14.August 2022

NFTs In A Nutshell: A Weekly Review

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NFTs have been thoroughly falling in line with the rest of the crypto market and continuing to face plenty of drama and downturn. It’s not the end of the world, but it certainly can feel like it at times. This past week, Mastercard showed some initiative, Limewire and Algorand are off to a rocky start, and an NFT series that was once considered near ‘blue chip’ status may be on it’s downfall. 

This Week’s Non-Fungible Token News

‘MFers’ have been a highly-respected NFT project, led by pseudonymous NFT artist Sartoshi for some time now. Before the intentional lack of roadmap and careless free-for-all attitude of Goblins, there were (and still are) mfers. The distinctive design, look and feel of the profile pic collection gave it a special uniqueness that has still arguably been poorly imitated at best.

This past week, Sartoshi announced his intent to go the way of Satoshi, deleting his Twitter account and departing mfers. Sartoshi’s final Mirror post, titled “mfers next era & end of sartoshi” was posted last week and signaled some of the departing notes from Sartoshi. Despite the head’s up from the artist, the mfers collection has still faced immense selling pressure.

Tough times to endure markets like these, as speculative investments left and right have been hammered; nonetheless, these markets will likely shake out weak hands and those who show resiliency and genuine interest in seeing NFTs grow and develop will see eventual satisfaction.

Bored Ape Yacht Club ownership group Yuga Labs has removed some coding in the contract that could’ve been exploited to mint an uncapped amount of Apes, following criticism in the code from community members. A Yuga Labs co-founder released this simple tweet:

The contract owner has now been burned. While we’d been meaning to do this for a long time, we hadn't out of an abundance of caution. Felt comfortable doing it now. All done.
In lay terms: The issue flagged in this article is now impossible.


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