Controversy – BuyCrypto.Link https://buycrypto.link Easy Crypto Buying Sun, 17 Mar 2024 01:44:10 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 Ethereum NFT Auction Sparks Controversy with Solana Community https://buycrypto.link/ethereum-nft-auction-sparks-controversy-with-solana-community/ Sun, 17 Mar 2024 01:44:10 +0000 https://buycrypto.link/ethereum-nft-auction-sparks-controversy-with-solana-community/

Ruholamin Haqshanas
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| 2 min read

Dogwifhat
A dispute has emerged within the colorful world of meme coins, pitting the Solana community against the owners of the real-life Shiba Inu that inspired the explosive Dogwifhat (WIF) meme coin. 

The controversy revolves around the auction of an Ethereum NFT featuring the iconic photo of Achi, the dog who became the face of the popular Dogwifhat meme.

The saga began when a South Korean Instagram user, claiming to be the owner of Achi, announced their intention to auction an NFT of the original photo that sparked the viral meme. 

The user, who had consistently posted pictures of Achi wearing various woven outfits over the past five years, revealed their plans to celebrate the dog’s fame. 

The NFT auction, hosted on the Ethereum NFT platform Foundation, is set to conclude on Monday, with the current bid standing at a staggering 50 ETH, equivalent to over $182,000.

Community Hits Against Decision to Partner with Feisty DAO


However, the choice to partner with Feisty DAO, an online community experienced in acquiring and fractionalizing Shiba Inu-related NFTs on the Ethereum blockchain, sparked a wave of discontent among members of the WIF community and other Solana users. 

Many expressed their disappointment that Achi’s parents didn’t collaborate with the WIF team on Solana for the NFT drop.

The backlash escalated to the point where Achi’s owners felt compelled to publicly address the criticisms. 

“Please don’t insult [Achi] and us,” the owners wrote in a pinned comment on the Instagram post. “You have no reason to blame us. Please cheer for us.” 

Interestingly, Achi’s owner had previously attempted to work with Solana users, but the experience turned sour. 

Following the success of WIF, another meme coin called ACHI emerged with the support and endorsement of Achi’s parents. 

However, the creators of ACHI allegedly abandoned the project shortly after its launch, leaving a bitter taste in the mouths of Achi’s parents. 

Consequently, they decided to collaborate with Feisty DAO, a proven entity in the NFT space, to ensure a smoother and more secure auction process.

Solana Community Made Little Effort to Contact WIF Owners


While some members of the WIF community expressed frustration over the lack of coordination between Achi’s parents and the meme coin community, it appears that little effort was made by the community to establish contact with the family behind the dog that propelled their token to a multi-billion dollar valuation. 

Despite the astronomical success of WIF, Achi’s parents claimed to have never heard from anyone in the WIF community until recently when they attempted to reach out.

Mihir, a member of the WIF community involved in the fundraising campaign to display Achi’s face on the LED screen-covered Sphere arena in Las Vegas, admitted that he was unaware of Achi’s owners until last week. 

However, he acknowledged that they deserved recognition and some share of the spoils generated by WIF, which currently boasts a market capitalization exceeding $3 billion. 

Path, the Feisty DAO member overseeing the NFT auction, expressed openness to the idea of re-minting the NFT on Solana if there was interest from the Solana community. 

He even reached out to Ansem, a prominent member of the WIF community, to gauge their interest in purchasing the Achi NFT, but received no positive response. 

 



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#Ethereum #NFT #Auction #Sparks #Controversy #Solana #Community

]]> Terra (LUNA) Tumbles Amidst Wonderland Controversy https://buycrypto.link/terra-luna-tumbles-amidst-wonderland-controversy/ Sat, 29 Jan 2022 06:30:18 +0000 https://buycrypto.link/terra-luna-tumbles-amidst-wonderland-controversy/

Terra (LUNA) is a brilliant contract platform based mostly on a Proof-of-Stake algorithm. Thought-about to be the twond largest sensible contract platform behind Ethereum (ETH), Terra permits customers to commerce Terra stablecoins with ease. The community makes use of native foreign money LUNA to satisfy community charges, participate in voting, along with stabilizing the value of Terra’s stablecoins.

Terra seems to be to face out from the crypto neighborhood with its use of fiat-pegged stablecoins. With the usage of an algorithm, Terra adjusts the availability of stablecoins based mostly on demand. That is finished so by incentivizing the Terra community to alternate LUNA and stablecoins at favorable alternate charges to regulate the availability of stablecoins.

Terra’s Rise to the Crypto High 10

In December of final 12 months, Terra reportedly surpassed Binance Sensible Chain to turn into the twond largest DeFi blockchain. By means of the ultimate quarter, Terra additionally overtook Solana (SOL), Avalanche (AVAX), and Tron (TRX) on its rise to the quantity 2 spot.

By market cap, Terra sits at #9 on CoinMarketCap, with a market cap of $20.86bn on the time of writing.

In 2021, LUNA surged by a whopping 13,000% to maneuver into the highest 10 by market cap. Rallying from a 2021 opening $0.65, LUNA struck a 27th December ATH $103.36 earlier than ending the 12 months at $85.48.

Alongside the broader crypto market, it’s been a bearish begin to the 12 months, nevertheless. For the present month to Friday’s shut, LUNA was down 41% to $50.45. Whereas the broader crypto market has struggled in January, influences past crypto market forces have contributed to the pullback.

Wonderland Controversy Sends LUNA into the Deep Pink

This week, information hit the wires of Canadian alternate QuadrigaCX co-founder Michael Patryn being a member of a decentralized mission known as Wonderland. QuadrigaCX collapsed after a rip-off inflicting a lack of circa $133m for traders. Considerably, Patryn has additionally spent 18-months in U.S jail and was deported to Canada after pleading responsible to offences that included credit score and financial institution card fraud and laptop fraud amongst different crimes.

Because of the information, Wonderland token TIME collapsed to and presently sits at $400 ranges. TIME had struck an ATH $9,948 again in early November 2021.

The linkage and collapse of TIME has had a knock-on impact on LUNA, with the Wonderland mission tied to platform Abracadabra. Wonderland mission co-founder Daniele Sestagalli can be founding father of Abracadabra. Terra stablecoin UST might be staked to lend Magic Web Cash (MIM), which is a soft-pegged US Greenback stablecoin that’s minted by lending platform Abracadabra.

In keeping with studies, Sestagalli was conscious of Patryn’s previous.

LUNA Worth Motion

On the time of writing, LUNA was up 2.95% to $51.94, with help coming from the broader crypto market.

Close to-term, a transfer again via to $80 ranges would convey the present month’s excessive $92.67 into play. A break via to $90 ranges would give LUNA a run at December’s ATH $103.36.

Avoiding a fall via January’s present month low $47.57, nevertheless, might be key to keep away from a return to sub-$40. LUNA final sat at sub-$40 in late November.

2022 worth predictions are bullish for LUNA, with predictions of as excessive as $200 doing the rounds.

#Terra #LUNA #Tumbles #Wonderland #Controversy

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