This week, the leading cryptocurrencies experienced widespread losses as investors shared concerns that the Federal Reserve would continue to raise interest rates in 2023 following its rate hike throughout 2022. This tension has also been reflected in the NFT world, with famous names and organizations of this community sharing their insight via Twitter. Here are those statements.
Avenged Sevenfold Ends Partnership with OpenSea
On Monday, M Shadows, the frontman for Avenged Sevenfold, voiced his displeasure with OpenSea on Twitter after it discontinued its practice of giving creators a 5-10% cut on the future resale of their work. He stated: “In response to this news, we have blocked access to OpenSea and all other marketplaces that engage in such unfair practices. The most reliable way to buy or sell our Deathbats Club is through Coinbase.”
(Tweet’s Link: https://twitter.com/shadows_eth/status/1627476907515346944?s=20)
The Friendsies Project Turned Out to Be A Rug Pull.
In an extraordinary, multi-million dollar rug pull on Tuesday, NFT news account @NFTnow divulged the story on Twitter. The Friendsies non-fungible token (NFT) collection has been controversial after they declared a “pause” and erased their Twitter – intensifying speculation that the project could be a rug pull. In 2022 alone, during its initial drop of NFTs, it raised approximately $5 million! Friendswithyou art duo from Los Angeles took it one step further by making their own Twitter connection private following this momentous announcement.
(Tweet’s Link: https://twitter.com/nftnow/status/1628029023317069826?s=20)
There Are Concerns About New NFT Marketplace Blur
Additionally, crypto data enthusiast Kofi noted his worries that the recently popular NFT marketplace Blur was monopolized by a few professional traders. He commented on this lack of royalties for creators as “short-sighted” on his Twitter account.
(Tweet’s Link: https://twitter.com/0xKofi/status/1628100961737515008?s=20)
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