Quidd: Difference between revisions - Consumer_Action

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[[File:Quidd.svg|thumb|right]]

'''Quidd''' was a privately held American collectible app founded in 2016 by Michael Bramlage and Erich Wood.<ref>https://www.linkedin.com/company/quidd-inc</ref> According to their LinkedIn, the app had 19 employees, over 8 million users and represented 325 brands as collectible digital stickers. In 2019, the company would be bought by the Hong Kong-based company Animoca Brands, who would move the 2.1 billion individually serialized digital collectibles on the blockchain.<ref>https://venturebeat.com/business/animoca-brands-buys-quidd-for-up-to-8-million-as-it-moves-into-blockchain-collectibles/</ref> In 2022, the company would introduce "Mintables", which let users turn their stickers into NFTs.<ref name="A2022">https://blockchain.news/news/quidd-launches-new-platform-mintablesenabling-users-to-mint-digital-collectibles-into-nfts</ref> These brands included Dr. Seuss<ref>https://techcrunch.com/2021/12/22/this-dapper-labs-backed-company-is-turning-dr-seuss-characters-into-nft-trading-cards/</ref>, L.O.L Suprise<ref>https://finance.yahoo.com/news/mga-entertainment-partners-quidd-l-120000526.html</ref>, Disney<ref>https://www.newswire.com/news/bare-tree-media-and-quidd-team-up-to-offer-digital-collectibles-for-21714386</ref>, Rick and Morty<ref name="A2022" />, and others.

'''Quidd''' was a privately held American collectible app founded in 2016 by Michael Bramlage and Erich Wood.<ref>https://www.linkedin.com/company/quidd-inc</ref> According to their LinkedIn, the app had 19 employees, over 8 million users and represented 325 brands as collectible digital stickers. In 2017, the app was #1 in search and #5 in the App Store's entertainment category.<ref>https://x.com/quidd/status/918843147429564416</ref> In 2019, the company would be bought by the Hong Kong-based company Animoca Brands, who would move the 2.1 billion individually serialized digital collectibles on the blockchain.<ref>https://venturebeat.com/business/animoca-brands-buys-quidd-for-up-to-8-million-as-it-moves-into-blockchain-collectibles/</ref> In 2022, the company would introduce "Mintables", which let users turn their stickers into NFTs<ref name="A2022">https://blockchain.news/news/quidd-launches-new-platform-mintablesenabling-users-to-mint-digital-collectibles-into-nfts</ref> and convert them into Etherium.<ref>https://x.com/mbram/status/1638599791490768909</ref> These brands included Dr. Seuss<ref>https://techcrunch.com/2021/12/22/this-dapper-labs-backed-company-is-turning-dr-seuss-characters-into-nft-trading-cards/</ref>, L.O.L Suprise<ref>https://finance.yahoo.com/news/mga-entertainment-partners-quidd-l-120000526.html</ref>, Disney<ref>https://www.newswire.com/news/bare-tree-media-and-quidd-team-up-to-offer-digital-collectibles-for-21714386</ref>, Spongebob<ref>https://x.com/mbram/status/1708162937871835631</ref>, Rick and Morty<ref name="A2022" />, and others.

==Data breach==

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===Implications===

Before the shutdown, users could buy and sell NFT collectibles on the Quidd marketplace for virtual currency, which could be exchanged for real money through a cash account.<ref>https://web.archive.org/web/20240915231810/https://intercom.help/quidd/en/collections/2696326-cash-account</ref> With their announcement on Twitter/X, users compared this behavior from Quidd as a "~~rugpull~~".<ref>https://x.com/spencer_hames/status/1877188802642325972</ref> In addition, many users warned Quidd of a class action lawsuit.<ref>https://x.com/Lex_407/status/1875563383279472987</ref>

Before the shutdown, users could buy and sell NFT collectibles on the Quidd marketplace for virtual currency, which could be exchanged for real money through a cash account.<ref>https://web.archive.org/web/20240915231810/https://intercom.help/quidd/en/collections/2696326-cash-account</ref> In addition, it was alleged the founder Micheal Bramlage promised users before the 2019 acquisition that users could keep their collections even if the service closes.<ref>https://x.com/Ayyee38/status/1875339313501843827</ref> In the past, collectibles would be sold for as high as $255-$500 each depending on their "rarity".<ref>https://x.com/quidd/status/1367685868455092225</ref> In the first week of March 2021, over $53,000 worth of withdrawals were processed.<ref>https://x.com/quidd/status/1371110813398937613</ref>

With their announcement on Twitter/X, users compared this behavior from Quidd to a "[https://www.coinbase.com/learn/tips-and-tutorials/what-is-a-rug-pull-and-how-to-avoid-it rug pull]".<ref>https://x.com/spencer_hames/status/1877188802642325972</ref> In addition, many users warned Quidd of a class action lawsuit.<ref>https://x.com/Lex_407/status/1875563383279472987</ref>

==Terms of Service==

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 [[File:Quidd.svg|thumb|right]]
-'''Quidd''' was a privately held American collectible app founded in 2016 by Michael Bramlage and Erich Wood.<ref>https://www.linkedin.com/company/quidd-inc</ref> According to their LinkedIn, the app had 19 employees, over 8 million users and represented 325 brands as collectible digital stickers. In 2019, the company would be bought by the Hong Kong-based company Animoca Brands, who would move the 2.1 billion individually serialized digital collectibles on the blockchain.<ref>https://venturebeat.com/business/animoca-brands-buys-quidd-for-up-to-8-million-as-it-moves-into-blockchain-collectibles/</ref> In 2022, the company would introduce "Mintables", which let users turn their stickers into NFTs.<ref name="A2022">https://blockchain.news/news/quidd-launches-new-platform-mintablesenabling-users-to-mint-digital-collectibles-into-nfts</ref> These brands included Dr. Seuss<ref>https://techcrunch.com/2021/12/22/this-dapper-labs-backed-company-is-turning-dr-seuss-characters-into-nft-trading-cards/</ref>, L.O.L Suprise<ref>https://finance.yahoo.com/news/mga-entertainment-partners-quidd-l-120000526.html</ref>, Disney<ref>https://www.newswire.com/news/bare-tree-media-and-quidd-team-up-to-offer-digital-collectibles-for-21714386</ref>, Rick and Morty<ref name="A2022" />, and others.
+'''Quidd''' was a privately held American collectible app founded in 2016 by Michael Bramlage and Erich Wood.<ref>https://www.linkedin.com/company/quidd-inc</ref> According to their LinkedIn, the app had 19 employees, over 8 million users and represented 325 brands as collectible digital stickers. In 2017, the app was #1 in search and #5 in the App Store's entertainment category.<ref>https://x.com/quidd/status/918843147429564416</ref> In 2019, the company would be bought by the Hong Kong-based company Animoca Brands, who would move the 2.1 billion individually serialized digital collectibles on the blockchain.<ref>https://venturebeat.com/business/animoca-brands-buys-quidd-for-up-to-8-million-as-it-moves-into-blockchain-collectibles/</ref> In 2022, the company would introduce "Mintables", which let users turn their stickers into NFTs<ref name="A2022">https://blockchain.news/news/quidd-launches-new-platform-mintablesenabling-users-to-mint-digital-collectibles-into-nfts</ref> and convert them into Etherium.<ref>https://x.com/mbram/status/1638599791490768909</ref> These brands included Dr. Seuss<ref>https://techcrunch.com/2021/12/22/this-dapper-labs-backed-company-is-turning-dr-seuss-characters-into-nft-trading-cards/</ref>, L.O.L Suprise<ref>https://finance.yahoo.com/news/mga-entertainment-partners-quidd-l-120000526.html</ref>, Disney<ref>https://www.newswire.com/news/bare-tree-media-and-quidd-team-up-to-offer-digital-collectibles-for-21714386</ref>, Spongebob<ref>https://x.com/mbram/status/1708162937871835631</ref>, Rick and Morty<ref name="A2022" />, and others.
 ==Data breach==
@@ Line 29: / Line 29: @@
 ===Implications===
-Before the shutdown, users could buy and sell NFT collectibles on the Quidd marketplace for virtual currency, which could be exchanged for real money through a cash account.<ref>https://web.archive.org/web/20240915231810/https://intercom.help/quidd/en/collections/2696326-cash-account</ref> With their announcement on Twitter/X, users compared this behavior from Quidd as a "rugpull".<ref>https://x.com/spencer_hames/status/1877188802642325972</ref> In addition, many users warned Quidd of a class action lawsuit.<ref>https://x.com/Lex_407/status/1875563383279472987</ref>
+Before the shutdown, users could buy and sell NFT collectibles on the Quidd marketplace for virtual currency, which could be exchanged for real money through a cash account.<ref>https://web.archive.org/web/20240915231810/https://intercom.help/quidd/en/collections/2696326-cash-account</ref> In addition, it was alleged the founder Micheal Bramlage promised users before the 2019 acquisition that users could keep their collections even if the service closes.<ref>https://x.com/Ayyee38/status/1875339313501843827</ref> In the past, collectibles would be sold for as high as $255-$500 each depending on their "rarity".<ref>https://x.com/quidd/status/1367685868455092225</ref> In the first week of March 2021, over $53,000 worth of withdrawals were processed.<ref>https://x.com/quidd/status/1371110813398937613</ref>
+With their announcement on Twitter/X, users compared this behavior from Quidd to a "[https://www.coinbase.com/learn/tips-and-tutorials/what-is-a-rug-pull-and-how-to-avoid-it rug pull]".<ref>https://x.com/spencer_hames/status/1877188802642325972</ref> In addition, many users warned Quidd of a class action lawsuit.<ref>https://x.com/Lex_407/status/1875563383279472987</ref>
 ==Terms of Service==