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The Night That Sotheby’s Was Crypto-Punked

TokenTalk Staff

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The Night That Sotheby’s Was Crypto-Punked

It would have been the greatest insult to rock the Upper East Side on any normal night, but instead the private equity heir Holly Peterson could only laugh. Why had a Sotheby’s official denied her access to a bidding paddle?

In February 2022, Ms. Peterson, an author and art collector, was surrounded by a new clientele: the crypto nouveau riche, who made a temporary home of the art market. Their purchases occurred through the trendy innovation of NFTs, or nonfungible tokens, which registered the ownership of often digital artworks on the blockchain. Collectors then used the NFTs as rapidly appreciating investments to build their crypto fortunes.

The young collectors arrived in sweatpants and greeted one another by their Twitter handles. It was supposed to be another banner evening for the booming art market, where NFTs had come to represent almost half of the industry’s $65 billion valuation in only a couple of years. The marquee lot included 104 CryptoPunks, a selection of algorithmically generated portraits of pixelated people that epitomized the rise of blockchain-based collectibles. They were estimated to sell for $20 million to $30 million, and, for the first time, Sotheby’s had devoted a major sale to just a single lot of NFTs. It was a rare honor — one that hadn’t even occurred when the auction houses had a $450 million Leonardo da Vinci on their hands.

The night received all the marketing gusto that a company serving billionaires and their baubles could muster. Sotheby’s had described the event, called “Punk It!”, as “on par with the most significant and high-profile sales for contemporary and modern art.”

But there were early signs that the NFT market was crashing — a spectacular implosion that would shine a spotlight on the government’s failure to regulate the art market.

Ms. Peterson was one of many traditional collectors who attended the auction to purchase their first NFT. Her father was Peter G. Peterson, the private equity billionaire who founded Blackstone and served as a Museum of Modern Art trustee. And she was a trustee at the Studio Museum in Harlem and on several acquisition committees for organizations like the Whitney Museum of American Art, the Brooklyn Museum and Centre Pompidou.

But none of that pedigree could prepare her for the bizarre scene at Sotheby’s.

Ms. Peterson looked around and saw these new collectors who reminded her of little toddlers with paddles, she recalled in an interview. “What’s going on?” she said. “I’m a Park Avenue woman with a fancy art collection and I couldn’t even get a paddle.”

Buyers could pay in cryptocurrencies or regular dollars. A panel that preceded the sale included Kenny Schachter, a rabble-rousing collector and columnist at Artnet News, who, from his brownstone on the Upper East Side, had situated himself as a communicator between the crypto and traditional art worlds. (He had his own NFT project to promote.) A bulldog for the digital art movement, he managed to corner Max Hollein, the Met Museum director, one evening in Central Park, recalling that the museum executive said that his curators were too scared of the new technology to partake.

Speaking to the V.I.P. attendees at the Sotheby’s auction, Mr. Schachter waxed poetic about the promises of NFTs, saying they had “changed the history of art without even intending to be an art piece in the first place.”

An audience that included celebrity influencers like the rapper Ja Rule and Snoop Dogg’s son Cordell Broadus clapped. Behind the scenes, employees were scrambling to salvage what was supposed to be a historic sale.

According to three people close to the sale, there had been signs of trouble from the beginning of the auction house’s relationship with the seller, who operated from behind the username 0x650d. There was virtually no public information about him; his digital identity was created to promote his CryptoPunk collection, which he purchased in 2021 for around $7 million, saying that he acquired the NFTs “because I choose wealth.”

But he also said that he would never sell them, which should have been Sotheby’s’ first warning sign.

Sotheby’s had been the collector’s second choice to sell his CryptoPunks after he initially failed to secure a deal at Christie’s. And unlike the traditional collectors who attended the auction ready to buy the newfangled art, there was a lack of enthusiasm from crypto collectors. These NFTs were known as “floor punks,” meaning that they lacked certain attributes that gave other CryptoPunks their higher market prices. The algorithm that generated the entire collection of 10,000 images had statistical rarities baked into the code; for example, there were only nine punks dressed as aliens and 24 who looked like apes. (In March 2024, someone reportedly purchased an alien punk for $16 million.) But 0x650d’s collection contained only basic, run-of-the-mill examples of the NFTs originally created by Larva Labs, a studio run by the Canadian software developers Matt Hall and John Watkinson.

So there was little incentive for a serious NFT collector to buy this suite of tokens, especially at a time when purchasing a single CryptoPunk at floor price would have cost about $150,000. A simple calculation would have made clear that at $30 million, Michael Bouhanna, a digital art specialist at Sotheby’s, had overpromised on the total value of the lot by nearly double the high estimate of what a retail trader could find online, where a group of CryptoPunks this size would have gone for around $15 million. And then there was the matter of poor timing. Cryptocurrencies had just taken a nosedive with news that Russia had invaded Ukraine; risky assets looked less enticing with interest rates rising. There was still an appetite for speculation, but perhaps not as much when everyone’s wallets had suddenly depreciated in value. Risk needed some promise of reward.

The NFT boom coincided with the art market’s growing reputation as a Wild West where paintings by artists like Marc Chagall and René Magritte turned into vehicles for sanctions evasion, money laundering and fraud, disguised by shell companies.

In 2020, for example, Senate investigators found that auction houses and dealers had allowed two sanctioned Russian oligarchs, the brothers Arkady and Boris Rotenberg, to buy and sell art using shell companies fronted by an art adviser. Their report concluded that brokers went through with the sale despite a failure to determine the true identities of their clients.

Despite that congressional scrutiny, a new era of deregulation was approaching, happening just in time for NFTs to thoroughly scramble the relationship between artistic merit and financial value.

The auction at Sotheby’s took place just weeks after the federal government had shied away from enforcing the Bank Secrecy Act on the art industry, which would have increased the scrutiny of financial transactions and ended the use of shell companies to conceal the true identities of buyers and sellers.

When Congress commissioned a report in 2021 to address concerns that the art market had become a safe haven for a number of financial crimes, the responsibility fell upon the Treasury Department and its aptly named deputy assistant secretary for strategic policy: Scott Rembrandt (no relation to the old Dutch master of the same name), who was unfamiliar with the financial esoterica of the art world.

Dealers were prepared for the worst after regulators in the European Union and Britain banned straw purchases — the practice of buying something on behalf of a secret purchaser — and other schemes that cloaked the true parties behind a painting’s sale.

Anxiety rolled into the next year as the New York attorney general’s office accused Sotheby’s of an alleged tax fraud scheme in which more than a dozen clients obtained false resale certificates to pose as dealers and avoid paying millions in tax revenue on their purchases. A judge allowed the investigation to proceed, saying there was enough evidence that senior members of the auction house “willfully turned a blind eye” to the scheme.

Tight-lipped dealers were not afraid of making noise when their profits were threatened; galleries and auction houses spent nearly $1 million over the past two years on lobbying federal officials in Washington on regulatory issues.

When the Treasury Department released its highly anticipated report in February 2022, it did not recommend immediate government intervention, despite clear evidence of criminal activity.

“We have found that while certain aspects of the high-value art market are vulnerable to money laundering, it’s often the case that there are larger underlying issues at play, like the abuse of shell companies or the participation of complicit professionals” who might look the other way, Mr. Rembrandt said in an interview, implying that art crime was more a byproduct of a flawed financial system than a characteristic of the industry.

But the Treasury official had relied on bad statistics. Mr. Rembrandt said that only $3 billion in money laundering and other financial crimes flowed through the art market every year. That was an errant number, which could be traced back to an unattributed claim from a 1990 article in The Independent by the British journalist Geraldine Norman about the antiquities market. (The Treasury Department did not respond to a request for comment.)

The lack of original research in the Treasury report demonstrated the government’s failure to deeply scrutinize the art market.

NFTs were, in some ways, a result of that oversight. They were more easily abused as vehicles for fraud than other kinds of art by virtue of their digital existence. Sales happened within seconds and without nosy customs officials or know-your-customer practices to impede criminals.

And although Mr. Rembrandt was unwilling to bring federal oversight to the art market, he still specifically called out the rising danger of NFTs in his report, warning: “These types of contracts can create an incentive to shape a marketplace where the work is traded repeatedly in a short period,” and adding that “traditional industry participants, such as art auction houses or galleries, may not have the technical understanding of distributed ledger technology required to practice effective customer identification and verification in this space.”

What happened only a few weeks later at Sotheby’s would illustrate the problems that Mr. Rembrandt raised and highlight the Treasury’s failure to establish new oversight regulations on the art market that would have required the auctioneer to perform more due diligence on its clients.

Back in the salesroom, the audience eagerly looked toward an empty podium where the auctioneer should have started the bidding nearly a half-hour ago. Instead, officials announced that the consignor had withdrawn the lot; everyone was still welcome to enjoy the after-party and listen to the sick beats of D.J. Seedphrase. Stunned, the young crypto investors sipped their last drops of champagne and exited out the auction houses’s revolving doors onto York Avenue. It looked like 0x650d had sized up the money he stood to make at auction and decided that it was unlikely to add up to the number he was looking for.

“The whole evening was totally surreal,” said Ms. Peterson. “The auction definitely made me think that something was rotten.”

For market rainmakers like Amy Cappellazzo, a former Sotheby’s executive, the event was even more significant. “It was an early sign that the crypto market was in trouble.”

NFT collectors needed strong sales to continue their momentum. But catastrophes like the Sotheby’s auction broadcast that the NFT industry’s best days were behind it. Traditional collectors like Ms. Peterson, who might have joined the digital art collectathon, were now backing away while skeptics celebrated proof of the blockchain’s impotence.

“Collectors from the old economy are afraid that their marketplace will be disrupted by these crazy, wacky forces,” Ms. Cappellazzo said. “There is nothing more tried and true than owning a hard asset like a painting and putting it on the wall. But anything that softens a hard asset will make them feel uneasy.”

The anonymous consignor, 0x650d, tried to salvage his online reputation. He posted on Twitter at 7:41 p.m., nearly an hour after pulling the lot, to announce his decision to “hodl,” cryptospeak for holding on to digital assets. About an hour later, he shared a meme that featured the musician Drake, saying he was “taking punks mainstream by rugging Sotheby’s.”

By “rugging,” he meant rug-pulling, a scheme in which crypto developers intentionally attract investors to a project, only to disappear without handing over a product.

Of all the crypto scams that deflated the NFT market, rug pulling was the most notorious and frequent because it transformed good will into a liability; there were at least four such scams that totaled more than $11 million in lost investments involving projects that imitated the Bored Ape Yacht Club, a high-profile set of NFTs. .

But the failed Sotheby’s auction was an unusual moment in which the provocative behavior of the crypto world bled into the art market.

And there was very little strategic benefit to the consignor’s public mocking of the world’s largest auction house; his rug-pull could only be bad for crypto’s reputation.

In the short term, it was clear that 0x650d believed he’d made a smart move. After the auction fiasco, his accounts on social media went silent for nearly a month, until April 2022, when he announced that his CryptoPunks collection would be used as collateral for an $8.32 million loan, unlocking the liquidity of his NFTs while allowing him to “retain upside exposure” through the collectibles. That loan appeared to be 40 percent of the low estimate that Sotheby’s had given for the value of his collection, indicating that 0x650d was able to use the auction house’s appraisal to legitimize the value of his NFTs. It let him keep his punks, so that he could, theoretically, sell them for more than he would have made at Sotheby’s — and use them as a piggy bank for liquidity in the meantime. It looked as if he’d used the art world as a mark.

But two years later, thanks in large part to the art world’s distrust of NFTs, Crypto Punks are worth far less. 0x650d appears to still hold his lot, which is now worth about $12.3 million, a significant decrease from the $20 million that he turned his nose up at Sotheby’s.



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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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NFTs

Netdex: Revolutionizing Logistics and NFTs on the Layer 1 Blockchain

TokenTalk Staff

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Netdex: Revolutionizing Logistics and NFTs on the Layer 1 Blockchain

Introduction

Netdex is a revolutionary project based on Layer 1 blockchain technology, aiming to redefine the user experience with an innovative proof-of-stake protocol and unparalleled scalability. Our mission is to unlock the full potential of blockchain by providing cutting-edge solutions and fostering a vibrant community.

Main features

1. NFT Marketplace: Netdex will launch a next-generation NFT marketplace, offering creators and collectors a platform to tokenize and trade unique digital assets.

2. Community Building: We strive to build a robust and engaged community with meaningful impact across social media platforms, fostering collaboration and shared values ​​to drive positive change in the blockchain space.

Core values

– Logistics Solutions: By leveraging blockchain technology, Netdex addresses pain points in the logistics industry, streamlining operations and increasing efficiency across the globe.

– NFT Monetization: Our platform allows users to monetize their digital assets through NFTs, maximizing the potential of Ethereum and contributing to solving the Blockchain Trilemma.

– EXS Token: The native EXS token powers the Netdex ecosystem, facilitating transactions, governance and incentives for community participation.

Blockchain Challenges

The blockchain trilemma involves achieving optimal levels of decentralization, security, and scalability simultaneously. Netdex addresses this by implementing a robust layer-1 protocol, ensuring decentralization, advanced security measures, and efficient consensus mechanisms to increase scalability.

Tokenomics

The EXS token serves as the native cryptocurrency of the Netdex ecosystem. With a total supply of 1,000,000,000 EXS, the distribution is as follows:

– Initial token sale: 30% (300,000,000 EXS)

– Team and Advisors: 15% (150,000,000 EXS)

– Ecosystem Development: 20% (200,000,000 EXS)

– Marketing and Partnerships: 10% (100,000,000 EXS)

– Community incentives: 15% (150,000,000 EXS)

– Reserve: 10% (100,000,000 EXS)

EXS tokens are used for transaction fees, staking rewards, governance, liquidity incentives, and access to platform features.

  1. Netdex Solution

A Robust Blockchain Protocol:

Built on cutting-edge technology, Netdex’s layer-1 blockchain protocol incorporates advanced consensus mechanisms, smart contract functionality, and interoperability features for seamless integration.

Engaged communities

Marketing strategy:

The Netdex marketing team, with extensive experience in the cryptocurrency industry, focuses on engaging and growing the community through targeted campaigns, social media outreach and community events. Additionally, Netdex hosts AMAs every Friday and Saturday on Twitter to keep the community updated, garnering 7-10K views each time. Our social media presence is robust, with 31 thousand followers. We prioritize transparency with our community, just as Cardano and ADA have done for years, following the lead of other major crypto projects to ensure we bring the best benefits to our users.

Development team:

Composed of experts from reputable companies in the blockchain ecosystem, the team is committed to delivering innovative solutions and driving the success of the project.

Accessible Technology

Basic DApps and DeFi products: Netdex offers a variety of decentralized applications (DApps) and decentralized finance (DeFi) products, including an NFT sales platform and DeFi products powered by the EXS token.

NFT selling platform: Netdex’s NFT platform allows investors to contribute to the project while earning passive income through NFT sales, supporting emerging artists and creators.

Upcoming NFT sale Venus NFT Sale with 25% Discount, Limited NFT

We are pleased to announce that our NetDex 40% NFT sale sold out in just 15 minutes! Thank you to everyone who participated and made this event a great success.

NFT Market Insight

The global NFT market capitalization today is $69.86 billion, reflecting a change of +0.02% in the last 24 hours. The emergence of NFTs has brought a revolution in digital art and collectibles. These unique digital assets are recorded on a blockchain and provide proof of ownership for specific items, allowing creators and collectors to purchase and trade them.

In essence, Web3 will be a collection of products and services built on the traditional structure of the Internet. This will allow you to buy and sell tokens and digital services, retain full ownership, and trade them independently.

Former President Donald Trump began accepting cryptocurrency donations on Tuesday, his campaign announced, continuing Trump’s embrace of the digital currency after expressing skepticism toward the industry during his time as president.

  1. Venus NFT Sale Details:

– Limited slots: 50 NFTs

– Price: $1,500 (original price: $2,000)

– Date: June 29

– Time: 1pm UTC

– Where to buy: netdex.io

– Bonus: GET BONUS 2,000 EXS WHEN YOU BUY 1 NFT

Mark your calendars for the NFT Venus sale with a 25% discount. This limited time offer is not to be missed!

Conclusion

Netdex is poised to revolutionize the logistics industry and the world of NFTs on the Layer 1 blockchain. With innovative solutions, an engaged community, accessible technology and a resilient economy, Netdex is well positioned to create a safer, more efficient and more efficient blockchain ecosystem. inclusive.

Stay tuned for more updates and be prepared for another exciting NFT sale with NetDex! 🌟

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Can NFTs make a comeback? Not until traders feel rich again, says an analyst – DL News

TokenTalk Staff

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Can NFTs make a comeback?  Not until traders feel rich again, says an analyst – DL News
  • NFTs are stuck in a brutal bear market.
  • The launch of the Ethereum ETF could reignite interest, an analyst said.
  • Collectors are still buying some high-end NFTs.

In 2024, there is little love left for NFTs.

Popular collections like Yuga Lab’s Bored Ape Yacht Club now costs less than before the NFT craze began three years ago.

Even CryptoPunks, the leading NFT collection with a market value of around US$874 millionthey seem trapped in a brutal bear market.

The situation will not change until crypto traders feel rich again, said Nicolas Lallement, co-founder of NFT data platform NFT Price Floor. DL News.

He said capital “will likely pivot to bluechip NFTs” if the launch of spot Ethereum exchange traded funds triggers a demonstration later this year.

Bluechip is a stock market term for the most reliable and valuable companies on the market.

In crypto, traders use the word to describe tokens or NFTs that they consider to have established value.

In essence, Lallement is alluding to a repeat of the market conditions associated with the first NFT bull run.

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Demand for NFTs soared in late 2021 after Bitcoin rose around 1,140% in the previous year.

With large amounts of newly created capital circulating, many of those who made money piled into NFTs to show off their wealth.

“Ultimately, NFTs act as status symbols,” Lallement said.

Market dilution

There is no guarantee that money from a market-wide rally will flow specifically into NFTs, let alone those that were previously popular.

“We now have NFTs on Bitcoin, Solana and Ethereum L2s, so the market is not just focused on Ethereum like it used to be,” said Lallement.

It’s not just the latest NFTs that are diluting the market.

“These days, everyone is busy with memecoins and DeFi, especially now that celebrities are also participating in it,” said Mahan Fathi, CEO of NFT analytics site NFT Valuations. DL Newsadding that he doesn’t see much liquidity flowing into NFTs.

Many traders have previously used NFTs as vehicles for speculative trading.

The low liquidity of NFTs makes them extremely volatile, creating conditions for huge gains — or total losses.

Memecoins, little-used cryptocurrencies that trade solely based on their popularity, have supplanted NFTs as the asset of choice for traders seeking high-risk bets.

Memecoins based on presidential candidatescelebrities and even comic book artist Matt Furie Pepê the Frog character have taken over the market in recent months.

Pockets of activity

Despite the negative sentiment toward NFTs, there are sophisticated collectors who are still allocating, Fathi said.

In February, a full set of Autoglyphs NFTs were sold for US$14.5 million. Autoglyphs are among the first generative art NFTs created on the Ethereum network.

Then in April, a rare alien, CryptoPunk, was sold for US$12.5 million. Alien Punks are highly coveted because only nine out of 10,000 strong collections feature this feature.

Still, these sales are dwarfed by those of the previous NFT bull market. In February 2022, another alien CryptoPunk was sold for a record $24 million.

There is also the question of whether these sales have any influence on the broader demand for NFTs.

Lallement says yes.

“I expect a ripple effect from these high-end NFTs to more accessible ones at some point,” he said.

Tim Craig is DeFi correspondent for DL ​​News in Edinburgh. Contact him with tips at tim@dlnews.com.

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8 NFT Primitives You Should Know

TokenTalk Staff

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8 NFT Primitives You Should Know About

If DeFi has “legos of money”, then NFTs have “legos of culture”.

Another way to put it? NFT Primitives.

In cryptography, a primitive is a fundamental building block that can be used to create more complex systems or applications.

NFT primitives are important because they pave the way for new innovations and new use cases around NFTs, allowing developers to create more sophisticated and versatile experiences.

To give you a better idea of ​​the programmable possibilities here, let’s look at 8 examples of some of today’s most notable NFT primitives.

1. Zora Protocol Rewards

by Messari

When a creator selects the “Free + Rewards” pricing option when minting their NFTs on Zora, they become eligible for Protocol Rewards by splitting the Zora Mint fee of 0.000777 ETH.

Upon new mintings, these rewards are accumulated in an escrow contract and can be withdrawn by the creator at any time.

Developers or platforms that facilitate the creation of NFT collections or refer collectors to mint NFTs also receive rewards. This includes “referral creation” rewards for those who bring creators to the platform and “mint referral” rewards for those who bring collectors.

Hence, Zora Protocol Rewards introduces a fundamental reward mechanism that can be leveraged to create new applications, for example, alternative self-funded Zora front-ends. It can also be easily integrated into existing NFT projects and platforms.

2.ERC-6551

by Benny Giang

ERC-6551 introduced a fundamental change to the NFT space, allowing NFTs to function as their own smart contract accounts.

By allowing NFTs to own assets, interact with web3 applications, and act as onchain identities, ERC-6551 has significantly expanded the basic properties of ERC-721 tokens. The composable nature of ERC-6551 means it can be combined with other protocols and applications to create innovative NFT utilities.

For example, the original architecture of the AI-based simulation game Parallel Colony was inspired by ERC-6551, as the standard allowed the game’s AI agents to act as wallets and manage their own token assets.

3. Boosts

by Boost

Boost is a distributed incentives protocol. It allows for the deployment of incentives, i.e. tokens, to encourage targeted on-chain actions, and recently we have seen more and more incentives deployed to drive engagement for new NFT mints.

For example, you can set up a boost so that the first 100 minutes of your latest NFT drop will receive 2$OP each as a reward. How you configure the parameters is completely arbitrary and up to you.

That said, Boost’s open and composable design allows it to be easily integrated into other applications, allowing it to serve as a lever for anyone looking to take advantage of its features.

4.DN-404

by Standardizer

DN-404an optimized version of the ERC-404 experiment, helped popularize a new way of creating hybrid tokens that act as both fungible (ERC-20) and non-fungible (ERC-721) tokens.

Consequently, DN-404 can be used in a variety of applications, such as enabling fractional ownership of NFTs, increasing liquidity for NFT projects, and creating new trading mechanisms that leverage fungible and NFT properties.

5. Noun Protocol

by Nouns

One of the most popular NFT primitives is the Noun Protocol.

With this system, Nouns pioneered a complete model for continuous NFT generation, auctions and community governance. This foundation has inspired and been modified by many dozens of spin-off projects to date, leading to the phrase “substantive DAOs.”

The fully on-chain nature of the Nouns Protocol also means that developers can build new applications around Nouns as they please.

6. Net Delegates

by to delegate

Created by the team of Delegates, Net Delegates introduced a new mechanism that allows delegation rights to be bundled into tradable NFTs.

By allowing NFTs to delegate rights, Liquid Delegates have added the ability to trade those rights, claim airdrops, access token-gated communities, and more, all without transferring ownership of the underlying asset.

Projects can use this feature for a variety of purposes, but we’ve generally seen it integrated so that people can safely mint or claim tokens in their vault wallets.

7. Non-Fungible Vaults (NFVs)

by Open Dollar

Developed by Open Dollar, Non-Fungible Safes (NFVs) link collateralized debt positions (CDPs) to transferable NFTs instead of protocol accounts.

This primitive makes ownership of stablecoin loan positions liquid and transferable, improving capital efficiency and flexibility.

In other words? NFVs pave the way for the first secondary lending markets in DeFi and can be integrated into DeFi in new ways thanks to the existence of NFTs.

8. Net Listings

by Skinner

One of the latest NFT primitives is Flayer Net Listingswhich allows rarer non-floor NFTs to be deposited into collection pools in exchange for “Floor Tokens”.

These tokens, for example ƒMILADY, represent the minimum value of the NFT and can be sold to provide immediate liquidity, with the remaining listing value realized in the final sale of the NFT.

Notably, this primitive uses Harberger fees to ensure fair pricing, making it easier to sell NFTs off the floor and access liquidity quickly and smoothly.



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OKX Marketplace partners with Web3 game

TokenTalk Staff

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OKX Marketplace now supports zero-fee Metaplex

SINGAPORE, June 21, 2024 (GLOBE NEWSWIRE) — OKXa leading Web3 technology company, published updates for June 21, 2024

OKX Marketplace Partners with Web3 Game BLOCCLORDS to Launch Exclusive Offer of 300 ‘Legacy Cowherd’ NFTs

OKX Marketplace and medieval Web3 game BLOCKLORDS have teamed up to launch a exclusive draw of 300 Ethereum-based ‘Legacy Cowherd’ NFTs. The giveaway, which began on June 19th and will end on June 26th, offers participants an exclusive chance to receive a ‘Legacy Cowherd’ NFT.

To participate in this campaign, participants must hold a minimum of 0.005 ETH during the campaign period and complete simple tasks on social media, such as following BLOCLORDS on X. More details on how to participate in the campaign can be found here.

BLOCKS presents a player-driven medieval grand strategy game where players’ decisions and skills shape the world and narrative. The game offers various play styles such as farming, fighting, resource management and government, allowing players to create their own destinies. The ‘Legacy Cowherd’, BLOCKLORDS’ newest hero, symbolizes patience, resilience and heritage, guiding his cattle through storms to lush pastures.

For more information, visit the OKX Support Center.

For more information, please contact:
Media@okx.com

About OKX

A leading global technology company powering the future of Web3, OKX offers a comprehensive suite of products to meet the needs of beginners and experts alike, including:

  • OKX Wallet: The world’s most powerful, secure and versatile crypto wallet that gives users access to over 85 blockchains while allowing them to take custody of their own funds. The portfolio includes MPC technology which allows users to easily regain access to their wallet independently, eliminating the need for traditional, ‘written’ seed phrases. Additionally, OKX Wallet’s account abstraction feature Smart Account allows users to pay for transactions across multiple blockchains using USDC or USDT and interact with multiple contracts through a single transaction.
  • DES: A multi-chain and cross-chain decentralized exchange aggregator with 400+ other DEXs and approximately 20 bridges, with 200,000+ coins and 20+ blockchains supported.
  • NFT Market: A multi-chain, zero-fee NFT marketplace that gives users access to NFT listings on seven top-tier marketplaces, including OpenSea, MagicEden, LooksRare, and Blur.
  • Web3DeFi: A powerful DeFi platform that supports earning and staking on around 70 protocols across 10+ chains.

OKX partners with many of the world’s leading brands and athletes, including English Premier League champions Manchester City FC, McLaren Formula 1, Tribeca Festival and Olympian Scotty James.

OKX also regularly publishes articles, accessible via OKX Learn. These articles provide readers with in-depth analyzes of all cryptocurrenciesincluding factors that influence Bitcoin Prices It is Ethereum Prices.

To learn more about OKX, download our app or visit: okx.com

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