Credit Suisse, the Swiss bank, has joined forces with the Swiss Football Association to launch nonfungible tokens (NFTs), bolstering women’s football in the nation.

Discover in this week’s dispatch how pilfered NFTs are typically disposed of within a mere three hours following the theft. Also, uncover AzukiDAO’s proposal to reclaim $39 million in Ether (ETH $1,914) from the Azuki NFT collection’s originator. While supporters of Logan Paul’s NFT gaming venture, CryptoZoo, continue to wait for pledged reimbursements, this week’s Nifty News discloses a dip in prices for blue-chip NFT collections, and the recent Credit Suisse initiative to boost women’s soccer through NFTs.

Stolen NFTs Swiftly Sold: Insight from PeckShield

A study by security firm PeckShield revealed that 50% of stolen NFTs are sold off within 160 minutes on platforms like OpenSea and Blur. The firm reported that a staggering 86% of the identified stolen NFTs were sold on Blur, whereas about 13% found buyers on OpenSea.

The analysis also provided a comparison of the monetary worth of NFTs stolen in June to that in February 2023. As per the report, the value of NFTs stolen in June was $2.27 million, a significant reduction of 85% from February 2023, when NFTs worth $16.2 million were stolen.

AzukiDAO Pursues Legal Action Against Founder ‘Zagabond’

AzukiDAO, the decentralized autonomous organization (DAO) composed of Azuki NFT collection holders, is contemplating legal action against the collection’s founder, known as Zagabond, for purportedly defrauding several projects.

AzukiDAO aims to recover the $39 million in ETH accrued from the Azuki’s Elementals NFT collection’s launch. The DAO asserts that any reclaimed funds from this lawsuit could be redistributed to benefit its entire Azuki community.

Delayed Refund of $1.9 Million from Logan Paul: Report by Coffeezilla

Digital sleuth Coffeezilla highlighted YouTube celebrity Logan Paul’s contentious NFT gaming project, CryptoZoo, citing that promised refunds totaling $1.9 million from January have stalled.

Coffeezilla pointed out that since the refund announcement, there has been no further comment from Paul regarding the refund plans, adding that the YouTuber appears to have no intention of initiating the 1,000 ETH refund.

Nifty News: Shaky Prices for High-Value NFTs & Credit Suisse Embraces Tokens

The base prices for the most prominent NFT collections are nearing two-year lows. Data from the cryptocurrency price tracking website, CoinGecko, suggests that Bored Ape Yacht Club (BAYC) floor prices have slumped to 27.7 ETH, a level not observed since September 2021. Besides BAYC, other collections, such as CryptoPunks and DeGods, also witnessed a price decline last week.

In the meantime, Credit Suisse is venturing into the Web3 space by releasing NFTs on the Ethereum blockchain. The bank’s alliance with the Swiss Football Association aims to support women’s football in Switzerland, with NFT sales proceeds going directly towards this cause.

This article underscores the ever-evolving dynamics of the NFT marketplace, reminding us to exercise caution when investing. It also sheds light on the different ways NFTs are being leveraged to support noble causes, thus emphasizing the multi-faceted potential of blockchain technology.