A mint fee that got lost in the… ether? We save our puns for Friday. A new NFT project had a contract bug that is resulting in tens of millions of dollars potentially locked for eternity.
The Nightly Mint
Latest Mint: AkuDreams & A Stuck Contract
Over 11,000 ETH was seemingly permanently locked in new NFT collection, AkuDreams, after a programming error left the contract stuck – unable to be retrieved both by individuals and by the dev team. We’ll spare the technical details, but the development around a ‘processRefunds()’ function, paired with a griefer who took advantage of the sloppy code, resulted in the contract being permanently stuck.
$34 million, or 11,539 eth, is permanently locked into the AkuDreams contract forever. It cannot be retrieved by individual users or by the dev team.
The refund processing, which is complete, sets each bid status to 1. pic.twitter.com/6GnQPnddC6
— foobar (@0xfoobar) April 23, 2022
However, the griefer’s motives were unintentional, according to a tweet thread from the AkuDreams team; nonetheless, it seems that the contract code is still resulting in 11K+ ETH locked.
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Over 11,000 ETH are seemingly locked as part of a faulty contract error in new NFT project, AkuDreams. | Source: ETH-USD on TradingView.com
RTFKT’s New Release… Underwhelms?
RTFKT has been building hype over it’s upcoming Monolith (MNLTH) release, and the official reveal finally dropped today with new NFTs of digital sneakers. RTFKT first made headlines last year after being acquired by Nike. So it shouldn’t be too shocking to see Nike’s first real attempt at digital sneakers coming to life – after all, the company has previously shown efforts to pursue legal battles against StockX to protect digital IP usage of the Nike swoosh. Nonetheless, NFT collectors had a pretty high bar of expectations set around MNLTH.
While public feedback seemed to show some essence of disappointment, the MNLTH floor is still above 10 ETH at time of writing.
The ‘Minty Fresh’ Take
Who could’ve fathomed?
literally NO ONE could have seen that NIKE’S new NFT reveal was a DIGITAL SHOE it’s WILDLY out of left field here and I am DEVASTATED I simply cannot believe NIKE is in the business of DIGITAL SHOES IN SHOE BOXES (MNLTH)
— Jacob Martin (@thenftattorney) April 22, 2022
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Featured image from Pexels, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.