Quidd: Difference between revisions
Added an infobox for Quidd. |
Fixed punctuation issues. |
||
| Line 7: | Line 7: | ||
}} | }} | ||
'''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" | '''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. | ||
{{Clear}} | {{Clear}} | ||
==Data breach== | ==Data breach== | ||
| Line 30: | Line 30: | ||
''The Quidd Team''}} | ''The Quidd Team''}} | ||
On January 3, 2025, the app would receive an unclosable pop-up stating "Quidd is closing its doors. Please go to market.onquidd.com for more information" | On January 3, 2025, the app would receive an unclosable pop-up stating "Quidd is closing its doors. Please go to market.onquidd.com for more information." On their website, they do not state a reason for the closure, but rather they thanked the users for utilizing the service and tell users to withdraw their funds manually.<ref>https://market.onquidd.com/</ref> At the time, users could only log into the website and withdraw their current funds from their accounts, which did not include total collection value or sales.<ref>https://x.com/ssymes101/status/1875358003639284012</ref> Interestingly, rather than giving an early announcement about the closure on December 23, Quidd released a Betty Boops Holiday Magic collection set.<ref>https://x.com/quidd/status/1871267200008421877</ref> However, on December 20, the Twitter/X account stated "Quidd offices will be closed for the holidays from December 20, 2024, to January 2, 2025."<ref>https://x.com/quidd/status/1870192787737526622</ref> | ||
On January 4, Quidd announced that they are working with POP Culture, Inc. to preserve user collections.<ref>https://x.com/quidd/status/1875652152590545369</ref> Users would have to manually fill a Google Form with their email and Quidd username to have the ability to save their collection.<ref>https://docs.google.com/forms/d/e/1FAIpQLSfuoNA6c20z934i9rwoVKYtULX_kmP1cT3yVUK7rbeRnLu24Q/viewform</ref> Many users took this announcement as empty promises<ref>https://x.com/Joe22367619/status/1875655325430509816</ref> and requested previous functionality, such as minting and selling.<ref>https://x.com/Dogstar3c/status/1875741590008033765</ref><ref>https://x.com/s1vh/status/1877675184364114392</ref> | On January 4, Quidd announced that they are working with POP Culture, Inc. to preserve user collections.<ref>https://x.com/quidd/status/1875652152590545369</ref> Users would have to manually fill a Google Form with their email and Quidd username to have the ability to save their collection.<ref>https://docs.google.com/forms/d/e/1FAIpQLSfuoNA6c20z934i9rwoVKYtULX_kmP1cT3yVUK7rbeRnLu24Q/viewform</ref> Many users took this announcement as empty promises<ref>https://x.com/Joe22367619/status/1875655325430509816</ref> and requested previous functionality, such as minting and selling.<ref>https://x.com/Dogstar3c/status/1875741590008033765</ref><ref>https://x.com/s1vh/status/1877675184364114392</ref> | ||
===Implications=== | ===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> 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" | 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]" | 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== | ==Terms of Service== | ||