😱 Gas Prices Slam Buyers in Cool Pets NFT Drop as Transaction Fees Soar 7,000%
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DROP Demand for NFT avatars is showing no signs of slowing down. Collectors seeking to mint Cool Pets, the latest drop from the Cool Cats development team Cooltopia, paid extreme fees to secure a token from the project’s public drop yesterday.
GAS WAR In its documentation, Cooltopia said it had “put measures in place to deter a gas war on any Cool Cats-related public mints.” Despite their best efforts, the gas price of high-priority transactions spiked by more than 7,000% as minting went live.
MINT PRICE While the mint price for Cool Pets was set at 0.5 ETH, some users paid more than double that in transaction fees. Etherscan data shows that one user paid more than 1.2 Ether in gas on top of the mint price to purchase a single Cool Pet — worth $5,500 worth of ETH at the time.
When it comes to the metaverse, one thing is clear: Big tech players are aggressively trying to grab market share. It isn’t just Facebook’s corporate rebrand to Meta. There’s also moves by Epic, Roblox, Microsoft, and other players jockeying for supremacy in this emerging realm.
The big question many are asking is whether the metaverse in the hands of Big Tech will lead to a dystopian, surveillance-based digital future.
There is hope for an alternative — a digital universe that enables genuine connections between people and empowers us to address urgent issues. Sadly, the key ingredient we need is sorely missing from Big Tech’s repertoire: privacy.
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With the punditry obsessing over the March FOMC meeting, where odds earlier today hit 100% of a 50bps rate hike before easing modestly (and more than 6 hikes for all of 2022)...
🔗 Silicon Valley is no longer the edgy tech frontier as workers flee Google and Amazon for crypto and Web3 startups, recruiters say: Business Insider
Just a couple of years ago, landing a job at Uber or Twitter was like striking gold. And while that still may be the case for plenty of aspiring tech workers, another space is encroaching on Silicon Valley's position as the hottest place to be: Web3.
A common and frustrating pattern crypto investors (in both private and public markets) deal with is a lack of creativity and an abundance of copycats.
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Cancel Culture Comes to Crypto as Offensive Tweets Trigger Flurry of Ousters For years, crypto has floated along in its own bubble, replete with risque anime characters, profane observations, and lots of provocative opinions about politics and society.
The Time is Now: Web3 Must Make Good on its Promise of Inclusivity A recent report by ArtTactic revealed something startling about web3: for an industry that casts itself as an egalitarian panacea we still have a long way to go.
Bitfinex’s LEO Token Explodes After US Seizes $4B of Bitcoin Lost in 2016 Hack A token most people in crypto haven’t thought about since it launched in 2019 just rocketed up in value and the moves actually make sense once you dig in.
🧑💻 ✍️ Stories in The Defiant are written by Brady Dale, Owen Fernau, Samuel Haig, DeFiDad, and yyctrader, and edited by Edward Robinson, yyctrader, and Camila Russo. Videos are produced by Robin Schmidt, Alp Gasimov and Daniel Flynn. Podcast is led by Camila, edited by Alp.
The Defiant is a daily newsletter focusing on decentralized finance, a new financial system that’s being built on top of open blockchains. The space is evolving at breakneck speed and revolutionizing tech and money. Sign up to learn more and keep up on the latest, most interesting developments. Subscribers get full access, while free signups get only part of the content. Click here to pay with DAI (for $100/yr) or sub with fiat by clicking on the button above ($15/mo, $150/yr)