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Nifty Drops and Crypto Wallet Hacks

Hey Friends,

As I begin writing this week’s post, I’m noticing on the screen Nifty Gateway’s notification for Andrea Bonaceto’s drop in collaboration with Italy’s Corriere della Sera





On the coattails of other prominent publications such as the NYTimes, Time, Vanity Fair etc. Corriere was shrewd enough to pick a darling of the crypto art-scene. Andrea decided to re-create the 1969 moon landing-focused front page of the Corriere, injecting his artwork and poetry into the fold. The work is a programmable piece that will morph as humans go back to the moon and only then reach its final state. Pretty cool uh? The drop is being framed as a ranked auction as there are 10 editions of this work. Last time I checked, the highest bid is at $12,666 and the lowest at $7,339, with some notable bidders such as Murat Pak and @skygolpe Notice I lsted the bids in US$ not ETH and that’s because Nifty Gateway lists its drops in US$ giving users the option of paying by credit card





This piece in my opinion is a solid investment/collection given the historical connotation, the pedigree of the artist attached to the project and the quality of the bidders. Obviously this is just my opinion and certainly not investment advise.


Switching gear to security, there’s been an unusual amount of chatter from the community with several prominent and expert collectors sharing the news of their hack. We’re talking big numbers here. Entire highly valuable NFT collections completely swiped by scam artists. Most hacks have happened on the Metamask platform which like it or not is the most popular gateway/wallet to NFT land. Metamask is a browser extension that sits on your browser’s top bar and provides access to your wallets so that you can engage with the various marketplaces. I never get tired of encouraging people to upgrade to a cold wallet aka Hard wallet. i use the Ledger Nano X which I love. It just provides that added layer of security and of course, piece of mind. High level precautions in my opinion are the following:

  1. When on Discord, always be skeptical of DMs no matter how legitimate the sender is as most times scammers come across as tech support. It’s the most popular place where hacks take place or start from.

  2. Always triple check the website you interact with as you’ll be surprised the amazing quality of these impersonating sites. Many websites in the crypto space have extensions such as .io or .xyz rather than the typical .com

  3. Always double check what you’re agreeing to in a transaction. Most times we just click approve without really reading what we’re approving, with that in mind, we could be on a fake website and agreeing to transfer alla ssets to the offending party.

  4. Never, ever give your seed phrases to anyone asking. Marketplaces or any othe rreputable source will never ask for seed phrases. They only stay with you. What I do is, write them down on a piece of paper, place them in an envelope and place them in a safe deposit box. That way I can’t even be tempted to give them away as I don’t have close access to them.

This is the unfortunate by-product of the decentralized and free nature of crypto.


NFT NYC the industry standard event is officially sold out two months ahead. Scheduled for Nov. 1-4 in Times Square’s Edison Ballroom, this year’s edition will feature over 500+ speakers. The demand has been so strong that the organizers have had to add a fourth day to the event. The award roster looks pretty rich touching on pretty much every category. This is one of my favorite events and one of the best opportunities to really immerse oneself in the community and the crypto world.

Random Stuff:

  1. Twitter is launching Bitcoin tipping functionality through Lightning network, while also rolling out NFT verification

  2. SuperRare to launch mobile app


Alla Prossima,


Michele

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