Tag: Auction

Astar, Kabocha Lead in Polkadot and Kusama Auctions

by Blockchain News

Bill Laboon, the Head of Education and Grants at Web3 Foundation, has provided critical updates on the ongoing parachain lease auctions for Polkadot ($DOT) and Kusama ($KSM) networks. In a Twitter thread dated August 31, 2023, Laboon shed light on the leading projects and upcoming changes within these ecosystems.

Astar’s Dominance in Polkadot Auctions

With just half a day left in the current Polkadot parachain lease auction, Astar has been in the lead for the majority of the Ending Period. Laboon’s tweet, which has garnered 8,934 views, 12 reposts, and 61 likes, confirms Astar’s strong position.

Astar is Japan’s top smart contract platform and supports EVM and WebAssembly environments, enabling interoperability through a Cross-Virtual Machine. It’s user-friendly, utilizing familiar tools and languages, and part of the Polkadot network, contributing to blockchain ecosystem and driving web3 technology adoption.

Kabocha’s Unwavering Lead in Kusama Auctions

On the Kusama network, Kabocha has maintained its lead throughout the entire Ending Period of the current parachain lease auction. With three and a half days remaining, the project has already attracted significant attention.

The Growing Importance of “Blockspace”

Laboon also touched upon the increasing discussions around “blockspace” within the Polkadot ecosystem. He directed followers to an article by Rob Habermeier, titled “Blockspace over Blockchains,” for an in-depth understanding of the subject.

Educational Opportunities and Grant Programs

For developers interested in the Polkadot and Substrate platforms, Laboon highlighted a free on-demand course offered by the Blockchain Training Alliance. Additionally, the Web3 Foundation’s Grants Program aims to encourage innovation within the Polkadot ecosystem.

Implications and Future Developments

The parachain lease auctions are a pivotal element for both Polkadot and Kusama networks, as they allow projects to secure a slot on the respective blockchains for a specific duration. The strong performance by Astar and Kabocha indicates robust community interest and investment.

The early leads by these projects could set the stage for their increased influence within their respective ecosystems. Moreover, the ongoing discussions about “blockspace” suggest that Polkadot is actively working to optimize its infrastructure, which could have broader implications for the crypto community.

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NFT Firm Yuga Labs Faces Criticism Over Bitcoin Auction Plan

by Blockchain News

Yuga Labs, the non-fungible token (NFT) firm that gained prominence due to multiple Ethereum-based NFT collections, has drawn criticism from the cryptocurrency community over its plan to auction its new Bitcoin NFT collection. The “TwelveFold” collection, which comprises 300 NFT-like images inscribed on satoshis using the Bitcoin-native Ordinals protocol, opened bids on March 5.

However, Yuga’s plan for the auction has raised concerns among some members of the crypto community. According to the company’s press release, those participating in the bidding process must send their entire bid amount in Bitcoin (BTC) to a unique BTC address controlled by Yuga. Winners would then pay up the BTC they bid, while Yuga said it would return BTC to those who were unsuccessful in placing a top bid.

Critics have pointed out that Yuga’s plan to conduct refunds for unsuccessful bids manually is outdated and inefficient. The user behind an Ordinals-focused Twitter account, “ordinally,” called the auction model a “scammer’s dream.” Although he doubted Yuga would keep the BTC from failed bids, he argued that the way the company carries out the auction sets a “REALLY bad precedence.”

The criticism escalated when Bitcoin Ordinals creator, Casey Rodarmor, weighed in on the discussion, telling Yuga to “get fucked” and calling the conduct of the auction “degenerate bullshit.” He added that if Yuga were to conduct a similar auction in the future, he would encourage others to boycott the project.

Other users also highlighted the shortcomings of the auction system. Some suggested that it’s possible for some to overpay for a TwelveFold due to a potential significant price discrepancy between the highest and lowest bids in the top 288.

Despite the criticisms, some users appreciated the fact that Yuga is attempting to bridge the gap between Ethereum and Bitcoin. The Ordinal Pizza OG collection expressed excitement at Yuga’s BTC collection and called it a “massive net positive for Ordinals.”

Despite the backlash, bidders are still keen to secure a top spot in Yuga’s first BTC collection. At the time of writing, the top bid was 1.11 BTC (around $25,000), with the lowest bid registered showing as 0.011 BTC, or around $250, according to the TwelveFold website.

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Bitcoin Core Developer Luke Dashjr Calls Out Misleading NFT Auction

by Blockchain News

Bitcoin has gained immense popularity over the years as a decentralized digital currency that allows people to transfer money without the involvement of any third party. It has been around for over a decade now, and many developers have contributed to the Bitcoin codebase to make it what it is today. Luke Dashjr is one such developer who has been involved in the development of Bitcoin since its early days.

Dashjr is known for his contributions to the Bitcoin Core software, which is the reference implementation of the Bitcoin protocol. He has been involved in the development of Bitcoin since 2011 and is one of the few original core developers of the Bitcoin project. He has also been involved in the development of other cryptocurrencies and blockchain-related projects.

Recently, Dashjr took to social media to call out an auction site that had used his name and code without his consent to create and sell a misleading NFT. NFTs or non-fungible tokens are unique digital assets that are stored on a blockchain. They are often used to represent digital art or collectibles.

Dashjr revealed in a tweet that a non-fungible token featuring a picture of code he wrote was sold at an auction site for 0.41 Bitcoin or roughly $9,500. The NFT was advertised as his code in the listing and presented to the public for sale and profit. However, Dashjr clarified that he was not involved in the creation or sale of the NFT and had not given consent for his name or code to be used.

Dashjr went on to explain that he had not been the first Bitcoin developer to have his name or work used in this way. He stated that third parties were marketing his name and his code for their own monetary gain without his consent. Dashjr further revealed that the winner of the auction eventually contacted him and he had to inform them that he was not involved with the sale.

Dashjr claims that an individual, either the seller or the auction site, had reached out and offered him a donation of 90% of the auction proceeds, which he declined. Dashjr’s tweet has since received a lot of attention on social media, with many people expressing their support for him.

The incident highlights the issue of intellectual property in the world of blockchain and cryptocurrency. As the industry continues to grow and evolve, it is important for developers to protect their work and ensure that it is not misused for someone else’s financial gain. It also underscores the need for greater awareness and education on the part of buyers and sellers in the cryptocurrency market.

In conclusion, Luke Dashjr’s experience with the misleading NFT auction serves as a cautionary tale for developers and investors alike. It underscores the importance of respecting intellectual property rights and highlights the need for greater transparency and accountability in the cryptocurrency market. As the industry continues to mature, it is important for all stakeholders to work together to create a more equitable and sustainable ecosystem.

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World’s 1st Fine-Dining NFT Concept Auction to Conduct in May

by Blockchain News

The world’s first fine-dining non-fungible token (NFT) concept has announced its NFT dining auction schedules.

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Two auctions will take place on May 14 and 21 respectively. The concept of the company’s NFT  was created in collaboration with Michelin-starred restaurants Ando and MONO – two of Hong Kong’s top restaurants.

Jamie Lewis, CEO of Ioconic and Co-founder at Gourmeta, said in a statement: “We look forward to the two events in May, and are excited to have a group of forward-looking experts from both the blockchain and F&B spaces on board, and explore the infinite potential inherent in tokenising and digitising people’s dining experiences.”

According to Gourmeta, successful NFT bidders will gain special access to the fine-dining experience at Ando and MONO. Early NFT adopters will also become part of the project’s governance.

It further added that all NFTs are minted on the Ethereum blockchain and are available for trading on the OpenSea platform and other NFT marketplaces.

Gourmeta has planned to disclose more details about its tokenomics in the 4th quarter of 2022.

The Gourmeta concept was officially launched in Hong Kong in April 2022. It was co-founded by Hong Kong-based blockchain venture capital, Kenetic and UK-based digital asset company Ioconic, in 2021. 

Gourmeta said that the idea behind the concept of creating fine-dining NFTs was to tokenise culinary experiences for people to ‘collect’ memorable dining experiences. The company also has plans to expand globally. Currently, it is planning to launch projects globally, including Singapore, London, and New York.

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Sotheby’s to Auction for Generative NFT Arts

by Blockchain News

Sotheby’s is a legacy auction house set to auction generative works of art spanning both old and contemporary pieces.

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As announced by the company, the auction will run from April 18 to 24th and to feature the works of pioneering generative artists, including Vera Molnár, Chuck Csuri, and Roman Verostko. 

Molnár is regarded as the first woman to ever venture into the world of generative arts, and her work, 1% de désordre (1976), was designed using computer plotting of rows of concentric squares. Still, two squares were programmed to be randomly omitted. The work is estimated to be worth about $15,000 to $20,000. 

Another more expensive work from Molnár will also be on sale. Alongside the work from other artists, the collectors who throw in the winning bids for these pieces will go with the digital version, while the physical versions will remain in the archive of the artists.

“While NFT projects like CryptoPunks and the Bored Ape Yacht Club have stolen headlines around the world over the past year, few might understand how these NFTs are connected with the history of 20th century art movements — including the early generative artists who paved the way for computer art and the algorithm based art that has inspired many contemporary NFT projects,” said Sotheby’s vice president and co-head of digital art Michael Bouhanna in a statement.

Sotheby’s is not new to auctioning NFT works and is credited for pioneering the trend when it helped Mike Winkelmann (aka Beeple) in selling his Everydays piece which was snapped by a collector called MetaKovan for $69.3 million in Ethereum back in March 2021. Since then, the auction has organized a series of auctions involving generative NFT art collections, including the Bored Ape Yacht Club (BAYC).

The announced generative art auction will further entrench the pivotal role of Sotheby’s in bridging the gap between traditional artists and the capabilities of blockchain tech through NFTs as the Web3 ecosystem evolves.

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Sotheby’s Announces Auction Date for Generative NFT Arts

by Blockchain News

Sotheby’s is a legacy auction house set to auction generative works of art spanning both old and contemporary pieces.

SOTH2.jpg

As announced by the company, the auction will run from April 18 to 24th and to feature the works of pioneering generative artists, including Vera Molnár, Chuck Csuri, and Roman Verostko. 

Molnár is regarded as the first woman to ever venture into the world of generative arts, and her work, 1% de désordre (1976), was designed using computer plotting of rows of concentric squares. Still, two squares were programmed to be randomly omitted. The work is estimated to be worth about $15,000 to $20,000. 

Another more expensive work from Molnár will also be on sale. Alongside the work from other artists, the collectors who throw in the winning bids for these pieces will go with the digital version, while the physical versions will remain in the archive of the artists.

“While NFT projects like CryptoPunks and the Bored Ape Yacht Club have stolen headlines around the world over the past year, few might understand how these NFTs are connected with the history of 20th century art movements — including the early generative artists who paved the way for computer art and the algorithm based art that has inspired many contemporary NFT projects,” said Sotheby’s vice president and co-head of digital art Michael Bouhanna in a statement.

Sotheby’s is not new to auctioning NFT works and is credited for pioneering the trend when it helped Mike Winkelmann (aka Beeple) in selling his Everydays piece which was snapped by a collector called MetaKovan for $69.3 million in Ethereum back in March 2021. Since then, the auction has organized a series of auctions involving generative NFT art collections, including the Bored Ape Yacht Club (BAYC).

The announced generative art auction will further entrench the pivotal role of Sotheby’s in bridging the gap between traditional artists and the capabilities of blockchain tech through NFTs as the Web3 ecosystem evolves.

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Pak NFT Sells for $53M in Bid to Free Julian Assange

by Cryptobriefing

Key Takeaways

  • AssangeDAO has won the Assange-Pak NFT with a winning bid of roughly $53 million.

  • Proceeds from the sale will go toward helping Julian Assange in his ongoing legal battle to fight extradition to the U.S.

  • Decentralized autonomous organizations supporting various social causes are increasingly gaining traction in the crypto sphere.


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AssangeDAO has won the auction for Pak’s one-of-a-kind Clock NFT with a 16,593 ETH bid. The NFT is part of a collaboration between Pak and Julian Assange, with proceeds from the sale going toward efforts to free Assange.

AssangeDAO Prevails

Another DAO has successfully coalesced around a cause.

Today, AssangeDAO placed a winning bid of 16,593 ETH on Clock, an NFT collaboration between Pak and Julian Assange. The funds will go toward Assange’s legal defense fund as well as campaigning and raising awareness for his case. AssangeDAO has been in touch with Assange’s family in relation to the case.



AssangeDAO was able to bid 16,593 ETH, worth around $53 million at today’s prices, after a successful crowdfunding campaign that launched last week. Contributors to the DAO will receive 1 million JUSTICE tokens for every ETH contributed, and those tokens will be used to govern the DAO. Holders will be able to vote on what happens to Pak’s NFT.

According to the crowdfunding platform Juicebox, AssangeDAO also has 17,422 ETH remaining.

The $53 million price tag makes Clock one of the world’s most valuable NFTs, behind Beeple’s Everydays: The First 5,000 Days, and Merge, another NFT by Pak that was sold fractionally for $91.8 million in December 2021.


Assange famously founded WikiLeaks, the non-profit website that’s been publishing leaked or classified news items since it launched in 2006. The U.S. government charged Assange for breaking the Espionage Act of 1917 after WikiLeaks leaked data provided by U.S. Army intelligence analyst turned whistleblower Chelsea Manning. After almost a decade on the run, Asssange is now attempting to take his case to the U.K. Supreme Court to avoid extradition to the U.S. He could face 175 years in prison.

WikiLeaks was among the first websites to accept Bitcoin, bringing mainstream exposure to the asset class in its early stages. It played a similar pivotal role in Bitcoin’s early history to Silk Road, the dark net marketplace that was popularly used to trade illegal drugs in exchange for Bitcoin. Silk Road’s founder, Ross Ulbricht, is currently serving a double-life plus 40 years sentence for his role at the helm of the website. In December, he also received major support from a decentralized autonomous organization after creating his own NFT collection. FreeRossDAO paid $6.2 million for the NFT collection in a bid to support his campaign set him free.

Other notable endeavors from DAOs include PleasrDAO’s acquisition of a one-of-a-kind Wu-Tang Clan album, and ConstitutionDAO’s failed mission to buy a copy of the U.S. Constitution. As DAOs continue to grow in size and scope, it seems likely that more efforts like AssangeDAO will gain traction for other social causes in the future.

Disclosure: At the time of writing, the author of this piece owned BTC, ETH, and several other cryptocurrencies.

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Crypto DAO spends €2.66M on Jodorowsky’s Dune thinking they would own its copyright, receives mass ridicule on Twitter

by Cointelegraph

Late Saturday, Spice DAO, a decentralized autonomous organization that owns a copy of an unpublished manuscript of Frank Herbert and Alejandro Jodorowsky’s never completed Dune film, announced its roadmap going forward. In the Tweet, Spice DAO said it would “Make the book public, produce an original animated limited series inspired by the book and sell it to a streaming service, and support derivative projects from the community.” The group had previously won the Christie’s auction in November for the copy’s sale at 2.66 million euros, or about 89 times its price estimates at the midpoint.

However, there was just one problem, buying a copy of a book does not grant the purchaser its copyright. In the United States and European Union, copyright typically extends throughout the life of the last surviving co-creator, and an additional 70 years after their death. Currently, the copyright owners Jean Giraud and H.R. Giger are deceased, while Jodorowsky is still in good shape at 92 years of age. 

Twitter users and crypto enthusiasts alike seemed to respond to the post with ridicule. One exceptionally ‘savage’ user by the name of @TheNinjaWhippet responded with a link to a free and publicly accessible copy of the book, which has existed online since 2011. The post garnered over 3,500 likes.

Under copyright laws, Spice DAO must seek co-creator consent before making an animated series inspired by the book and selling it to a streaming service or wait 70 years after the death of Jodorowsky when the works enter the public domain. In addition, there is a great deal of uncertainty as to whether or not the copy can be resold at par, as auctions require works to be evaluated by an appraiser to determine their value. Spice DAO has approximately 1,236.12 ETH ($4 million) in its treasury at the time of publication.