In this week’s newsletter, read about footballer Cristiano Ronaldo facing a lawsuit after promoting nonfungible tokens (NFTs) tied to crypto exchange Binance, and find out how an NFT collector thwarted a hacking attempt by a person impersonating a journalist. In other news, Azuki DAO is rebranding to Bean, game developer Square Enix announces an NFT collection, and one user claimed tokens worth $11 million in the recent Blur airdrop.
Cristiano Ronaldo sued for promoting Binance, unregistered securities
Football superstar Cristiano Ronaldo faces a class-action lawsuit for allegedly participating in the sale of unregistered securities in partnership with crypto exchange Binance. The famous football player entered a multiyear partnership with the exchange to promote NFT collections tied to Binance’s NFT-focused arm.
The legal complaint argued that Ronaldo encouraged his millions of followers to invest using Binance and contributed to its growth. The plaintiffs also allege that Ronaldo’s NFT sales successfully promoted the exchange, leading to a 500% increase in searches after the first sale.
Asked to get a banana, a BAYC owner narrowly avoids a fake Forbes scam
Pseudonymous NFT trader “Crumz” avoided a scam that could have stolen NFTs from his stash. According to the trader, a person impersonating a Forbes journalist asked for an interview about the Bored Ape Yacht Club (BAYC) collection.
During the interview, the scammer asked Crumz to click a button to allow them to record the interview and tried to distract him by asking him to say something resembling his BAYC NFT. The scammers took control of his screen, but Crumz thwarted the hacking attempt before he lost anything.
Azuki DAO rebrands to “Bean” as it drops lawsuit against founder
Azuki DAO, an unofficial decentralized autonomous organization (DAO) made for the NFT collection of the same name, announced it is rebranding to “Bean.” The DAO is also dropping its proposed lawsuit against Zagabond, the founder of Azuki.
According to Azuki developers, the DAO will become a memecoin project and join the ecosystem of Blast, an Ethereum layer-2 platform. The developers also claimed that Bean has already secured a $10 million investment for its development and acceleration.
Square Enix announces auction dates for Symbiogenesis NFTs
Square Enix, the developer of popular game franchises like Final Fantasy and Kingdom Hearts, has started the…