The YouTube star’s huge loss on his NFT has been bumped up by a measly bid after he shared how much it had dropped in value since his purchase last year.
A nonfungible token (NFT) purchased for 188 Ethereum (ETH) at a cost of $623,000 in 2021 by American YouTuber Logan Paul saw a dramatic loss in value to only $10 by the end of September, but has seen a small bump in its price after it trended on social media.
Paul’s loss of over $600,000 on his 0N1 Force K4M-1 #03 NFT has been public knowledge for months, but after the YouTuber shared a post on his Snapchat on Sept. 27 talking about it, several Twitter users picked up the story resulting in more attention for the NFT.
Now, the token has a bid of 1.5 ETH on OpenSea, around $1,900 at time of writing.
Paul isn’t the only one feeling the pinch after the crypto market took a sharp fall in May, kicking off the start of the ongoing crypto bear market.
NFT trading volume has plunged 98% from the $6.2 billion witnessed around the end of January to $114.4 million today.
Ford, Jack Daniel’s, and more make notable crypto trademark applications in September
Data shared by trademark attorney Mike Kondoudis on Twitter shows so far this year 4,618 United States trademark applications have been filed with the U.S. Patent and Trademarks Office (USPTO) related to the Metaverse, and virtual goods or services, with 367 of those taking place in September.
Notable filings for the month include the car brand Ford filing 19 trademarks for all its major models of trucks, cars, and vans to be represented in an NFT as virtual vehicles.
Whiskey manufacturer Jack Daniel’s filed a new trademark application on Sept. 19 for NFT-authenticated media, virtual beverages, barware, clothing and digital collectibles.
Media brand Viacom International filed two trademarks for the Teenage Mutant Ninja Turtles on Sept. 12 to expand the brand into NFT backed media, crypto collectibles and crypto-collectible transfer software.
Paramount Pictures also filed two trademarks for their Mean Girls brand on Sept. 12 to expand into NFT backed media, crypto collectibles and crypto transfer software.
Binance set Guinness World Record for the largest crypto lesson
Crypto exchange Binance teamed up with Mexico based agency the Talent Network to break a Guinness World Record for the largest cryptocurrency lesson in the world during an Oct. 7 class at Blockchain Land, Nuevo León, Mexico.
While only 289 people attended the 50-minute class held by Binance, it was enough to break the record.
Carolina Carnelli, head of marketing at Binance in Latin America instructed the attendees on crypto and Web3, how it can contribute to the freedom of money and financial inclusion around the world, and the benefits of blockchain.
The lesson also featured a remote presentation from Changpeng Zhao, Binance’s founder and CEO.
The hybrid event combined in person and online attendees, but online participants did not count toward the total for the record.
The Talent Network has two previous records already, for the world’s largest robotics class in 2018 and the world’s largest software class in 2019.
IHOP bamboozles crypto users with ‘NFT’
The International House of Pancakes (IHOP) decided to get in on the NFT craze by launching their own so-called “NFT.”
It teased their “NFT” drop on Twitter on Oct 6. to a mixed response, one Web3 supporter said,” kudos to IHOP for having the courage to be on the leading edge and innovating for the future.”
As promised, we just dropped our #NFT: New French Toast! It’s Thick, Fluffy and extremely fungible. pic.twitter.com/r0sZKeBq0a
— IHOP (@IHOP) October 10, 2022
However, when the food chain revealed its “NFT” it was actually a new French toast meal launched for the chain, which it’s calling “New French Toast” or “NFT.”
More Nifty News:
Ethereum (ETH) blockchain-based Metaverse projects Decentraland and Sandbox hit back at reports suggesting low daily user activity on their platforms, claiming the data used was based on a “misinformed” metric.
The anonymous creator of decentralized finance (DeFi) project aggregator DefiLlama, 0xngmi, announced on Twitter that their smart contract code for a novel NFT borrowing and lending protocol dubbed “LlamaLend” is near completion. The protocol aims to solve the problem of NFT holders needing to obtain liquidity when holding their digital collectibles, and primarily targets small collections.
