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Art

Magic Eden
Magic Eden
Solana
The representation of sacred scenes from the Garden of Eden. Primitive creations in their purest state represent works of fine and exclusive art within the Solana network. The first launch will be 4 works: α (Alpha), β (Beta), γ (Gamma), δ (Delta) It will be an auction with a launch price of 50 SOL for each piece. The winning owner of the auction will be entitled to claim a giant size printout of his nft. The symbolism of religious elements appeals to the interpretation of the observer. The idea of the project is to represent animals in a natural and magical environment. Each of the works represented contains religious symbolic elements that challenge the viewer. Of course, the observer’s interpretation is always foreign to the artist’s intention. He considers these works not only as an edition of a series without a roadmap, but as a masterpiece. The suggested idea is to adorn collectors’ collections with these pieces of fine art. In the coming months, the option to print in giant format will be incorporated for the authentic owners of the works mentioned. This will be as a courtesy of the author. As an initiative to weaken Ethereum’s supremacy in 1/1 art trading the author attempts to push the trading of exclusive 1/1 art on the Solana network.
Hyperborea: Altair Properties Launch
Public mint of 10,000 Solana properties located at Altair on the island of Hyperborea. Welcome to the island of Hyperborea, located in the northern Atlantic Ocean. The properties in this collection is located in the suburb of Altair on Hyperborea. Each of the 10,000 NFTs has a unique combination of features ranging from time of day to the architectural style of the property. With this project, we aim to create a community to build the island of Hyperborea and take it to new heights. From merch to raffles, giveaways, property renovations, and much more, the island will be built by the people. The currency of Hyperborea is the SPL token Leviathan ($LVTN). Holders of Altair Properties will be airdropped $LVTN which can then be used in the Hyperborea DAO, exclusive future drops, property renovation and much more. Public minting will open on September 20 for 0.3 SOL. Whitelist presale minting can be done by people with $LVTN in their wallets, priced at 0.2 SOL. Apply for the whitelist here: https://forms.gle/vRpbEQYWvfdutJvG9 OR contact me on Discord or Twitter. *** Hyperborea is a fictional island created for the purposes of this project
One Mint Genesis
One Mint Genesis
Ethereum
**One Mint Genesis NFT** For the past months, we have seen how the NFT has evolved from being a wild-west featured film with new projects emerging daily, to a more sophisticated ecosystem where brands and artists position themselves in a revolutionary niche. Today we are proud to announce an industry-changing milestone: launching our first dynamic NFT collection fully powered by OneMint.io - Each Genesis Character is fully customizable with special and upgradable traits, available on the "add-on" marketplace. - Add-ons are tradable on their own. - You may attach add-ons to the main token and put it all together for auction. Holders will be granted special access to our One Mint Dynamic NFT Launchpad and be rewarded with our native token $ONE (ERC-20).In order to get early access, you must follow the requirements on the form above, and you'll instantly be added to our whitelist. **$ONE Token** Special Reward to HOLDERS! Our Genesis collection will provide a staking pool, rewarding holders with $ONEFT - our native token. These ERC-20 tokens will provide users with the following benefits: - Creators will gain access to the first dynamic NFT launchpad - Collectors will gain access to a reserved supply from collections launching on One Mint - Early access to our marketplace designed uniquely for dynamic NFTs - Add-ons only mintable with $ONEFT token **Dynamic NFT Marketplace** We created the first interchangeable NFT traits marketplace with truly dynamic NFTs. With this, we aim to pave the way for a new **NFT Trait Economy**, where customizable NFTs open the doors to creativity - resulting in a new add-on marketplace. Each NFT Add-On is on its own a non-fungible token, and when attaching them to the base character, both tokens’ metadata gets merged - thus creating a new unique piece. We have not yet seen anything similar to what we do, because of the technical implication it supposed, but after weeks of research, we've **cracked the code**, now we are opening the doors to those who join our roadmap by becoming exclusive Genesis and $ONE Holders.
HDL Corp: Pre Genesis - The Deity
Collection: 1000 Mint Price $200 USD (+gas) Hygienic Dress League Corporation (HDL Corp.) is a project conceived by an artistic duo who are revolutionizing the art world and the NFT industry, Steve and Dorota Coy. A first of its kind, HDL Corp. is a registered corporation that uses the legal framework and operational strategies of a corporation as conceptual and performance art. Leveraging the promotional strategies of modern corporations, HDL Corp. infuses culture and art into places traditionally meant for raising awareness about products and services, subverting expectations and engaging the public in cultural events or performance art. The HDL Corp. duo want to give back to the artist community while also emphasizing the innovative nature NFTs have to shift the field toward a new arts ecosystem that values sustainability, transparency, and mutual support under this legal and regulated framework for the flow of assets. This is where THE DEITY NFT MINT comes in. The HDL duo will be donating their $50,000 sculpture “The Deity” to 53 North, an organization dedicated to supporting art, in Port Austin, Michigan. The donation of “The Deity” is the first of several unique, multilateral moves by HDL Corp. to change the way art is funded, collected, and distributed. To solidify their inception within the NFT space, HDL will create digital representations of the sculpture as NFTs that will live on the Ethereum Blockchain. The Deity NFT Mint comprises 1000 NFTs at $200 (+gas) each which provides the buyer with a unique digital representation of the Deity Sculpture and access to a world of utilities. $20,000 of the proceeds of sales will go to fund emerging artists to create a collection of work. Utilities include: ● Whitelist to be first in line to purchase the HDL Corp. shares in the corporation (shares in the corporation will entitle shareholders to a to-be-determined portion of profits from NFT sales) ● Access to new mints created, funded and curated by HDL Corp. ● Access to physical and digital exhibitions ● Co-host & speaker privileges on HDL Corp. global spaces ● Artistic consultation through their private community ● Funding emerging artists to create new work The next mint, the HDL Genesis collection, will be the first NFT collection that will legally share its profits with HDL Corp. shareholders (subject to approval by the SEC). HDL Corp. shareholders will gain dividends from each of the future mints that are created, funded and curated by HDL Corp. The Deity NFT puts buyers on the Whitelist to purchase Class B common stock shares in HDL Corp. when we receive our SEC approval.
Universal Soldiers (Free Mint)
Universal Soldiers is a pixel art NFT series made of 1,234 soldiers to collect - all 1/1 editions. Each soldier - called UniSols - has up to 14 properties (except for the 34 Special Editions that can have more properties). We established the rarity profile by developing our own proprietary code: 1,200 combinations were algorithmically generated to obtain the UniSols (the 34 Special Editions were created separately). Each UniSol was then handcrafted with care. Universal Soldiers is an OG NFT series made by CryptoJutsu. It was made early 2021 and dropped in two batches for Presale: Aug. 14th, 2021 & Dec 30th, 2021. 20% of the NFTs sold. Now, the remaining 80% will be available for free mint on OpenSea. Drop date: Sept 17th 2022. .--- --- .. -. / - .... . / ..- -. .. ... --- .-.. ... / - .-. --- --- .--. ... / -. --- .--
Angry Sheep Club
Angry Sheep Club
Ethereum
We are Angry Sheep Club. Angry Sheep NFTs are more than just collectibles–the Club’s initiative is a generative, collaborative ecosystem unlike anything else out there right now. We’re on a mission to generate wealth and happiness while contributing to something greater. Joining the Club means you join an awesome community of people from all around the world. Owning an Angry Sheep NFT means you get perks and even more exclusive, premiere content. Combine all that, and you’ve got access to some pretty badass opportunities. Did we pique your interest? Yeah, we thought so. Follow the link to our Discord and join the Club. We started this initiative so that we could generate wealth and happiness while contributing to something greater than ourselves. The generative ecosystem we’ve created allows us all to access something unique that has never been done before—and we couldn’t be prouder of the result.
Doge Skulls
Doge Skulls
Ethereum
Doge Skulls is a collection of 8,888 NFTs. Each holder may receive exclusive access to experiences, rewards and more. Roadmap: - Phase 1: First Collection (8,888 NFTs Doge Skulls will be ready to minted, stay tuned for the free mint & white list notification) - Phase 2: Other Collections (Launch of other NFT collections, where Doge Skulls holders can receive many benefits) - Phase 3: Merch (Limited release of DogeSkulls collection apparel for holders of the DogeSkulls collection and new NFT collections) - Phase 4: Animal Charity (Up to 20% of profits will be donated to charities that protect and care for abandoned or needy animals) - Phase 5: Metaverse (Metaverse development, which can be within Arcade Land, NFT Worlds, The Otherside or others) - Phase 6: DogeCash Coin (The purpose of the coin will be to benefit holders and enable transactions in the DogeCash ecosystem) Free Mint & WL: https://www.premint.xyz/dogeskulls/
Basic BOGGED
Basic BOGGED
Solana
The Storyline of BOGGED The BOGGED Collection, systems and contributions have been created by 4 members with nothing but skills and talent. The BOGGED Collection was created within late 2021 with the inspiration of forbidding the behaviour of the twins from occurring in the future. BOGGED is a collection inspired by the Bogdanoff twins. The Bogdanoff twins were born on August 29, 1949 in Saint-Lary, Gers, France. The brothers Igor and Grichka Bogdanoff are French brothers and science fiction producers who've attracted online attention for their unusual appearances. What were the Bogdanoff Brothers famous for? They were famous for their unusual and odd appearances as well as being market manipulators. They manipulated markets with the intention of dumping as soon as their audience bought in and buying as their audience sold. A famous story of this is the €670,000 bitcoin scam. They manipulated a millionaire in buying “Temps X" for €800,000 which they then dumped, causing them to create a massive profit for themselves via market manipulation. BOGGED Collection The BOGGED Collection is made up of 10,000 unique pieces of art resembling the Bogdanoff twins, with valuable utility behind the work of art. 1000 pieces of art will be strongly reserved for our whitelist members and the rest of the 9000 will be held in Chapter 3 with the public mint. For ways or information on how to whitelist or any other details, please visit the designated channel.
Rona public sale
Rona public sale
Ethereum
The Rona’s are a NFT collection nobody has ever seen before, but if you look closer, you will recognize something everybody has seen the last few years…Everything started when the first one caught the NFTvirus, it mutated and became a RONA. Hundreds of hand drawn attributes make them unique and trendy. The collection is made to bring joy to their holders. Current incidence is 10000 NFTs. We think what makes us stand out the most is our theme of the NFTs because we have really special one that accompanied all our lives for the last two years. So we wanted to make these little test everyone took thousands of, in to funny looking creatures to hype people up to test themselves :) We finally want our fun side back after all these bad things happened! Stay healthy and have fun :) Check out our Twitter to always be up to date :)
Uncle Chop Chop
Uncle Chop Chop
Polygon
Bounty Hunter for hire … Hunting rugpullers throughout the Metaverse, Uncle Chop Chop is here to protect your bags. This special 10k NFT Collection is a tribute series to the most feared Underworld Executioner and headhunter … Mark " Chopper " Read , affectionately known to his associates as “ Uncle Chop Chop “ . “ Everyone needs an Uncle Chop Chop in the family “ … The Metaverse is embedded with Cybernetics , Clones , Nanotech , Smart AI and Experimental Technology . Rugpullers , Shillers and Project Killers Lurk.. Corporate Mechs , Military and Police patrol the streets . UNCLE CHOP CHOP rules the streets .... As a Bounty Hunter , holding an Uncle Chop Chop provides plenty of bounty ! Bounty 1 : There are 20 ‘ Super Rare ‘ Uncle Chop Chop NFTs to be minted with the GOLD PRISON background , each one Unique in its Traits . Minting one of these awards the holder a piece of original ART signed by Uncle Chop Chop on canvas and a digital copy . His works are fetching up to $10K . Special Bounty : 1 Super Rare will entitle the holder to a personal tour of the ‘ real - life ‘ Uncle Chop Chop’s favourite haunts , bars , clubs , restaurants in Melbourne where he ruled the streets . (All Flights to Melbourne & 5* Accommodation for 5 days is included ) Bounty 2 : There are ‘ Secret Rare ‘ 1/1’s that will be randomly Air Dropped to 10 holders . These have Unique Traits not in the 10k collection . Bounty 3: ALL holders of an Uncle Chop Chop will receive the next Metaverse Bounty Hunter in the Series air dropped as a bonus . Bounty 4 : Raffle Drops of Merch - T- shirts and Sticker Packs . **Further Bounties will be released as the Collection reaches higher minting milestones ** Spawning into the Metaverse on the 16th September (Pre - mint) @12pm EST ( 0.03 ETH ) * Public sale 17th September @ 12pm EST - ( 0.04 ETH ) For WL and MINT head to : unclechopchop.io 1500 WL spots available! , Follow us : twitter.com/UncleCCNFT for details .
ARTYGEEKS
ARTYGEEKS
Ethereum
The ARTYGEEKS project aims to provide you with long-term rewards in the form of exclusive content and exciting game worlds accessible to any investor on day one. Our fundamental brand value is providing them with a unique and future-oriented Web3 experience. The NFT characters were generated using the Generative Art principle with multiple body properties and live in the Ethereum blockchain network. There are 10000 characters. Each character is different from the others, with various features such as body, background, mouth, eye color, expressions, etc., which makes it unique and unforgettable. The Scavenger Orion Game by ARTYGEEKS is an action-packed role-playing game that provides a platform for exploration of a vibrant and bright pixel world, where you will encounter exciting boss fights and challenging enemies.
Plants VS Ape Zombies
Plants VS Ape Zombies
Ethereum
Plants vs. Ape Zombies is a house defense Web 3 game, we make the roles and accessories into 5,555 NFTs that are made up of hundreds of exciting visual traits in Web3 metaverse. Plants vs. Ape Zombies is a house defense Web 3 game which involves homeowners who use a variety of different plants to prevent waves of Ape Zombies from entering their houses and "eating their brains". We make the roles and accessories into 5,555 NFTs that are made up of hundreds of exciting visual traits in Web3 metaverse.Everyone who owns the NFT can participate in our Web3 Games which will be landed next Month. Everyone who owns the NFT can participate in our Web3 Games which will be landed next Month. Plants vs. Ape Zombies is a house defense Web 3 game, we make the roles and accessories into 5,555 NFTs that are made up of hundreds of exciting visual traits in Web3 metaverse. Plants vs. Ape Zombies is a house defense Web 3 game which involves homeowners who use a variety of different plants to prevent waves of Ape Zombies from entering their houses and "eating their brains". We make the roles and accessories into 5,555 NFTs that are made up of hundreds of exciting visual traits in Web3 metaverse.Everyone who owns the NFT can participate in our Web3 Games which will be landed next Month. Everyone who owns the NFT can participate in our Web3 Games which will be landed next Month.
Funny Wxlves Club
Funny Wxlves Club
Solana
The Funny wxlves club collection is 100% handmade and no programmatically generated. All NFTs are unique styles. We have strong focus on quality and community. Join us to be a part of this journey and also building up something amazing together. NFTs Funny Wxlves Club Launch Magic Eden. It Will Take Time For FNWC Because It's Hand Drawn 1/1 Funny Wxlves Club Will Do Its Best And Good For Investors This One Invests In Art And Unique Good For Display Or NFT Exchange. The Funny wxlves club collection is 100% handmade and no programmatically generated. All NFTs are unique styles. We have strong focus on quality and community. Join us to be a part of this journey and also building up something amazing together. Drop 327 For Public Sale And Drop Once A Month Funny Wxlves Club Will Drop 10k NFT.
CaniSpacien, a “space dog” inspired NFT collection
Awesome FREE NFT collection starting the cosmic journey of Homo Spacien. All NFTs are hand-drawn coming together only from the imagination of the well-respected digital artist, Nukhet Cetin using geometrical shapes and digital collage art. Only 4,444 CaniSpaciens will be minted uniting 262 amazing unique traits in 12 categories. CaniSpacien holders have first priority to the “female” Homo Spacien NFT collection. CaniSpacien will also mitigate the carbon footprint of the NFT mint by protecting nature and planting trees to offset the CO2 emissions. CaniSpacien is the first character to be fully released in the journey of Homo Spacien which explores how humans will evolve in the colonization of space. It is a FREE mint (just gas to pay) to celebrate the start of this cosmic journey. In addition, CaniSpacien holders will have first access to the mint of the “female” Homo Spacien NFT planned for this Autumn. Space offers infinite opportunities which is why many unique and colourful traits have been incorporated into this unique NFT collection. This collection, created as digital collage art using geometrical shapes, comprises 262 traits in 12 categories and have come together using computer-generated software.
DigiMushroom
DigiMushroom
Ethereum
Mushroom is favored by health-sensitive people all over the world. Our DigiMushroom will be the leading trends in Web3 Mushroomverse. Our users are life enthusiasts who possess health, humor and positivity. Let's create trends, choose your favorite skin, and use trendy avatars and Memes! We can only go further with the support of our users. We want to create the "next trend" with everyone who is a part of our community. The core driving force behind DigiMushroom‘s determination to enter Web3 is to give back to every contributor and supporter of our lovely Digi mushroom Community. Mushroom is favored by health-sensitive people all over the world. Our DigiMushroom will be the leading trends in Web3 Mushroomverse. Our users are life enthusiasts who possess health, humor and positivity. Let's create trends, choose your favorite skin, and use trendy avatars and Memes! We can only go further with the support of our users. We want to create the "next trend" with everyone who is a part of our community. The core driving force behind DigiMushroom‘s determination to enter Web3 is to give back to every contributor and supporter of our lovely Digi mushroom Community.

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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