🎶 Muse releases an NFT music album

🎶 Muse releases an NFT music album 🤡 Rug Pull Finder's NFT collection gets exploited 💸 Russia is going to legitimize crypto for cross-border payments

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🎶 Muse releases an NFT music album 🤡 Rug Pull Finder's NFT collection gets exploited 💸 Russia is going to legitimize crypto for cross-border payments

Muse's new album can be bought in form of NFTs

The British rock band has become the first music group to top the UK charts with an album sold on NFTs (non-fungible tokens).

The album, titled "Will of the People," sold 51,500 copies in its first week, making it the best-selling record of the week.

This is a huge achievement for the band, which has been at the forefront of the NFT craze. 1000 tokenized copies of the album were sold on the Serenade marketplace.  

The album's success shows that the NFT craze is far from over and that there is still a lot of interest in these digital assets. It's not just the music industry that's taking notice of NFTs. The fashion industry is also getting in on the action, with designer labels such as Gucci and Balenciaga releasing NFT-based collections.

It will be interesting to see how other artists follow suit and whether this new model of selling music will be successful in the long run.

Rug Pull Finder's NFT collection gets exploited

Rug Pull Finder, an NFT watchdog that investigates alleged scams upon request seems to have failed to see a rug pull right underneath their nose.

RPF is just one example of the many auditors and watchdogs that have popped up in response to the increasing number of scams in the crypto space. As more and more projects are hit by these hit-and-run attacks, the need for these services will only continue to grow.

The team had started their own NFT collection, but it was quickly exploited by bad actors. This just goes to show that no one is safe from rug pulls, not even the people who are supposed to be preventing them.

The collection, called "Bad Guys," was meant to represent NFT scammers in various tongue-in-cheek situations. This digital art was meant to serve as a whitelist for another NFT drop coming later this autumn. Due to the intended function as a whitelist, minting was supposed to be limited to one per wallet.

Unfortunately for RPF, the mint was compromised by exploiters who managed to get over 450 NFTs out of a total of 1,221 in short order. The devs responsible for this have apparently been let go in the meantime.

This just goes to show that no one is safe from rug pulls, not even the people who are supposed to be preventing them. So be vigilant, and don't take anything for granted - especially when it comes to NFTs.

Russia is going to legitimize crypto for cross-border payments

The Bank of Russia has reportedly admitted that cross-border payments in crypto are inevitable in the current geopolitical conditions. The bank has been rethinking its approach to regulating crypto and agreed with the finance ministry to legalize crypto for cross-border payments, the local news agency TASS reported on Monday.

The admission came from deputy finance minister Alexei Moiseev during a meeting of the State Duma’s Financial Market Committee. He said that the Bank of Russia and the finance ministry expect to legitimize cross-border payments in crypto soon.

Moiseev outlined the importance of enabling local crypto services in Russia, noting that many Russians rely on foreign platforms to open a crypto wallet. “It is necessary to do this in Russia, involving entities supervised by the central bank, which are obliged to comply with Anti-Money Laundering and Know Your Customer requirements,” the official stated.

The Bank of Russia has been reluctant to embrace crypto so far, but it looks like the times are changing. With the finance ministry on board with the idea of legalizing crypto payments, it’s only a matter of time before they become a reality in Russia. And maybe that would help some regular people along the way, not just the oligarchs.