{"id":452331,"date":"2022-05-24T23:55:57","date_gmt":"2022-05-24T20:55:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/nft-auctions-from-beeple-madonna-flop-amid-crypto-crash\/"},"modified":"2022-05-24T23:55:57","modified_gmt":"2022-05-24T20:55:57","slug":"nft-auctions-from-beeple-madonna-flop-amid-crypto-crash","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/nft-auctions-from-beeple-madonna-flop-amid-crypto-crash\/","title":{"rendered":"#NFT auctions from Beeple, Madonna flop amid crypto crash"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3293631f498\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3293631f498\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/nft-auctions-from-beeple-madonna-flop-amid-crypto-crash\/#%E2%80%9CNFT_auctions_from_Beeple_Madonna_flop_amid_crypto_crash%E2%80%9D\" >&#8220;NFT auctions from Beeple, Madonna flop amid crypto crash&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CNFT_auctions_from_Beeple_Madonna_flop_amid_crypto_crash%E2%80%9D\"><\/span>&#8220;NFT auctions from Beeple, Madonna flop amid crypto crash&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>The once-sizzling market for NFTs has become a spectacular bust, as high-profile auctions increasingly flop and investors who plunked down millions for bizarre digital artworks now struggle to unload them at a tiny fraction of what they paid.<\/p>\n<p>Last spring, the little-known crypto artist Beeple sold an NFT for an eye-popping $69 million. This month, he revealed he\u2019d been working with Madonna for a year to create a trio of racy NFTs that depicted the \u201cMaterial Girl\u201d giving birth to a tree, a centipede, and butterflies.<\/p>\n<p>They sold for $135,000, $346,000 and $146,000, respectively.<\/p>\n<p>\u201cIt was unexpectedly low,\u201d Nick Rose, founder and CEO of NFT platform Ethernity Chain, told The Post.<\/p>\n<p>The flop wasn\u2019t unusual, however, amid the carnage that lately has engulfed so-called NFTs, or nonfungible tokens, which are unique digital assets on the blockchain that are often used for art. Last March, Bridge Oracle CEO Sina Estavi bought an NFT of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> co-founder Jack Dorsey\u2019s first tweet for $2.9 million, calling it the \u201cMona Lisa of the digital world.\u201d Last month, he scr<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed an auction to resell it after the highest bid came in below $14,000. <\/p>\n<p>\u201cThis has been fueled by ridiculously inflated cryptocurrency prices and hysterical bidding,\u201d Jeff Bell, CEO of LegalShield, a legal protection firm for consumers, told The Post. \u201cThis is no different than the Gold Rush or the dot-com bubble where people get ahead of themselves \u2014 everyone wants to get rich quick.\u201d <\/p>\n<div class=\"inline-slideshow\" data-component=\"inlineSlideshow\">\n<div class=\"inline-slideshow__wrapper\">\n<div class=\"inline-slideshow__slides\">\n<div class=\"inline-slideshow__slide\">\n<figure class=\"inline-slideshow__slide-figure\">\n                        <img decoding=\"async\" width=\"878\" height=\"585\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-09-1.jpg?quality=75&amp;strip=all&amp;w=878\" class=\"inline-slideshow__image\" alt=\"beeple\" loading=\"lazy\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-09-1.jpg?quality=75&amp;strip=all&amp;w=1756 1756w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-09-1.jpg?quality=75&amp;strip=all&amp;w=1317 1317w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-09-1.jpg?quality=75&amp;strip=all&amp;w=878 878w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-09-1.jpg?quality=75&amp;strip=all&amp;w=439 439w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-09-1.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 878px) 100vw, 878px\"\/><figcaption class=\"meta meta--caption\">\n                                    Madonna and Beeple&#8217;s NFT collection all went for under $500,000.                                <\/figcaption><span class=\"inline-slideshow__credit meta meta--byline\">motherofcreation.xyz<\/span><br \/>\n                                                    <\/figure>\n<\/p><\/div>\n<div class=\"inline-slideshow__slide\">\n<figure class=\"inline-slideshow__slide-figure\">\n                        <img decoding=\"async\" width=\"878\" height=\"585\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-04-2.jpg?quality=75&amp;strip=all&amp;w=878\" class=\"inline-slideshow__image\" alt=\"madonna and beeple\" loading=\"lazy\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-04-2.jpg?quality=75&amp;strip=all&amp;w=1756 1756w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-04-2.jpg?quality=75&amp;strip=all&amp;w=1317 1317w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-04-2.jpg?quality=75&amp;strip=all&amp;w=878 878w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-04-2.jpg?quality=75&amp;strip=all&amp;w=439 439w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-04-2.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 878px) 100vw, 878px\"\/><figcaption class=\"meta meta--caption\">\n                                    The money raised from the NFTs will be donated to charity.                              <\/figcaption><span class=\"inline-slideshow__credit meta meta--byline\">motherofcreation.xyz<\/span><br \/>\n                                                    <\/figure>\n<\/p><\/div>\n<div class=\"inline-slideshow__slide\">\n<figure class=\"inline-slideshow__slide-figure\">\n                        <img decoding=\"async\" width=\"878\" height=\"585\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-11-2.jpg?quality=75&amp;strip=all&amp;w=878\" class=\"inline-slideshow__image\" alt=\"Madonna\" loading=\"lazy\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-11-2.jpg?quality=75&amp;strip=all&amp;w=1756 1756w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-11-2.jpg?quality=75&amp;strip=all&amp;w=1317 1317w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-11-2.jpg?quality=75&amp;strip=all&amp;w=878 878w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-11-2.jpg?quality=75&amp;strip=all&amp;w=439 439w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-11-2.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 878px) 100vw, 878px\"\/><figcaption class=\"meta meta--caption\">\n                                    The sale of Madonna&#8217;s NFTs were quite low.                              <\/figcaption><span class=\"inline-slideshow__credit meta meta--byline\">motherofcreation.xyz<\/span><br \/>\n                                                    <\/figure>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p>NFTs are getting hammered partly because cryptocurrencies \u2014 the payment method of choice for NFT sellers \u2014 are tanking along with tech stocks as the Fed hikes rates amid raging inflation. Bitcoin is off 58% from its all-time high of $69,000 in November. Ethereum \u2014 the most widely used cryptocurrency on NFT platforms \u2014 is also off 60 percent. <\/p>\n<p>Figures for NFTs look even worse. According to NonFungible, the number of sales are hovering around 24,000 a day this week \u2014 off from a September peak of 225,000 per day. Cash spent on NFTs has also plummeted, with sales last week totaling $205 million \u2014 nearly 90% lower than their August high of nearly $1.9 billion, according to the research firm.<\/p>\n<p>\u201cNFTs blew up when stimulus checks were coming in but they grew too fast,\u201d Rose said. \u201cWe\u2019re going through a cool-down with the stock market, inflation, COVID, and Ukraine.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"595\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/nft-charts.jpg?w=1024\" alt=\"nft activity \" class=\"wp-image-22393644\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/nft-charts.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/nft-charts.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/nft-charts.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The number of active NFT buyers and users has trailed off after spiking dramatically.<\/figcaption><figcaption><span class=\"credit\">Chainalysis<\/span><\/figcaption><\/figure>\n<p>Still more troubling, according to some insiders: Bored Ape Yacht Club \u2014 whose cartoon likenesses of strung-out-yet snappily-dressed primates have generated an estimated $2 billion since their launch a year ago \u2014 has recently seen prices for its NFTs tank. This week, its cheapest available on the OpenSea NFT marketplace was listed at about $183,135 \u2014 down sharply from an all-time high of $429,000 that was set at the start of the month.<\/p>\n<p>The drop ensued after Elon Musk changed his Twitter profile to a collage of Bored Apes he had cribbed from a Google search \u2014 taunting a recent craze in which celebrities like Justin Bieber, Paris Hilton, Jimmy Fallon and Steve Aoki have blown hundreds of thousands of dollars to claim a unique, authentic Bored Ape for themselves. <\/p>\n<p>\u201cSeems kinda fungible,\u201d Musk tweeted.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"969\" height=\"1024\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/musk-sotheby-bored-ape-twitter-2-2.jpg?w=969\" alt=\"Elon Musk\" class=\"wp-image-22393511\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/musk-sotheby-bored-ape-twitter-2-2.jpg?quality=75&amp;strip=all&amp;w=1938 1938w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/musk-sotheby-bored-ape-twitter-2-2.jpg?quality=75&amp;strip=all&amp;w=1453 1453w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/musk-sotheby-bored-ape-twitter-2-2.jpg?quality=75&amp;strip=all&amp;w=969 969w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/musk-sotheby-bored-ape-twitter-2-2.jpg?quality=75&amp;strip=all&amp;w=484 484w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/musk-sotheby-bored-ape-twitter-2-2.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 969px) 100vw, 969px\"\/><figcaption>Elon Musk briefly changed his profile picture to a compilation of various \u201cBored Apes.\u201d<\/figcaption><figcaption><span class=\"credit\">Elon Musk\/Twitter<\/span><\/figcaption><\/figure>\n<p>Still, Bored Ape Yacht Club\u2019s creator Yuga Labs claimed a recent launch of property in the metaverse did \u201cunexpectedly\u201d well. And earlier this year, Snoop Dogg released a collection of NFTs that went for $44 million in five days. Experts say that\u2019s because figures like Snoop and Bored Ape have been building relationships in the niche.<\/p>\n<p>\u201cKey players like Snoop Dogg have done a lot of community building,\u201d Rose said. \u201cNobody is spending millions on single items\u2026 the mania has faded,\u201d but building a loyal following in the NFT space will sustain some creators, according to Rose.<\/p>\n<p>Meanwhile, signs of broad weakness are growing. CryptoPunk #273 \u2014 from an NFT collective called CryptoPunk that has built a cult following in the space by any standard \u2014 sold for $1 million six months ago. Earlier this month, it went for $140,000. In February, Reese Witherspoon\u2019s media firm Hello Sunshine partnered with NFT collective World of Women. The minimum buy-in for an NFT has since tumbled to $10,000 from $34,000. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/snoop_dogg3.jpg?w=1024\" alt=\"snoop dogg\" class=\"wp-image-22293864\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/snoop_dogg3.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/snoop_dogg3.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/snoop_dogg3.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Snoop Dogg launched a collection of NFTs that fetched $44 million in five days.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/cryptopunk-nft.jpg?w=1024\" alt=\"cryptopunk\" class=\"wp-image-22393021\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/cryptopunk-nft.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/cryptopunk-nft.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/cryptopunk-nft.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>CryptoPunk #273 sold for $1 million six months ago. Earlier this month, it went for $140,000.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Worries about fakes and outright theft haven\u2019t helped. The Winklevoss twins \u2014 who own and operate Gemini Cryptocurrency Exchange and bought NFT platform Nifty Gateway \u2014 have lost some of their digital art cache after being sued by one user who claims he was snookered in an auction and tricked into buying a $650,000\u00a0NFT he didn\u2019t want.<\/p>\n<p>\u201cA lot of collectors I know don\u2019t exchange there anymore,\u201d Rose said. \u201cI don\u2019t.\u201d<\/p>\n<p>A spokesperson for the Winklevoss twins didn\u2019t respond to a request for comment.<\/p>\n<p>One report suggests 50% of all NFT owners have <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/blockworks.co\/report-50-of-nft-holders-have-lost-access-to-their-nfts\/\">lost access<\/a> to their NFTs. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/support.discord.com\/hc\/en-us\/community\/posts\/4412702056727-No-Nitro-until-NFT-Crypto-is-permanently-tossed-out\">One user on Discord<\/a>, a popular messaging app in the crypto and NFT world,  recently posted that he was leaving out of frustration it was a hotbed for NFT chatter. \u201cNFTs are a scam in many cases,\u201d the user said, adding that a growing number of investors are \u201cbeing completely screwed by NFTs.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/winklevoss-twins-1.jpg?w=1024\" alt=\"Winklevoss twins\" class=\"wp-image-22393047\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/winklevoss-twins-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/winklevoss-twins-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/winklevoss-twins-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Winklevoss twins own and operate NFT platform Nifty Gateway.<\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>The number of active NFT buyers and sellers in the second quarter has plateaued around 500,000 \u2014 that\u2019s down from a high of nearly one million in the first quarter and around 700,000 in the fourth quarter of 2021.<\/p>\n<p>Ian Rosen, partner at The Tifin Group and former CEO of StockTwits, likened the NFT craze to the obsession with cabbage patch dolls or beanie babies. <\/p>\n<p>\u201cPeople think, \u2018Hey, I made a picture and put it on OpenSea!&#8217;\u201d Rosen said. \u201cBut just because it exists in the digital world doesn\u2019t make it valuable.\u201d <\/p>\n<p>Still, those in the NFT space remain optimistic. <\/p>\n<p>\u201cWith nearly $8 billion traded in the first quarter of 2022, the market cannot really be considered to have collapsed. We are seeing more of a form of stabilization,\u201d NonFungible notes in a<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/nonfungible.com\/reports\/2022\/en\/q1-quarterly-nft-market-report\"> recent report<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/jack_dorsey.jpg?w=1024\" alt=\"jack dorsey\" class=\"wp-image-22293839\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/jack_dorsey.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/jack_dorsey.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/jack_dorsey.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Jack Dorsey sold an NFT of his first tweet for $2.9 million. A year later, the buyer couldn\u2019t get $14,000 for it.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Critics, however, point out it can be difficult to determine what companies are choosing to measure and whether it\u2019s accurate. For instance, so-called wash trading \u2014 when sellers buy their own NFTs using two different accounts \u2014 can make platforms look like they have more activity than they really do. <\/p>\n<p>\u201cYou\u2019re not allowed to sell a fake Rembrandt, but we don\u2019t see that kind of control here so people are getting burned,\u201d Bell says. \u201cThere\u2019s issues of blatant fraud where people drive up the price of NFTs by buying their own.\u201d <\/p>\n<p>That points to a broader issue with NFTs: The burgeoning sector is still new and largely unregulated. Until it\u2019s a more regulated space, its up to users to guard their pocketbooks. <\/p>\n<p>\u201cMom and dad aren\u2019t going to protect you,\u201d Rosen cautions. \u201cIf you don\u2019t know who the sucker at the poker table is, it\u2019s you.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/05\/24\/nft-auctions-from-beeple-madonna-flop-amid-crypto-crash\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;NFT auctions from Beeple, Madonna flop amid crypto crash&#8221; The once-sizzling market for NFTs has become a spectacular bust, as high-profile auctions increasingly flop and investors who plunked down millions for bizarre digital artworks now struggle to unload them at a tiny fraction of what they paid. Last spring, the little-known crypto artist Beeple sold&#8230;<\/p>\n","protected":false},"author":1,"featured_media":452332,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/05\/madonna-nft-04a.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,95118,74866,129578,76127,39394,73952,69934,65515,74947],"class_list":["post-452331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-nft","tag-winklevoss-twins","tag-5-24-22","tag-cryptocurrency","tag-elon-musk","tag-jack-dorsey","tag-madonna","tag-paris-hilton","tag-snoop-dogg"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/452331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=452331"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/452331\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/452332"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=452331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=452331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=452331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}