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Hi there,
I had to perform a rescue operation this week.
You see, I own more than a dozen virtual basketball players as NFTs, and they were at risk of being kidnapped.
As a precaution, I moved them from my software wallets to my more secure hardware one, which was recommended by people at the time. I then counted the NFTs again and again to make sure that I did not lose a single one.
I later found out that one of the players took a wrong flight to another wallet of mine and had it redirected.
Finally, with all players accounted for, I declared the operation a success. I then prayed that the hack, which appeared to hit wallets belonging to Layer 1 blockchain Solana, wouldn’t hit hardware ones next.
This incident reminded me how nascent Web3 truly is, and that’s pretty much the theme of this issue.
Security remains a huge problem in the space: I personally know of at least two savvy crypto users that have lost a lot of assets after being hacked.
Until these shortcomings are addressed, the technology probably isn’t ready for mass adoption yet.
— Terence
(Note: Token Issue may be on hiatus next week due to a company offsite event. There’s a topic I really want to write about though, so I’ll see if I can manage it.)
THE BIG STORY
Animoca looks to forge metaverse rules with Web2 giants amid war of words
Image credit: Timmy Loen
⭐ TO THE STARS
🌙 TO THE MOON
🌏 BACK TO EARTH
STILL A PONZI SCHEME
MORE TO CHEW ON
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