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Non-fungible tokens are unique digital assets in which people can invest. These are a good source of passive income but investors and users need to be aware of the latest news related to NFTs to know the latest releases, drops, new upcomings, and trends in the market. Some of the major NFT news of this week which are turning heads have been discussed below.
Croatian Hog Farming is Set to Change with NFTs Involvement
Three Croatian companies, a wine specialist in Agroporc, and 2 blockchain entities Beyondi, and Block Be, came together to launch GoAgro. This is a digital platform that aims to transfer the farming sector in the country.
GoAgro has turned to NFTs to help fund its future farming initiatives. It has gained interest by launching a collection of wine-themed NFTs that will yield 3% return on investment (ROI) as well as guarantee the result of 100 KG of pork after 900 days.
The company has planned to release 240k “My Digital Pig”, the first 19,999 have arrived for $225. It allows the user to invest in the future of food production. The money raised within the program will be used in raising Croatian farming in a bid to reduce the country’s reliance on imported goods.
Twitter Account of Vitalik Buterin Compromised
The Twitter account of Ethereum creator Vitalik Buterin was hacked. The hacker managed to steal approximately $691,000 in assets which also includes the first claimed CryptoPunks NFTs.
The breach took place when a malicious link was posted on the Twitter account of Buterin. Those who clicked on the link have become the victims. The incident came to light when Vitalik’s father Dimitri publicly acknowledged the hack.
This news has again raised the concern about the security measures on X (formerly Twitter).
NounsDAO NFT Holders Opt for Rage Quit
NounsDAO is facing internal problems as a considerable portion of the NFT holders are going to “Rage Quit”. This move permits the holder to quit and claim a shared treasury by passing the open market where NFTs are facing a decline.
The situation has raised questions about the stability and future of the NFT project with similar governance structures. If holders of the 20% of all Nouns NFTs call for a fork then they can separate from the main group. This highlights the need for strong governance mechanisms that can handle market volatility. They also learn to handle the interests of individual holders
Summary
The NFT market is growing rapidly. Before investing in any category of NFT proper knowledge is essential. This can be achieved by following the social media accounts of the NFT creators or other buyers apart from market news updates.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
