NFT Market Update 27th December 2022

Password manager, Lastpass confirmed that cybercriminals stole customers’ encrypted password vaults; several crypto wallets were compromised after users stored their seed phrases on the platform.

The Financial Times reported that NFT creators are being forced to diversify into real-world assets to generate new revenues because “the fundamental model of NFTs didn’t work…it was a bubble that has burst and is not going to happen again.”

Solana News

Solana co-founder, Anatoly Yakovenko, expressed it was bittersweet to see unicorns such as Magic Eden, DeGods, and Phantom Wallet opt for multi-chain expansion; however, he reiterated Solana is where the best products are built.

DeGods founder Frank refuted Coindesk’s claims that he asked Solana Foundation for $5M to stay on Solana blockchain.