Cryptocurrency

"NFT Video Startup Glass Falls to Crypto Bear Market"

2023-09-08 [vendor] NFT startup Glass [chain] ethereum, solana
Primary Source ↗
Blockchain(s) Ethereum, Solana

Incident Details

The NFT startup Glass was operating under the assumption that YouTubers and others who post video content for fans online might want to mint those videos as NFTs, which their fans could then buy. Unfortunately for them, they have since “come to the conclusion that there is not sustainable demand for video NFTs”.In September 2022, the startup managed to raise $5 million from investors including TCG Crypto and 1kx. Either that money’s run out, or they’re cutting their losses early.

Technical Details

Initial Attack Vector
Protocol collapse / insolvency
Vendor / Product
NFT startup Glass

Timeline

  1. 2023-09-08 Breach occurred
  2. 2023-09-08 Publicly disclosed