TikTok launches new Creator Monetization and new podcast episode — #87

Jonathan Kogan
Ownership Economy
Published in
7 min readMay 26, 2022

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NBA Pauses Minting of The Association NFT Collections After Spotting Serious Vunerability

The National Basketball Association (NBA) revealed pausing minting of its new non-fungible token collection, dubbed:

  • The Association — after a major loophole was detected by BlockSec after it recognized the issues with the smart contract that triggered the “Allow List” supply to sell out prematurely

The Flaw

  • Blockchain security firm BlockSec has identified a serious vulnerability that could have allowed a malicious entity to mint a large number of NFTs, without paying any tokens.
  • The main reason behind the flaw is the incorrect use of signature verification
  • This essentially means that the contract fails to ensure that the signature can only be used by the user (and only the user) once.

The NFT Collection

  • 18,000 non-fungible tokens representing all 240 assigned NBA players
  • 75 NFTs are allocated randomly using Chainlink VRF to each player from the 16…

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Jonathan Kogan
Ownership Economy

This is the Ownership Economy, and beyond being a positive social endeavor, the platforms building it are able to leverage incentives. https://jsk.transistor.fm