The Peak of NFT Mania

At the time, BAYC NFTs were among the most sought-after digital assets in the NFT space, frequently selling for six figures. Celebrities, influencers, and crypto investors rushed into the trend, with BC.GAME, the popular igaming platform, invested 700 ETH in NFTs.

This influx of investors boosted valuations and drove demand, with artists making millions from NFT sales. Vidu’s decision, while extreme, was reflective of the market’s sentiment and the cultural status the BAYC brand held at its peak.

From 150 ETH to Under 25 ETH

Crypto Beast (@cryptobeastreal), a popular crypto enthusiast on X, shared the details of Vidu’s transaction, revealing that his massive investment had not paid off. From a high point that once touched over 150 ETH in value, BAYC NFTs have plummeted to below 25 ETH as of now.

This marks a decline of approximately 98% for those who bought near the top of the hype cycle and serves as a stark example of the risks associated with NFTs and speculative crypto investments.

3 years ago, someone sold his kidney to purchase a picture of a monkey.

He’s down 98%. pic.twitter.com/vXmpI9DQAr

— Crypto Beast (@cryptobeastreal) June 18, 2025

We are on X, follow us to connect with us :- @TimesTabloid1

— TimesTabloid (@TimesTabloid1) June 15, 2025

A Harsh Market Reality

While many saw the early stages of BAYC as an opportunity for investment or cultural relevance, the extreme volatility of the market eventually forced a reevaluation. Unlike traditional assets, NFTs lack intrinsic value and are heavily dependent on community perception and speculative momentum.

As interest in NFTs cooled and broader crypto markets experienced downturns, even high-profile collections like BAYC saw sharp declines. Notable figures such as Vitalik Buterin, Ethereum’s creator, criticized NFTs at the time, calling them another form of gambling.

Cautionary Lessons From a Bygone Era

This situation is not just about one person or a single NFT. Some individuals, especially during bull runs, were willing to go to extraordinary lengths in pursuit of digital ownership and perceived prestige. However, with markets correcting, the reality for many has been losses that are far more than money.

Now, experts are pushing for assets with utility, such as XRP, which are reshaping the financial landscape and offer real-world value. The XRP Ledger (XRPL) is also advancing the NFT ecosystem, adding features that could make them more than just speculative assets. The era of NFTs as status symbols may be near its end, but assets with real value will take the crypto market to new heights.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Blur, although relatively new compared to popular NFT platforms like SuperRare and OpenSea, has gained traction in terms of trading volumes, thanks in part to its gamified incentives that reward users with tokens based on their trading activity.

One key aspect is the airdrop offered to users who bid on NFTs by trait. Hanwe Chang has seemingly mastered this practice, as evident from Blur’s leaderboards.

Read Also: Construction Giant XCMG Chooses Conflux for NFTs and Future Global Blockchain Applications

This has led to an increased interest in bidding on Blur, with traders even developing bots to automatically copy other traders’ bids. Chang noticed this trend and devised a scheme to trick the bots into bidding on NFTs at significantly inflated prices.

Chang took to Twitter to report the transactions, revealing that he observed someone’s bot copying his bids on Blur. He said he decided to exploit this by bidding on his own NFTs at prices ten times higher than their normal value.

According to Chang, the bots automatically mimicked these bids, and once they were placed, Chang accepted them all. As a result, he made a profit of 800 ETH, equivalent to approximately $1.5 million, from 12 Azuki NFTs within minutes.

Noticed that someone's bot was copying my bids on Blur, so I decided to trick him…

Made 800 ETH profit thanksss pic.twitter.com/KlaXKUFUBK

— Hanwe (@HanweChang) August 5, 2023

According to Etherscan, a considerable portion of the profits from the trades was subsequently transferred to a wallet labeled as “hanwe.eth” on the Ethereum Name Service.

Crypto Twitter Reacts to the Controversy

The transaction’s nature has sparked a range of reactions on crypto Twitter. One NFT influencer, known as Dave III, criticized Chang’s statement, cautioning against promoting “fraud” and referring to the trick as “illegal market activity.” He highlighted how the problematic aspect was Chang placing bids he had no intention of accepting, solely to trigger other bids.

On the other hand, another NFT influencer, A Raving Ape, referred to the transaction as an “epic case of PvP” in the NFT marketplace, drawing an analogy to player-versus-player confrontations in video games. It seems that everyone involved found the situation intriguing.

The victim of the scheme and owner of the bot, with the handle “elizab.eth,” showed up on Twitter, stating that the funds were stolen from their bot. The account expressed willingness to discuss the possibility of a bounty and offered Chang to keep 10% of the funds if the rest could be returned.

We would like to discuss a bounty with you. We are offering a 10% bounty of any funds stolen from our bot, which are yours to keep if you return the remaining 90%.

— elizab.ethᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠᅠ (@ThinkingETH) August 5, 2023

Read Also: Blur Airdrop and Coinbase Free NFT Mint Send Ethereum Gas Fee To Yearly High

Opinions on the legality and morality of Chang’s actions diverged among commentators. While some argued that elizab.eth was simply outwitted and saw no illegality, others, like Delphi Labs General Counsel Gabriel Shapiro, exhibited more empathy.

However, Shapiro acknowledged that the bot’s owner likely had legal claims to retrieve their ETH, noting that the question of legality was “a bit more nuanced.”

Chang has remained silent in response to the discussions, as he has not posted anything further on his Twitter account since sharing details of the trades. The debate around the legality and ethics of his actions rages on.

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The NFT marketplace which was founded in 2018, aims to bring the carbon-neutral XRP Ledger to the wider non-fungible token community. Hence, allowing NFT enthusiasts to enjoy the uncommon benefits associated with transacting non-fungible tokens on XRPL. 

According to Mintable, it would support and incentivize NFT creators who choose to innovate on the XRP Ledger as well as traders who collect NFTs on the blockchain. 

Mintable now supports #XRPLedger!

We're excited to introduce one of the most secure, sustainable, and efficient blockchains to the NFT ecosystem pic.twitter.com/6aFEOWNSKc

— Mintable (@mintable_app) November 16, 2022

Read Also: Brad Garlinghouse: Ripple Will Continue to Lead in Terms of Trust and Transparency

You Can Now Mint and Trade XRPL-Based NFTs on Mintable

Mintable, ranked 112 on the list of top NFT marketplaces by DappRadar, announced on Thursday that the platform has launched support for non-fungible tokens (NFTs) on the XRP Ledger (XRPL). By implication, NFT enthusiasts can now buy, sell, and mint NFTs on the XRP Ledger securely and with very low charges required. 

Mintable, which automatically aggregates all NFTs on Ethereum and Immutable X, also disclosed that its support for the XRP Ledger stems from the fact that XRPL is a fast and energy-efficient blockchain for the tokenization of assets. Additionally, the update added that the XRP Ledger is almost free to use, battle-tested, and scalable with robust security. 

In relation, Mintable said it will collaborate with Ripple, “to bring creators and developers together to enable the creation of high-quality NFT projects and provide a no-code solution for independent creators on the XRPL.” More so, Mintable added that it will allow recipients from Ripple’s Creator Fund to bring their NFTs to market on the XRP Ledger.

Aside from serving as an NFT marketplace, Mintable also has a service labeled Mintology that provides NFT solutions for enterprises. 

XRP Ledger in the NFT World

Patrick Chin, the Chief Marketing Officer of Mintable reacted to the partnership with Ripple by saying; 

“The XRPL is a valuable addition to the NFT ecosystem. It is a battle-tested and highly secure blockchain that will help overcome NFT adoption barriers related to security and environmental concerns. Ripple works with some of the biggest companies in the world and will be bringing a suite of valuable partnerships to the NFT ecosystem. We are excited to join their ranks as Ripple’s NFT partner, to help with their NFT initiative, and to introduce one of the most secure, sustainable, and efficient blockchains to the NFT ecosystem.”

Likewise, Emi Yoshikawa, Vice President of Strategy and Operations at Ripple noted that Ripple is excited to partner with Mintable to onboard new creators and projects to the XRPL. “For over 10 years, the XRP Ledger has been a trusted blockchain of choice for developers due to its security, speed, and scalability of tokenizing assets,” Emi Yoshikawa added.  

Related: Ripple Enables New Standard (XLS-20) that Introduces Native NFTs on XRP Ledger

The blooming non-fungible token technology first landed on the Ethereum blockchain. Over time, NFTs extended to many other blockchains including Cardano, Solana, and recently the carbon-neutral XRP Ledger among others. Considering the unique features of the XRPL, it is said to be a valuable addition to the NFT ecosystem.

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Tiffany & Co

One of the most reputable jewelry companies on the market Tiffany & Co will release a limited edition collection of 250 pendants in the form of “crypto punk” – the eponymous NFT project. The jewelry house announced the upcoming release, titled NFTiff, on its official website.

The cost of one piece of jewelry will be 30 ETH or about $50,000 in equivalent currency at the time of the news. Moreover, only owners of NFT from CryptoPunk collection will be able to buy the pendant. It’s known that the main material of the jewelry is 18-karat gold. Over 80 details will be available to the buyer to design with individual preferences. There will be a total of at least 30 diamonds in the pendant.

Gucci

Gucci intends to accept ApeCoin as payment, associated with the Bored Ape Yacht Club NFT collection. Payment with ApeCoin will be available in select U.S. stores. In the future, representatives of the company intend to expand this practice in other regions. Like Tiffany & Co, Gucci said that the development of technologies of non-exchangeable tokens is an important step in the direction of the Internet of the future Web 3.0.

Mercedes

Earlier this year, Mercedes teamed up with Art2People to release the Mercedes-Benz NFT, and even in a meta-universe. So if you can’t afford a normal Mercedes-Benz NFT, you can buy its digital version.

Lamborghini 

Italian automaker Lamborghini, known for its expensive sports cars, announced a sale of its latest Aventador LP780-4 Ultimae this spring. Along with the legendary supercar, an NFT token was available to the buyer. In a sense, it turned out to be quite expensive tokens, because only one of the copies of the Aventador in a rare color was asked for 500 thousand dollars. A total of 600 cars were offered for sale.

Coca-Cola

Coca-Cola used NFTs to gamify a charity event. People were offered to buy tokens and, in return, get access to a virtual chest. Virtual merchandise prepared by the company fell out of it at random. The money raised from token sales was then donated to the Special Olympics World Wide Fund.

McDonald’s

The fast-food restaurant chain McDonald’s has been issuing its own NFT-tokens on various occasions for a long time. For example, the branch from France in April 2021 raffled off 20 animated images of food among subscribers on social networks. Well, the Chinese branch prepared for the 31st anniversary of the opening of the first restaurant McDonald’s in the country, with a large collection of tokens from 188 images.

VISA

The Visa payment system hasn’t stood aside either and has been interested in NFT technologies for a long time. Last year, they purchased CryptoPunk number 7610 for 49.5 ETH, which was about $150,000 at the time of the deal. For a CryptoPunk collection, though, this is clearly not a value record. For example, another CryptoPunk #7523 sold for $11.754 million.

Already this year Visa has launched an educational program in the field of NFT. It’s designed primarily for people in creative professions, such as artists, musicians, modeling professionals, and so on. In general, anyone who might be interested in creating content with non-interchangeable tokens.

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The post Which Brands Invest in NFTs and Why They Do It appeared first on Times Tabloid.

Over the past 24 hours, new meme coins with names like Queen Elizabeth Inu, Queen, Save the Queen, London Bridge is Down, QueenDoge, and Rip Queen Elizabeth have been introduced on decentralized exchanges on Ethereum and the Binance Smart Chain (BSC).

The Queen Elizabeth Inu token on the BSC-based Pancake Swap has now had the most price value increase over the last 24 hours, with an eye-watering 28,506% pump to $0.00008000 at the time of writing, according to data from Dex Screener.

Queen Elizabeth Inu chart: Dex Screener

However, the Elizabeth token, which has witnessed $2.7 million worth of trade volume in less than 12 hours, dwarfs it with a $391,000 24-hour trade volume. The asset has likewise had a parabolic 8,442% pump, sitting at $0.059931.

It’s important to note that Queen Elizabeth Inu and Elizabeth only have $17,000 and $204,000 in liquidity, respectively. This shows that they lack significant backing and raises the possibility of a quick pump and dump, roughly similar to the legendary Squid Games token that crashed and burned in October last year.

The R.I.P. Queen Elizabeth Project on OpenSea 

Within hours after the queen’s demise, the RIP Queen Elizabeth project appeared on the NFT marketplace OpenSea.

The very last gen1 QueenE (#73) is auctioning at https://t.co/0JCiZ6dCd4

Mint is closed after that.

Gen2 follows later.#NFT #Queen #NFTCommunity pic.twitter.com/xhIqYh80nB

— QueenE DAO (@QueenEDAO) September 8, 2022

Each of the 520 NFTs in the collection artistically depicts the queen with ominous connotations. The project has only earned 0.06 Ether (ETH) worth of trade volume, equivalent to about $101. This suggests that collectors have not yet gotten behind the project.

Since there are so many NFTs in the collection, it appears that the project’s creator was waiting for the perfect time to launch it.

Meme Coin Creation Angers the Cryptocurrency Community

However, not everyone is happy about the queen being featured on an NFT.

The projects received a negative response from the cryptocurrency community, which is known for its morbid sense of humor.

They really turned the queen into an NFT pic.twitter.com/A4T7769Ibg

— NFT Bros Taking Ls (@FungersTakingLs) September 8, 2022

Of course, the 135,000-strong crypto-hating group r/Buttcoin has commented on the situation, with user woliphirl making fun that the U.K. will soon adopt the Queen Elizabeth II Commemorative token as their official currency.

This was in reaction to a screenshot of a comment in a post in the r/cryptocurrency community about how humiliating this is for the whole crypto industry.

Having ruled England for 70 years and 214 days, Queen Elizabeth II was the longest-serving monarch in history. She passed away at the age of 96. She enjoyed widespread popularity from the populace of England and occasionally maintained royal approval ratings of close to 90%.

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In a new report, DappRadar reveals that Solana is recording outstanding performance in the NFT space despite the overwhelming downturn in the crypto market.

Although there is a decline in the trading volume of other blockchains, including Ethereum (ETH), Solana (SOL) trading volume has been increasing, says DappRadar.

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The report also says that Solana (SOL) also outperformed other blockchains in terms of sales count.

DappRadar’s report reads in part:

“Solana and Avalanche emerged as the clear winners with an increase in trading volume (despite the crypto pullback) of 21% and 15%.

Incumbent blockchains such as Ethereum, Binance Smart Chain (BSC), and Polygon (MATIC) suffered heavy losses of 41%, 22%, and 59%. While absolute, the low point was reached for Flow and Ronin, which saw a pullback of 71% and 84%…

Read Also: Everything You Should Know About the Solana-Powered Web3 Smartphone, Saga

“Despite the depreciation of many tokens, the trading activity persisted on many blockchains. Solana, again as the clear winner, almost doubled its sales count by 98%, while Ethereum and BSC stayed pretty much on par with 2% and -4%, respectively. The same could not be said for the rest of the blockchains, which suffered losses of up to 75%…

“Although Ethereum has historically been the primary blockchain for NFTs, Solana has been growing as a viable alternative for new NFT projects due to relatively low gas fees and low barriers to entry.

“Magic Eden, the leading marketplace for Solana-based NFTs, has seen a record influx of traders due to the launch of many successful Solana-based collections like Okay Bears. The Solana marketplace DApp boasts 0% listing fees and only 2% trading fees. This quarter, Magic Eden accounted for 10% of all NFTs transactions.”

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Gates said this when representing Breakthrough Energy, the venture capital firm he established to invest in renewable energy sources, at a climate conference presided by TechCrunch.

Read Also: NFTs worth Millions of Dollars Swiped On OpenSea by a Hacker. Investigation Ongoing

Bill Gates also noted:

“I’m used to asset classes … like a farm where they have output, or like a company where they make products. I’m not involved in that. I’m not long or short any of those things.”

Mocking the Bored Ape Yacht Club NFTs, which generated millions of dollars in funding and endorsed by various celebrities, the multi-billionaire questioned how expensive digital photographs of monkeys would bring improvement to the world.

TechCrunch tweeted, “Bill Gates tells us what he really thinks of Bored Apes at #TCClimate.”

Bill Gates tells us what he really thinks of Bored Apes at #TCClimate: pic.twitter.com/vBc8BaaTup

— TechCrunch (@TechCrunch) June 14, 2022

According to Bill Gates, digital banking, which he has been promoting through his charitable organizations, is more efficient than cryptocurrencies.

Bill Gates Has Been a Stern Crypto Critic

Bill Gates has been vocal about his status of not being a fan of Bitcoin (BTC) and crypto as a whole.

Back in May 2022, during an AMA session on Reddit, he spoke about the reason why he does not own any cryptocurrency.

Read Also: Binance Reacts to Reuters’ Allegation of Laundering $2.5 Billion in Five Years

On this point, he said:

“I like investing in things that have valuable output. The value of companies is based on how they make great products. The value of crypto is just what some other person decides someone else will pay for it so not adding to society like other investments.”

Also, he had once stated that only those with the kind of Elon Musk’s wealth should get themselves involved in crypto investment.

He said, “If you have less money than Elon, you should probably watch out,” adding that “Elon has tons of money, and he’s very sophisticated, so I don’t worry that his Bitcoin will randomly go up or down…

“I do think people get brought into these manias who may not have as much money to spare, so I’m not bullish on Bitcoin.”

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Since his story first made it to the headlines in June 2021 after his physical artworks and NFTs sales made him the sum of $2.16 million at Christie’s auction house in New York, he has been able to garner even more attention and generated millions of dollars in NFT sales.

Read Also: NFTs worth Millions of Dollars Swiped On OpenSea by a Hacker. Investigation Ongoing

The collection, which explored his childhood and gender transition is titled “Hello, i’m Victor (FEWOCiOUS) and This Is My Life.”

According to Fortune, in April 2022, Langlois, who is also known as FEWOCiOUS, sold nearly $20 million of his digital artwork within 24 hours. According to the report, the whopping sale was the third-largest sale in the history of the NFT marketplace Nifty Gateway.

Speaking with Fortune at the time, Langlois said, “It’s been hard for me to process, to be honest. The dream isn’t to relax and do nothing, the dream is to draw.”

Read Also: Someone Falls for BAYC Animation Phishing Website, Loses 3 BAYC NFTs Worth $900,000 in ETH

“Hello, i’m Victor (FEWOCiOUS) and This Is My Life” represented the life of the 19-year-old transgender from ages 14 to 18 when he was taken out of an abusive home to live with his grandparents in Las Vegas.

Speaking about his experience with his grandparents in an interview with Esquire in June 2021, he said, “I thought I would be safe, but they were just as mean.” He added that he was afraid to come out as transgender to his religious family members.

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As recently shared on Twitter, ChilledKong8885 with Android Body has just been sold on a Cardano-based NFT marketplace, jpg.store. According to the report, the buyer spent a total of 135,000 ADA worth $128,524 to acquire the NFT.

Read Also: Snoop Dogg and Son Launch Over 19,000 Land Pitches on Cardano in Partnership with Clay Nation: Details

“ChilledKong8885 with Android Body (0.08%) was sold on jpg.store for 135,000 ADA ($128,524.16).”

ChilledKong8885 with Android Body (0.08%) was sold on https://t.co/L35OIFJv6U for 135,000 ADA ($128,524.16) pic.twitter.com/Ta6yWY2OGe

— ChilledKongs Sales (@ChilledKongBot) April 19, 2022

Charles Hoskinson Reacts to the Whopping Sale

Reacting to the whopping amount paid to purchase ChilledKong8885, Charles Hoskinson, the creator of Cardano, shared a GIF to describe his mood after seeing the update. The news also attracted reactions from the crypto community.

https://t.co/NbC3R6BBZb pic.twitter.com/UvIhVD3QP9

— Charles Hoskinson (@IOHK_Charles) April 19, 2022

The new development shows that Cardano is growing steadily to match other blockchains that are already thriving in the NFT sector.

What Is A Non-Fungible Token (NFT)

A non-fungible token (NFT) is a digital asset that represents real-world objects like art, music, in-game items, and videos. They are purchased and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many digital currencies.

Although they’ve been around since 2014, NFTs are just becoming a popular way to buy and sell digital artwork, bringing lots of celebrities across the world into the crypto industry. They are also generally one of a kind with their unique identifying codes.

Read Also: Charles Hoskinson and Snoop Dogg to Discuss Cardano Ecosystem at Cardano360

NFTs are different from cryptocurrencies because each has a digital signature that makes it impossible for them to be exchanged for or equal to one another, which is why they are referred to as non-fungible.

They also get exclusive ownership rights. NFTs can have only one owner at a time, and their use of blockchain technology makes it easy to verify ownership and transfer tokens between owners. The creator can also store specific information in an NFT’s metadata. For instance, artists can sign their artwork by including their signature in the file.

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In March 2021, Sina Estavi, a crypto entrepreneur bought the NFT for $2.9 million worth of ETH via the leading NFT marketplace OpenSea.

Read Also: Twitter To Allow Users to Add Bitcoin and Ethereum Addresses to their Profiles to Receive Tips

Last week’s Thursday, Estavi took to Twitter to announce that he has decided to sell the rare NFT. According to the crypto investor, relatively 50% of its proceeds, which he thought would be $25 million, will be donated to charity.

Sina Estavi tweeted, “I decided to sell this NFT ( the world’s first ever tweet ) and donate 50% of the proceeds ( $25 million or more ) to the charity.”

I decided to sell this NFT ( the world's first ever tweet ) and donate 50% of the proceeds ( $25 million or more ) to the charity @GiveDirectly
‌‌‌‌‌‌
https://t.co/cnv5rtAEBQ pic.twitter.com/yiaZjJt1p0

— Estavi (@sinaEstavi) April 6, 2022

Relatively Low Bid So Far

The auction closed about two days ago on OpenSea, with just seven offers. And the highest bidder is offering just 0.09 ETH worth $275 at current prices, while the lowest bidder offers 0.0019 ETH worth about $6.

Read Also: Bitcoin (BTC) To Be Accepted By Walmart and McDonald’s Through Lightning Network

It’s worth noting that the investor has to accept the bid, if not, it will expire in a few hours.

In a conversation with CoinDesk on Wednesday, Estavi said, “The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it.”

It can be recalled that Estavi’s crypto ventures Bridge Oracle and CryptoLand collapsed after he was arrested in Iran last year. Currently, he’s in the process of re-launching the Bridge Oracle tokens (BRG) on the BNB Chain, which were initially on the Tron blockchain.

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