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NFTs had a solid beginning to December. Weekly sales volume reached $187 million in the first week, surpassing November\u2019s weekly peak of $181 million. This growth indicates consistent momentum in the NFT market, showcasing increased activity and interest.<\/span><\/p>\n With weekly sales reaching $92 million, <\/span>Ethereum<\/span><\/a> continued to be the most popular blockchain for NFTs. Compared to the prior week, this represented a 44% increase. Both sales volume and floor prices for well-known collections, such as <\/span>CryptoPunks<\/span><\/a> and <\/span>Pudgy Penguins<\/span><\/a>, increased significantly, indicating high demand and rekindled interest among investors and collectors.<\/span><\/p>\n Source: CoinGecko<\/p>\n<\/div>\n The $135,000 lost by an 85-year-old artist who fell victim to an NFT scam is one concerning example. The con artist tricked the artist into minting their work on a phony NFT marketplace that looked like OpenSea by posing as an art dealer. Afterward, the victim was pressured to pay a hefty sum to access their supposed earnings.<\/span><\/p>\n The Brooklyn District Attorney\u2019s Virtual Currency Unit responded by taking down 40 fake NFT marketplace sites linked to the scam. This prompt response demonstrates how crucial law enforcement is becoming to combating crimes in the NFT area. Additionally, it reminds people to be cautious and check platforms before making purchases.<\/span><\/p>\nGrowing NFT Scams: A Warning Story<\/b><\/h2>\n
Magic Eden\u2019s Token Stumbles on Debut<\/b><\/h2>\n