Nifty News: The Simpsons roasts NFTs, Yuga Labs exec departs after antisemitic tweets, and more

During its annual Halloween special, "The Simpsons" playfully parodied NFTs. However, despite the humorous take on the digital collectibles, enthusiastic participants seized the opportunity to elevate an NFT collection to nearly the highest rankings in popularity and engagement.

Nifty News: The Simpsons roasts NFTs, Yuga Labs exec departs after antisemitic tweets, and more

Nifty News Update: The Simpsons featured a segment in its annual "Treehouse of Horror" Halloween special lampooning NFTs, particularly the FOMO-driven speculative nature of the market. The episode, titled "Wild Barts Can't Be Token," humorously depicted NFTs and their impact on the characters.

Despite the parody, the NFT community on Crypto Twitter responded with enthusiasm. The parody featured notable NFT collections like the Bored Ape Yacht Club and Doodles, as well as digital artist Beeple's work.

Taking advantage of the newfound publicity, Italian parody artist Rino Russo quickly launched the Springfield Punks NFT collection, blending the iconic Simpsons characters with CryptoPunks. The collection, offered as a free mint, rapidly sold out, generating substantial trading volume on OpenSea.

The social lead for NFT company Yuga Labs, Shpend Sahilu, announced his resignation after past antisemitic tweets resurfaced. His decision to step down came as his previous tweets became a distraction from Yuga Labs' projects, including the Bored Ape Yacht Club.

NFT sales are showing signs of recovery after a yearlong downturn, with monthly trading volumes growing for the first time in a year. Crypto data firm DappRadar reported a 32% increase in NFT trading volume in October, reaching levels similar to those seen in August. Ethereum-based NFTs continued to dominate the market, with significant growth.

Other news includes attendees of Yuga Labs' ApeFest event in Hong Kong reporting burns, damaged vision, and "extreme pain" in their eyes, which they attribute to improper lighting. Additionally, NFT marketplace OpenSea announced a 50% reduction in its staff, with plans to launch OpenSea 2.0 with a smaller team.