this post was submitted on 17 Dec 2023
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The way I read the article, the "worth millions" is the sum of the ransom demand.

The funny part is that the exploit is in the "smart" contract, ya know the thing that the blockchain keeps secure by forbidding any updates or patches.

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[–] triptrapper@lemmy.world 28 points 1 year ago (2 children)

Is there any way to confirm this? Or are there examples of artists who made a significant amount of money from NFTs? I understand its potential benefit for artists, but I mostly remember already-rich corporations (e.g. UFC) using them as another way to extract money from consumers.

[–] glimse@lemmy.world 14 points 1 year ago (2 children)
[–] modifier@lemmy.ca 1 points 1 year ago

He was the first big one I remember. When it still had an air of legitimacy.

[–] FlyingSquid@lemmy.world 1 points 1 year ago

And, sadly, that has led to his posting a lot less content. But I can't say I blame him.

[–] IWantToFuckSpez@kbin.social 2 points 1 year ago* (last edited 1 year ago)

There are curated NFT auction sites where only selected artists are allowed to sell their work. And you can see for how much they sell their pieces. During the hype many sold items for thousands to tens of thousands or more. Also there is Beeple who rode the hype early from the start and he became a millionaire.