Nifty News: Pixel Penguin is alleged to have made a “charity rug.” Additionally, Epic adds new NFT games.

By Clark

The second 3AC NFT auction is scheduled to take place this month at Sotheby’s, and Epic Games plans to list NFT games on its store.

The ‘charity project rug’ according to the Pixel Penguin

This week, the non fungible-token (NFT) project Pixel Penguin generated controversy over what blockchain investigator ZachXBT claimed to be a “charity project rug.”

The project discreetly debuted in February, but gained significant notice on May 31 as a result of a thread Andrew Wang, a Web3 influencer, started on Twitter.

Pixel Penguins were allegedly created by Wang’s friend Sarah, also known online as Hopeexist1, who had “made a collection to help herself battle cancer.”

Wang advertised the product for $13 mint, claiming that 20% of the proceeds would benefit charity and the remaining 80% would go towards Hopeexist1’s purported cancer therapy.

Wang stated, “I’ll put my rep on the line to say this is for real amidst all the scams in our space,” and continued, “I speak with her art teacher often when she’s gone for treatment and he says she’s the best student he’s ever had, that her talent is too precious, that she must survive.”

Following this, the Pixel Penguins NFTs were quickly sold out, and the floor price increased from 0.0099 ETH to approximately 0.0126 ETH, or about $130.However, after conducting further investigation, members of the NFT community claimed that the author may have been lying about having cancer and had previously made money through the sale of stolen works of art.

After discovering the Pixel Penguin smart contract, which held more than $117,000 in ETH, ZachXBT tracked the money as it was transferred to two new wallet addresses.

Hopeexist1 then deactivated their Twitter account and vanished as a result. Since then, the NFTs’ floor price has fallen to 0.004 ETH, or $7.

More blockchain games will be added to Epic Games Store.

Along with the five already live and playable blockchain games, Epic Games will shortly add two more to its shop.

One of the future games is Defimons, a turn-based multiplayer RPG with Pokemon influences that is free to play.

The title of the game will be used for both the in-game cash and the NFT combat monster characters. A release date is not provided on the Epic Games Store.

The other blockchain game is named Project Red, and it also has a first-person shooting game mode in addition to what appear to be open-world components influenced by games like Grand Theft Auto and Saints Row.

The early gameplay reveals that in order to progress through the more difficult stages and interact with the game’s play-to-earn features, players will need to purchase Mobster NFTs.

While many traditional gamers still have serious reservations about Web3 games, Epic Games didn’t shy away from this market when it originally listed Blankos Block Party as the first one on its shop back in September 2022.

In March, Epic Games told Axios that it intended to launch about 20 additional blockchain games between the end of 2023 and the beginning of 2024.

Part two of the Three Arrows NFT garage sale

The second round of the $2.5 million NFT auction of the now-defunct crypto hedge fund Three Arrows Capital (3AC) is scheduled to happen this month.

The Grails, a collection of NFTs from 3AC, include a broad range of tokens from renowned projects like CrytoPunks, Tyler Hobbs’ Fidenzas, and Dmitri Cherniak’s Ringers.

37 of 3AC’s NFTs will be put up for auction by Sotheby’s in the second round, which is scheduled for June 15, in what it calls the “largest ever live auction of digital art.”

Getting into the Metaverse is Kellogg’s

According to reports, Kellogg’s has submitted a lengthy list of trademark applications for several of its food brands pertaining to the Metaverse, NFTs, collectibles, and cryptocurrency tokens.

Froot Loops, Frosted Flakes, Special K, and Pop-Tarts are a few of the brands.

Mike Kondoudis, a trademark attorney licensed by the United States Patent and Trademark Office, claims that the company has expressed interest in launching anything from NFT avatars to crypto collectibles, virtual environments, and VR gaming centered around cryptocurrency.

Various Nifty News

Over the past year, the value of some of the most prized NFTs collections of 2022 has fallen precipitously. Investments in renowned projects like Doodles, Invisible Friends, Moonbirds, and Goblintown have all lost up to 95% of their value in ETH.


Magic, a Web3 wallet-as-a-service provider, declared on May 31 that a strategic investment round, led by PayPal Ventures, has successfully generated $52 million for the company. Venture capital firms Cherubic, Synchrony, KX, Northzone, and Volt Capital also participated in the investment round, increasing Magic’s total funds raised to over $80 million.


Head of the technology.

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