.com/85JRm5kLQO — ZachXBT (@zachxbt) June 27, 2025 Just days later, the same playbook was used on three other ChainSaw-connected collections: Peplicator, Hedz, and Zogz. The total value drained was estimated at over $300,000 at that point, but tracking showed it didn’t stop there. The attacker moved the stolen funds through different wallets before cashing out through the MEXC exchange, all while staying several steps ahead of observers. On-chain researchers, including ZachXBT, tied the activity to wallets that had interacted with earlier contract exploits. Their analysis showed the process was not just opportunistic but systematic. DISCOVER: 9+ Best High-Risk, High-Reward Crypto to Buy in June2025 Suspicion Falls on Freelance Code Hires Things took another turn when investigators uncovered GitHub profiles linked to developers who appeared to be based in the U.S. but were using tools and settings associated with North Korea. VPN data and regional preferences raised red flags. The suspicion is that some of the contract access may have come from developers hired through open platforms, given control over sensitive systems without a full vetting process. Source: ZachXBT on X.com In a separate but similar incident, a newer NFT project called Favrr lost $680,000 under almost identical conditions. Their CTO vanished, and funds from the attack followed the same laundering pattern. This has fueled concern because people believe multiple projects may have been compromised through the same outsourcing channels. DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Aftermath and Silence The Favrr team announced they would refund users and conduct a full review of their contract architecture. ChainSaw and Matt Furie have taken a different approach. They shut down public chat channels, removed contact forms, and left collectors guessing what, if anything, will be done. EthereumPriceMarket CapETH$294.03B24h7d30d1yAll time The floor prices of affected collections have collapsed. While some owners are hoping for a recovery plan, others have started writing off the tokens as a total loss. What It Says About NFT Security This incident highlights a bigger problem in the NFT space. Too many projects depend on external developers without the right security checks. Mint contracts are powerful tools. Once someone gets access, they can change the rules, unlock funds, and create or destroy value in minutes. Now, collectors are asking more questions before jumping into new drops. Who controls the contracts? How is code reviewed? What kind of security is in place? Without clear answers, this may not be the last time an entire community watches its assets vanish overnight. DISCOVER: 20+ Next Crypto to Explode in 2025 Join The 99Bitcoins News Discord Here For The Latest Market Updates Key Takeaways
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In recent years, Non-Fungible Tokens (NFTs) have taken the digital world by storm, revolutionizing the way we buy, sell, and trade digital assets. From digital art to virtual real estate, NFTs have opened up a whole new realm of possibilities for creators and collectors alike. But when did the first major NFT project launch, paving the way for this groundbreaking technology? The answer lies in the 28th November, 2017, when CryptoKitties burst onto the scene and captured the imagination of the online community. Crypto Kitties CryptoKitties, created by the company Axiom Zen, was one of the first NFT projects to gain widespread attention. It allowed users to buy, sell, and breed virtual cats using Ethereum blockchain technology. Each CryptoKitty was a unique digital asset with its own distinct traits and characteristics, making them highly sought after by collectors. The success of CryptoKitties demonstrated the potential of NFTs to create scarcity and value in the digital realm. It also highlighted the power of blockchain technology to verify ownership and authenticity of digital assets, paving the way for a new era of digital ownership. Since the launch of CryptoKitties, the NFT space has continued to expand rapidly, with artists, musicians, and even sports organizations getting in on the action. Platforms like OpenSea and Rarible have emerged as popular marketplaces for buying and selling NFTs, offering a wide range of digital collectibles for enthusiasts to choose from. The rise of NFTs has not been without its controversies, however. Critics have raised concerns about the environmental impact of blockchain technology and the potential for copyright infringement in the digital art world. Despite these challenges, NFTs have continued to gain momentum as a unique and innovative way to engage with digital content. As we look to the future, it’s clear that NFTs are here to stay. With more artists and creators embracing this technology, we can expect to see even more exciting developments in the world of digital ownership. Whether you’re a seasoned collector or just curious about the latest trends, NFTs offer a fascinating glimpse into the future of digital innovation.
Rare items in Off the Grid’s marketplace have sold for thousands of dollars, with ultra-rare items held back by collectors. […]