😱How an NFT holder lost $650k worth of NFTs and $APE
GM degens 💃 TGIF💅
Our lunch menu for today
😱 How an NFT holder lost $650k worth of NFTs and $APE
🍎 Apple to launch their Metaverse product in 2023
👩❤️👨 First Metaverse wedding
🧶Twitter thread worth reading
🗞️ Other news in the space
😱How an NFT holder lost $650k worth of NFTs and $APE
For those who have been in a space for a while, you are already familiar with the issue of scammers where they hack into other people’s wallets almost on daily basis, stealing millions. Same thing happened to Domenic Iacovone who had roughly $650k worth of NFTs and $APE in his digital wallet app MetaMask.
He explained it how it happened with a tweet.
So how did they hack his wallet?
He claims that hackers used his 12-word seed phrase to get access to his wallet. MetaMask stores a seed phrase file on iCloud automatically if it is turned on. He lost 3 MAYC, 3 Gutter Cat Gang and $100k worth of $APE.
Sure enough, MetaMask did not admit any wrong-doing on their end but they did follow-up with a tweet on how to protect yourself from a situation like this.
Here is their thread posted:
This is a good reminder for everyone who is reading this newsletter, make sure you turn off this feature for backup, especially for MetaMask to avoid situations like this. As per me, I don’t even bother doing that. My wallet is full of losses, if someone gets access to it, I am pretty sure they will give it back to me and send me 1ETH to cover 0.1% of my losses.
Apple to launch their Metaverse product in 2023
According to a research note released from a Goldman Sachs analyst, the “main race” for VR is between Apple and Meta (Facebook). According to bank expectations, Meta Platforms will be launching their Quest Pro product this fall, while Apple will launch their own early in 2023.
Although the expectation in the future is to rely both in VR (Virtual Reality) as well as AR (Augmented Reality), most of the implementation of anything related to Metaverse will be heavily relying on VR as usable products already exist for it while for AR we are still on the early phases of development.
On that note, Citi bank has predicted that Metaverse Economy will be as large as $13 trillion by 2030. Trying to involve yourself in the right projects with Metaverse plans would be definitely the right move. As we get more insights about the space, we will be slowly sharing some of our suggestions regarding the projects which might be successful. Stay tuned!
First Metaverse wedding
A couple from Arizona decided to host their wedding ceremony in Decentraland metaverse. There were witnesses, Supreme Court Justice officiant as well as a crowd of 2,000 guests.
They even hired Rose Law Group to legally formalize their marriage. Ceremony was held in the digital land of Rose Law Group in Decentraland.
Here are some of the photos from the ceremony.
Although there were lot of technical issues where bride was having issues with her digital avatar, this still qualifies as the first wedding ceremony to be held in metaverse. We will see them more often in the near future most likely.
🧶 Twitter thread worth reading
🗞️ Other news in the space
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