NFT List - Upcoming NFT Drops, New NFT Events, NFT Projects & NFT Calendar

Browse New NFT Projects & Upcoming NFT Drops, NFT Events & NFT Marketplace

Sweet Apocalypse

Sweet Apocalypse

Top Event Badge
Welcome to Sweet Apocalypse 1️⃣We are a Solana based Project and many of our plans are still in their early stages. We are a group of three people, surrounded by a Start-up called Sugargames GmbH, settled in Berlin. 2️⃣No promises to the moon, no promises to be big, we will deliver a stable and steady growth 😎 3️⃣All traits are hand drawn by our artist from Hamburg, who has graduated in art and many years of work experience in the game industry. 4️⃣Our art has a cartonish style, the game characters will be similar. The story is similiar to the given title: An apocalypse occured and to not let us feel frighten and fear that fact, we will make our lifes sweet in many ways. Join our journey and let´s have some joyfull times. 🤩 5️⃣The Project will be realised by our start-up Sugargames GmbH home n Berlin. The team will be doxxed by https://app.radrugs.io
BloCakes

BloCakes

Top Event Badge
The first thing that separates our project is our art. It is unique, cute, and it fits the purpose of our project. We also already have planned the roadmap for the next year and half which shows that we are looking at our project for the long term. In addition, the roadmap will be fully transparent to our community, they will be able to see real time updates along with future tasks. We are going to be entering the gaming space but not with developing a game, instead we are going to make custom Blocakes gaming accessories, host gaming tournaments for holders with prices ranging from cryptocurrency, merch, and in game currency, and will be looking to partner with a gaming organization as our project grows which nobody has ever done as of today. We are also going to build true financial sustainability by creating our Ecommerce store that will be in all the major platforms like Etsy, Amazon and more. This is going to bring passive income which will be put towards our community, the growth of our project, and charity. We will be getting into the metaverse to create a space for our community to flourish both on IRL and in the Metaverse.
SWAGGYLIONS CLUB NFT DROP

SWAGGYLIONS CLUB NFT DROP

Top Event Badge
WHAT IS SWAGGYLIONs NFT? 5,555 Random Programmatically generated NFT Lions living on the Polygon Network. The purpose of SWAGGYLions Club is to create a self-sustaining rewards ecosystem. This ecosystem represents the ability to grow passively in the new creative economy. Our goal is to continue to rapidly build the best quality platforms and apps needed for SWAGGYLions Club to provide the best rewards. The lines between the physical and digital worlds are blurring and the rules are being rewritten. SwaggyLions Club is our most ambitious mission yet, the beginning to a self-sustaining ecosystem for our community of lions. **“A silent wave building a tsunami, who cares about floors when you have rewards.”** Why Join Swaggy Lions Club? Innovation. We believe that blockchain technology & smart contracts have the potential to do much more, and we intend to push the boundaries of innovation. Inclusiveness. We aim to bring as many people as possible on the journey of discovery of the potential of NFTs. Instead of creating an ‘exclusive’ club with a high barrier to entry, we aim to create an inclusive & positive environment for newcomers in the NFT space. Utility. We thrive to bring utility to digital ownership, and to pursue opportunities to connect the digital space with physical. Value. We aim to create a community that collectively makes an impact, along with a community managed company & roadmap of each project within SWAGGYLions NFT. Unique. Community ownership in SWAGGYLions NFT allows for a new type of ecosystem which the world has yet to explore. ROADMAP: v1 SANDBOX: Purchase a plot of land via sandbox.game; to develop Sandbox in-game activities that will allow you to earn and stake $SAND while you complete activities and “PLAY2EARN”. The SANDBOX Platform is also built around the Polygon Network via their staking platform for $SAND. https://www.sandbox.game/en/ Live Mining Rewards: For every 10 SWAGGYLions Club NFT Tokens held, you will receive rewards equivalent to 10% of our miner rewards for that month. “A monthly snapshot will be taken before rewards distribution and applied to screen for display for Holders with 10+ SWAGGYLions Club NFT. Each Rig consists of 12 GPU Super Miners ranging from lows of 1660s, mids of 2060s, to highs of 3090s. Our Community Wallet: will go live with an agreed upon deposit to start it up! With this wallet we will be able to purchase Blue Chip NFTs, develop projects or voted upon content and applications. The Development of $SWAGGYz: in which those who a minimum hold 3 SWAGGYLions Club NFT Tokens will receive an airdrop of $SWAGGYz tokens into their wallets in which the NFTs are held. Active Staking Rewards: You will be able to deposit your NFTs (Leaving your wallet) in order to stake them for a period of time and earn $SWAGGYz tokens daily. You can use these tokens to purchase Whitelist Spots in other projects, NFTs, and Merch or exchange on https://quickswap.exchange ! A 3D Collection: for holders only will be developed and airdropped for free to all holders of 3 SWAGGYLions CLub NFTs or more. Exclusive Streetwear: collaboration with www.houseofkings.co to create the SLC Streetwear Line for holders only that can be purchased with the $SWAGGYz you earned or by holding 10 or more SWAGGYLions Club to receive a swag bag for free. ROADMAP 2.0 to TBA. We rise together. We build together. We grow together. Mining Utility - Staking - Play2Earn - Trading Group - Community Wallet and More
Zoothereum

Zoothereum

Top Event Badge
You can expect anything from Aliens to Dinosaurs and everything in between we have developed some amazing mythical and extinct creatures and characters we are really proud of and think you will love them as well. Owners will keep the original egg as well as what hatches. Two NFT’s for one as a bonus. You can expect anything from Aliens to Dinosaurs and everything in between we have developed some amazing mythical and extinct creatures and characters we are really proud of and think you will love them as well. Owners will keep the original egg as well as what hatches. Two NFT’s for one as a bonus. You can expect anything from Aliens to Dinosaurs and everything in between we have developed some amazing mythical and extinct creatures and characters we are really proud of and think you will love them as well. Owners will keep the original egg as well as what hatches. Two NFT’s for one as a bonus.
Green Crypto Planet

Green Crypto Planet

Top Event Badge
Are you ready to create real impact? The Green Crypto Planet collection, powered by 2,022 Holder- and 4,044 Member-NFTs, is your chance to make a difference. Get yourself a ticket and be part of projects for a more sustainable world. Together we will save our planet! 💯% environmental protection: We want to save our planet! Projects that make an impact for a positive future of our planet and its inhabitants. Green Crypto develops and implements them. 💯% reinvestment: We are all on the same side! We implement projects that are discussed and selected with our community. Each of our NFT holders has the right to vote for the project selection and to be informed about the project in real and virtual meetings. 💯% community co-decision: We make profit for our planet! We strive for long-term goals and want to give back results to our team. 100% of the proceeds from our NFTs are used to save our planet. For a better world. DIGITAL VALUES FOR THE REAL WORLD!🌿 Projects that will save our planet. 🌏 „Even though we live in a virtual world, we breathe real air. That's why we create digital values for the real world.“ Be part of the Green Crypto Club for a sustainable world! 🌱🌿 #greencryptoclub
MetaRun - P2E Metaverse | Metapass NFT Mint
Top Event Badge
The Meta Run is a blockchain-based 3D cross-platform play-to-earn game on Solana for web, mobile phones and Microsoft Windows, developed by game studio Illusion Games. Join plenty of other online competitors in a series of ridiculous challenges and bizarre mazes in the hopes of making the cut and progressing to win! Fail in style with everything from MetaRun creators on Solana to the Crypto Punks NFTs on Ethereum with our unique multichain NFT integration available to customize your look in Meta Run. Each gaming character is initially a non-fungible token from one of the Meta Run collections MetaRun Announces the launch of their Whitelist and Ambassador Program and giving away 2000 WL spots with addtitional bonuses like x1SOL for top inviters in their Discord, Free NFTs, Free In-Game Characters, Discord Roles and Token Airdrop for Golden Metapass owners!
The MetaBirbs Podcast

The MetaBirbs Podcast

Top Event Badge
An AMA Style Podcast Project For The Curious Minds of Web3 In a tree between the real and digital world, lies a tree. Within this tree, a broadcast originates. A podcast, controlled by all the birbs who live there. They come together as one voice and mind, asking questions to interesting and well known individuals and then broadcasting the answers for all to see and hear. Your MetaBirb NFT acts as your voice within the think tank community. Allowing you to submit and vote on the questions asked during each AMA style podcast, as well as giving you live access to the interviews. Participating holders will be rewarded in ETH and NFT opportunities for their contributions. Guests are well known and interesting individuals from MANY different fields of study. To earn an invite to the closed Discord, follow and interact with the questions and riddles posted on Twitter. Many surprise events will occur on the socials before mint day. Podcast will be available on most podcast platforms (Youtube, Spotify, Apple Podcasts, Etc.)
Apeshibanati

Apeshibanati

Top Event Badge
APESHIBANATI is a collection of 10,000 Apeshib NFTs—unique digital collectibles living on the Ethereum blockchain. Your Apeshib doubles as your APESHIBANATI membership card, and grants access to members-only investment opportunity, the first of which is access to Apeshib Swap, a DEX. Our goal is to build a complete ecosystem around the metaverse and Defi with a playful heart. We will be using the community fund to buy properties in the Sandbox and Decentraland to offer a ground of exchange for owners to mingle and profit from the metaverse. Future areas and perks can be unlocked by the community through roadmap activation. We are a member-centric community and we would seek ways to be more inclusive for new joiners to participate in the Apeshibanati. We hope to help Bonana expand popularity and expand the Apeshibanati into a bigger community.
Pig Fitness Club

Pig Fitness Club

Top Event Badge
The Pig Fitness Club is a collection of 10,000 unique 3D Pig NFTs living on the Ethereum blockchain. Each Pig serves as a locker room key and grants you exclusive membership access to a club in which athletes, fitness lovers, exercise enthusiasts, and everyone meet and motivate one another to pursue their fitness goals and maintain healthy lifestyles. Membership benefits include earning tokens and rewards from our exercise-to-earn ecosystem, and access to live or on-demand workouts, bespoke training programs, live group classes with instructors, one-on-one coaching, immersive training experiences, and more, in both the real world and the metaverse. The Pig Fitness Club is here to start a revolution, rewriting how fitness works and shaping the future of fitness. We strive to integrate Web3 and the metaverse with the fitness industry in order to bring it to another level. Join the fitness revolution and experience the difference in the metaverse. Visit pigfitnessclub.io for more details.
Weird Amigos Launch

Weird Amigos Launch

Top Event Badge
Expect to launch the last of July 2022 all 9999 NFTs of Weird Amigos. In the meantime you can go ahead and join the whitelist to be among the first to own an awesome nft of weird amigos. On May and July will be a lot of batches to mint so be prepared and put attention our channels on discord, instagram, twitter and reddit. The Weird Amigos first collection counts with only 9999 NFTs. Each weird amigo is a unique non-fungible token that grants you membership access to our exclusive products, community and our ambitious dream of creating an animated series in which you will have the opportunity to collaborate with ideas and access to new characters. Reserve your place on our whitelist by joining our server in discord and follow us on twitter to know and be aware of all the updates of the project
Qatar2022 Metaverse NFT

Qatar2022 Metaverse NFT

Top Event Badge
WELCOME TO the Qatar 2022 Metaverse NFT World Cup Qatar2022 is a World Cup NFT Rewards project. It is created in anticipation of the World Cup for NFT and Animal lovers. It will consist of 9,900 NFT’s (100 teams with 99 players) with Different Jerseys and Flags that represent different Animals from around the World. 50% of all sales are returned to holders directly through the Smart Contract or through staking and competitions. The 2022 FIFA World Cup is scheduled to be the 22nd running of the FIFA World Cup competition, the quadrennial international men's football championship contested by the national teams of the member associations of FIFA. It is scheduled to take place in Qatar from the 21st of November to the 18th of December 2022. Qatar2022 is a Dynamic World Cup Themed NFT Project created by experienced Blockchain developers with a love of Football.
Masquerade Club

Masquerade Club

Top Event Badge
A Private Collection of 10,000 MASQ🎭 NFTs each with their own unique characteristics living on the Ethereum blockchain. Your MASQ acts as your membership to the Masquerade Club, and gives you exclusive access to member’s only Merch, Airdrops, Masquerade Club metaverse, upcoming Events, and much more. 10% >>> The Community. Create our own circle. - Launch Twitter. - Launch Discord. - Launch Website. ( In Progress ) 20% >>> Mint 10.000 MASQ. - Secondary Market Listing (Opensea) - Verified Holder Channels in Discord. - Rarity.Tools Listing. 40% >>> We release the hidden MASQs. - 5 hidden MASQs (tokens held back from the sale) are airdropped to random MASQholders. 60% >>> Become a Movement. - Member-Exclusive MASQ Merch Store gets unlocked, featuring Limited Edition tees, hoodies, and other goodies. 80% >>> Real Party and Metaverse Party for all Holders. - Our Club deserves benefits. Being a part of our club will give you exclusive access to music events & concerts on planet earth and metaverse. Our NFT MASQs will serve as a pass to great parties. If you have more than 1 nft, you have the possibility to have a more VIP rank of your entry to these parties. (Pending restrictions) We will consider associations of massive events, such as -> Defqon1 - Tomorrowland - Lollapalooza - UltraMusicFestival, among others. 90% >>> Create $MASQ token. - We will unlock rewards to our holders. 100% >>> Charity. - COMMUNITY is key to our art and it starts from the ground up, from the roots… We will donate to non-profit association(s) supporting youth in marginalized families through music and other kinds of arts. V2 - More in development for holders............ - Masquerade Club Special Edition. ( Coming Soon ) The official smart contract will be provided by our team on launch day in our Discord chat. This is not a Crypto Punk, Invisible Friends or Bored Ape Yacht Club but this MASQs will explode and vibrate in your heart. Cool art NFT collection!!!❤️‍🔥
Waffles Pals

Waffles Pals

Top Event Badge
The project Waffle Pals is all about tons of Waffles feeding and entertaining in their own reality. The prime moto is to make individuals engaged and entertained as well along with the waffles & that philosophy is the manner by which we put value to our society. Our motto is simple: keeping the world entertained and fed! It's a simple message, and our work and people strive to reflect that every day. We are working together to bring value that the NFT market is in serious need of. From charity to DAO development, we are just as passionate about our mission as we are about our community! The collection features 8888 warm and crispy Waffles for your enjoyment! We will maintain a 2.5% creator royalty which will be used to fund all kinds of fun stuff for our fellow Pals! Our mint will utilize a custom smart contract and minting site. For your safety, we will not share the site address ahead of time. We haven't announced a mint price yet, but you'll find it to be an excellent value for what we bring to the table!
The ulTRILLight Shadow Click

The ulTRILLight Shadow Click

Top Event Badge
Look, let's get right to the point... I'm Trillag, sole creator of "The ulTRILLight Shadow Click. And in this ulTRILLights dimension has 1,000 characters relatively unaware of their alter ego, " The Shadow Click ". They need your help to become aware, conscious of, and to unlocked them. Want more? This collectable ulTRILLight Shadow click has an online Comic, where YOU yes YOU...could get to name your character. And the first 20 owners will have theirs featured in this comic explaining their origin, the motivation force behind their creation. That's not all. There will be exclusive MEMBER ONLY videos with behind the scenes footage of their creation, exclusive soundtrack to the comic as well as footage of their hand drawn adaption of a later actual comic! The shadows behind the characters mean no harm, but they are already self aware. But unlocking and releasing them, you help each character become whole and able to fully appreciate their world... and each other. Included with the first purchase is free merch, which could be T-shirts to canvas art and portraits of your NFT. These characters are on the Polygon blockchain and will all be available August 23rd (OR soon as first 30 are owned) The first 20 purchased will be featured in comic. After 100 of them have been unlocked, the rest will follow week by week. Once all have been unlocked, the second edition of the comic will be released, which will be focused more of the shadow side of this dimension. The comic will be released once 30 are owned. 100 will be released every week after, leading to the released of the second comic focused on the shadow counterparts.
NFT Presale (1st round price is 0.07ETH)
Top Event Badge
1st round of NFT in presale will be 0.07ETH. A collection of 1,111 unique 3D robots. These robots will use in our staking program. These robots character can further use in play to earn metaverse game. Hold Nft's in your metamask wallet and earn rewards. Nft's are more then just a avator. You can earn money by staking Nfts. The holder's of Nft earns crypto coin. We will launch a crypto coin that named is ROBOT with symbol RBT. We will built RBT coin on polygon (Matic) chain. You just hold a Nft in your wallet and earn rewards with the highest 1000% APY. The more you hold Nft's, more your earn money. The income came from NFT's sale will add in RBT coin liquidity. There is no lockup period for staking. Our system sends you coins on daily basis if you hold a nft. If you put it on sale, you can also earn staking reward. You can sell your Nft at any time. Our RBT coin will soon available on all biggest centralized and decentralized exchanges such as pancakeSwap etc..

NFT List - Upcoming NFT Drops, Events, NFT News & NFT Marketplaces

Sponsored NFT Drops

Banner 1
Banner 2

Browse Our Upcoming NFT Events & Start Your Own NFTs Collection

Read Latest NFT Blogs

Top Tier Athletes And Their Involvement In NFT World

Top Tier Athletes And Their Involvement In NFT World

Many parents support the idea of their offspring becoming athletes and sports stars. When asking a child about their career aspirations, becoming a sports star would top the list. Though reaching the pinnacle is difficult, it is one of the best careers in the world. The attraction to sports is the players' financial gain and adulation. Anyone who reaches the top of any sport will become financially free. Furthermore, players from the most popular sports are celebrities on par with actors and famous businesspeople.

The vast sums involved in sports are due to the massive interest and demand from the general public. People love sports and are willing to pay enormous money to watch sporting events. Due to the fascination, businesses not involved with sports pay massive advertising fees to become associated with the sport. There are many sports, from golf, martial arts, cycling, and racket sports to track and field events. It is an endless list.

However, some sports have better earning potential than others. Sports such as soccer, football, basketball, golf, and tennis are some lucrative sporting activities. Anyone who reaches the pinnacle in these activities will easily earn millions of dollars. There are few sports stars whose fortunes run into billions. Earnings are not limited to the salary received from the clubs. Top sports stars can accumulate wealth through endorsements, sponsorship deals, and payments from their clubs. The massive earnings are due to the player's skill set combined with their popularity. A famous, well-loved star will command the highest salaries.

Investment Options For Sport Stars

Like all wealthy people, sports stars invest their income; they use their finance to buy more wealth. It makes zero sense for money to sit idle in bank accounts. Investments take all kinds of forms. From starting their own business, investing in other companies to involvement in financial markets are some of the popular forms of investments. Cryptocurrencies and their associated technologies have become mainstream in the last few years. The portfolio of many wealthy people, including sports stars, usually has some investment in this arena.

Investing In NFTs

Non Fungible Tokens (NFTs) are one way to invest in cryptocurrency technologies. This field has attracted many sports stars. Some famous sports stars who hold NFTs include Stephen Curry, Serena Williams, Shaquille O'Neal, and Neymar Jr. These are just a few of the hundreds of sports stars who have become involved with NFTs.

NFTs, with their cartoon art representation, appear fun and appeal to the younger generation. Given that the sports star demographic is of the lower age bracket, it makes perfect sense for these people to invest in NFTs. Owning NFTs can help market sports stars and their brands. Becoming associated with a popular NFT collection will increase the media coverage received. For example, if an athlete buys a blue-chip NFT such as the Board Ape Yacht Club, the news will be seen on all major outlets and social media channels. This is a win-win situation for both the project and the athlete.

The more an athlete is featured in the popular media, the more it enhances their prominence. It allows them to demand more outstanding salaries and endorsements. The involvement of top-tier athletes will help drive up the price of the NFT, a good situation for the NFT project. Additionally, NFTs are an investment opportunity. Though buying NFTs is highly speculative, there is an excellent chance that blue-chip projects will see a price rise. Top-tier NFT projects such as BAYC and Azuki continue to see a price increase.

NFTs can help well-known athletes connect with their fans. The trend is for athletes to buy NFTs from significant projects to date. There will be a more significant number of athletes who will release their own NFT collections. It offers the athlete a way to bond with fans in new and innovative ways.

Holders gain the opportunity to meet the star or receive merchandise. This helps to solidify the relationship; it will lead the fans to become even more interested in the athlete's brand and helps to foster a community of fans in ways never seen before. There is also a financial benefit for the fans. Owning the NFTs of a sports star, the fan can sell these assets. Previously the relationship has been a one-way street; the athlete benefited from fans without much reciprocity.

If the perceived value of the star is on the rise, the price of the NFT will increase. It offers the opportunity for the holder to sell their NFTs for a profit.  NFTs open up all manner of possibilities in the world of sports. Sporting clubs can sell NFTs, which will offer their fans the opportunity to gain merchandise, special ticket allocation, or vote on club governance. NFTs are relatively novel, but there is no doubt that this is a field that opens up opportunities never seen before in the world of sports.

 

Apr 9, 2022
Kate
The Importance Of The Founder In NFT Projects

The Importance Of The Founder In NFT Projects

People who've followed NFTs for some time are aware of these essential considerations when buying NFTs.  Many new members of the NFT community overlook this critical aspect.

Many newbies buy NFTs without much consideration. The usual pattern is for people to hear about NFTs, find the NFT community on Social Media platforms such as Twitter, and become part of the Discord servers of various projects.

A busy server and quality artwork ensure the newbie becomes involved in the community. It leads to the person minting the NFT on launch.

Following the mint, it's common to see the price of the NFT fall in value. After a few months, the founders neglect the project, and the holders find themselves with an NFT with little value.

Since this neglect has been the standard pattern seen throughout 2021, most NFTs on the secondary market are worth less than the price paid on launch.

There have been numerous cash grabs. The founders make six figures from the NFT project, but the investors have a losing asset.

The success stories in the NFT space have received praise. For example, the Bored Ape Yacht Club (BAYC) is admired throughout the NFT community, and any NFT stories in the mainstream media feature the BAYC regularly.

For every successful project, there are far more failures.


Mistakes Made By More Experienced NFT Buyers.

After spending time in the NFT community, people become aware of the requirements of a good project. They commonly look for the following characteristics:

Doxxed Team. The team mustn't be anonymous. Anonymous groups are more prone to carry out rug pulls (where the founders close the project after launch). Investors have no idea of the identity of the founders. As a result, the groups can quickly abandon the project and scam the investors.

Great Community. There must be a sizable community behind the NFT project. People look at Social Media and Discord profiles to gauge the size of the community. Without a community, there is no one to buy the NFTs.

Good Artwork. Essential to ensure the artwork is high quality and in line with the current trends. For example, there is a great deal of admiration for the artwork by Doodles and Invisible Friends NFT projects.

Utilities. Projects need more than artwork to become a success. The only exception is if the NFTs are from an established artist such as Beeple, Banksy, or another artist with a big following in the traditional art world.

Projects without a well-established artist need to provide utilities in the form of Play To Earn games, events, staking possibilities, and more.

People seeking these factors in projects are better positioned than newbies. But many projects satisfying these conditions still fail to succeed, especially in this current climate where the NFT space is experiencing a bear market.


The Importance Of The Founder

The most critical factor in a project is the founder. Many investors entertain projects because the founder is well known. They could be a celebrity or an industry leader.

Unfortunately, many of these projects flounder in the long term. Shortly after mint, there is a pump in price. But a few months after the launch, the value has become less than the mint price.

The founders are not highly active in the project; they make no effort to immerse themselves in the community.

It leads people to conclude (probably correctly) the founders are not interested in the project. The community loses faith, sells their NFTs, and projects end up in the backwaters of the secondary market.

A successful project is one where the founder engages with the community. They should be active before and after the launch. Making themselves involved in the conversations on Discord and Ask Me Anything (AMA) or Twitter Space shows a genuine interest in the project.

An example of a successful project is VeeFriends by Gary Vee. The founder is always available. He is constantly talking about his projects on Social Media and does not go missing in action.

 

Wrapping Up

The most important consideration for any NFT collection is the founder, motives, and project vision.

Unfortunately, the NFT world has seen many cash grabs. The devs and the founders fail to take much interest following the launch.

The reality is that unless the NFT collection is by a genuine, highly established artist, the project starts after the launch.

The easy part is the stage up to the launch; it's the segment where the founders are raising capital to realize a vision. Making their promises become a reality involves hard work.

To date, in the NFT space, many founders are fond of the idea of raising capital. But dislike the effort to complete the project and make the utilities and the roadmap a reality.

Many experienced investors in the NFT community understand the situation and no longer mint NFTs easily. This is a contrasting situation to 2021, where people readily bought NFTs.

Perhaps this explains the current bear trend in the NFT world; sales volumes are significantly lower than the record-breaking numbers a few months ago.

For the investor, the best approach is to take a great deal of interest in the founder. Presenting evidence of interest by the founder ensures confidence in the community.

The involvement of a famous name does not guarantee long-term success.

 

Mar 31, 2022
Bill
Common NFT Scams: Identified

Common NFT Scams: Identified

Scams exist in many areas of life, defined as fraudulently obtaining money or goods from unsuspecting victims. 

The Internet is hugely beneficial for society and helps improve many people's lives. But it has led to criminals using it to defraud people—from phishing and fake shopping websites to dating scams. 

Cryptocurrencies use the Internet and are not exempt from scams. The anonymous nature of cryptocurrencies has made things easier for fraudsters. 

NFTs are an extension of cryptocurrencies and are an arena with frauds targeting newbies and the uninformed. Since this is a relatively new technology, most people have likely been victims of one form of scam or another.

What are some of the common NFT scams?

Rug Pulls

After a project launch, the founders exit the project with investors' funds. The founders close the assets associated with the project, such as the Discord server and Twitter account, and leave the scene. With the founders no longer involved and little trace of the project, the price of the NFTs decreases until it becomes worthless. The investors possess nothing more than NFT JPG images on the blockchain. 

The NFT space has been rife with these scams throughout 2021. As people become aware, these deceptions are becoming less common.

Anonymous founders carry out rug pulls; people have no idea of the real identity. Given the anonymity and lack of traceability with crypto wallets, it's a straightforward scam to perpetuate.

Cash Grabs 

This is rife in the NFT space. The founders of the project promise various developments for the project. 

After the launch, they fail to implement these promises. Over time, the value of the NFTs decreases, and the investors are left holding the bag. 

Nearly every NFT investor has been a victim of such activities. Such schemes are also known as a slow rug; the founders leave the project slowly. 

These schemes are difficult to classify as a fraud; the founders are in a position to kick their promises into the long grass. And many often come up with all manner of excuses why developments fail to progress. 

Pump And Dump 

This is where an individual or a group of people team up to buy large quantities of the cheapest NFTs in the collection (buying the floor price). 

They drive up the collection price, also known as "sweeping the floor" or "wash trading." After a significant price increase, the NFTs are sold for a profit, and the culprits exit the market. The value of the NFTs decreases, people are left with NFTs worth less than the price paid. 

The project founders are known to engage in such practices to drive up the price of their collection.

Project Impersonation

Fraudsters try to mimic real projects by creating websites and social media profiles with a similar appearance to the actual project. 

They aim to lure unsuspecting victims to a website and mint fake NFTs. The victim connects their wallet to mint an NFT, which turns out to be an empty file. 

Victims are targeted through direct messages or posting links in the comment section of Social Media platforms.

The problem has become rampant: fraudsters routinely hijack the real Discord server of a project, disabling the power of admins and moderators and placing links to direct members to a fake minting website. 

Customer Support Scams

This is a problem commonly seen on Discord and Telegram. Scammers contact through direct messages offering to help people mint NFTs or provide bonus airdrops.

As a customer service representative, the scammer tries to obtain wallet details such as passwords and the seed phrase. Using the information, fraudsters drain the funds from the wallet.

The problem is that NFT projects warn members not to engage in direct message conversations. Official members of staff have ceased contact with members directly through direct messages. 

Experienced people will not fall victim to such scams; newbies are the intended targets. 

Intellectual Property Theft And Fake Collections

There are projects known to take the artwork from talented artists and use it for their collection. Without agreements in place, this is a form of theft.

Projects using artwork from an artist without permission are a theme in the NFT community. 

On discovery, the reputation falls, and the value of the NFTs decline in price; it becomes a loss-making investment.

Some individuals take artwork from upcoming projects, load it to marketplaces such as Open Sea and aim to impersonate the actual project.

Buyers of these NFTs become victims of a scam.

Conclusion

Scams are common because the NFT market is new, with many new people entering the space. It allows fraudsters to exploit inexperience and vulnerabilities.

The best approach for a newbie is spending time in the NFT community, networking with others on platforms such as Discord, and becoming fully aware of the technology before major investment sprees.

Mar 24, 2022
Kate
Yuga Labs & Bored Ape Yacht Club (BAYC) Launch ApeCoin Tokens

Yuga Labs & Bored Ape Yacht Club (BAYC) Launch ApeCoin Tokens

Bored Ape Yacht Club (BAYC) is the most iconic NFT collection; it's set the standard for others to follow. The nearest rival CryptoPunks, based on nothing more than artwork, was taken over by BAYC's creators, Yuga Labs, in March 2022. This acquisition has created the biggest juggernaut in the NFT world; no other project comes close in size.

BAYC 's success depends on its ability to evolve, pivot, and provide value to its holders. While many projects offer artwork and no more, BAYC has significantly contributed to the NFT world. They airdropped NFTs from other projects (such as Bored Ape Mutant Club and Bored Ape Kennel Club) to BAYC NFT owners, provided in-person events, and developed online games for its members. Yuga Labs allows the holders to use the NFT they own to create and sell merchandise.

 What is ApeCoin?

As part of this ability to grow, in March, Yuga Labs collaborated with the collective named ApeCoin DAO to drop ApeCoin ($APE) token.

ApeCoin acts as a digital currency in the same way as many other cryptocurrencies. People will be able to spend ApeCoins on upcoming products and services BAYC will offer, including the Play To Earn game launching in 2022. The hope is that ApeCoin may evolve beyond the BAYC ecosystem in the future.

There is a difference between Apecoin and cryptocurrencies such as Bitcoin, Ethereum, and Solana. Bitcoin, Ethereum, and Solana are native coins derived from their perspective blockchain. Apecoin does not have its blockchain and resides on the Ethereum mainnet; it's considered a token rather than a coin.

ApeCoins are not too dissimilar to Axie Infinity Shards (AXS), the native governance token of the Axie Infinity network. Axie Infinity players can buy, sell and trade using Axie Infinity Shards.


Distribution

A total of 1 billion ApeCoins were available; the allocation was as follows:

15% to the holders of Bored Ape Yacht Club and Bored Ape Mutant Club holders,

15% to Yuga Labs,

14% to the partners that helped launch the tokens,

8% to Yuga Labs founders,

1% to charitable events,

47% to ApeCoin DAO

ApeCoin DAO

ApeCoin DAO is part of the Ape Foundation, the governance behind the token. They have the power to manage the everyday running, project management, and bookkeeping of the token system. Holders of the ApeCoins and the DAO can dictate the ecosystem's future, thus making ApeCoin a decentralized system.

 ApeCoin DAO consists of leaders from the Social Media, gaming, and crypto space. These people include Alexis Ohanian (from Reddit), Amy Wu (from FTX), Dean Steinbeck (from Horizen Labs), Maaria Bajwa (from Sound Ventures), and Yat Siu (from Animoca Brands).

The BAYC project and Yuga Labs are separate entities from the ApeCoin DAO. If BAYC and Yuga Labs were closely connected, the project would come under the scrutiny of The Securities and Exchange Council of the United States. The Securities and Exchange Council is the government organization responsible for regulating Securities and protecting investors. To date, the organization has not focussed on NFT projects.

Launch 

On launch, the price of ApeCoins started at almost $40 per token. During the day, the token fell to around $6 as people who received free tokens sold their share. A few days into the launch, the price of the ApeCoin sits at around $11. The vast market cap size has meant that ApeCoin is in the top 50 of all cryptocurrencies.

The token was available on all major exchanges such as Coinbase, Binance, KuCoin, and FTX. It's unusual for new tokens to be widely known, but the popularity of the BAYC meant exchanges readily accepted ApeCoin onto their platform.

Original holders of BAYC NFTs were given 10,094 tokens for each NFT they held. This translates to nearly $400k at the price height and $60k near the bottom.

ApeCoins show that the Bored Ape Yacht Club project continually provides the holders with utilities. These utilities translate into social and financial gain. Unfortunately, the NFT space is riddled with scams and rug pulls. But Yuga Labs have set the blueprint for what makes a fantastic NFT project, an aspiration for other projects to follow.

No one can predict the price movement of digital currencies; there are no guarantees of price increases. The ecosystem created by Yuga Labs is continually expanding rapidly; it's probably a good bet to suggest ApeCoins are potentially a significant investment.

As always, do your own research before investing.

 

 

 

 

Mar 23, 2022
Dave