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The Defi Mafia Presents: Dr Körpus Collection Ö1
The Defi Mafia Presents: Dr Körpus: The Flesh of Humanity Collection Ö1   Dr Körpus and The Flesh öf Humanity series marks the beginning of an epic story set in a dystopian future where humanity exists in the Metaverse devoid of any physical connection.   The engineered DNA that Dr. Körpus had developed for Würld Pür was exactly what the Tech Oligarchy wanted. It was perfect. It was a prison. Hundreds of thousands of years of evolution combined 46 chromosomes in a wondrous double helix pattern. The DNA molecule.   This is your chance to acquire one of the 462 original drawings from Dr. Körpus’ research as he prepares his army to save humanity from itself.   The battle for The Flesh öf Humanity starts with Series Ö1. Dr. Körpus is the first fully integrated project launch by The DefiMafia, and the Dr. Körpus NFT is a golden ticket with exclusive benefits. With Series Ö1, you gain access to Series Ö2 of 3D characters, and Series Ö3 with full character game Integration into the upcoming DefiMafia Blood Bath PVP game. And with the land we acquire in Sandbox, the Blood Bath Arena is where you can personally wage the battle for The Flesh öf Humanity. Official Dr. Körpus Sandbox Avatars are coming soon, so you better be holding on to one of the 462 NFTs from Series Ö1. We have a bunch of surprises along the way and super rare soldiers in the Dr. Körpus army. In fact, your NFT could end up in a future video game or movie!   About the Artist: The word “prodigy” perfectly describes the amazingly creative mind behind Dr. Körpus. Drawing only on his phone, he began to create a portfolio that would rival any of the big video game and movie studios. But now armed with state-of-the-art equipment along with an experienced team of writers and Hollywood producers, the Battle for the Flesh öf Humanity begins. 462 ACTUALLY hand-drawn NFTs (no computer generated drawings in this collection)   Why 462 you ask? The human genome consists of 23 chromosomes from the female and 23 from the male. Humanity stitched together by nature. But now in the Metaverse, gender only has the veneer of reality. The 23rd chromosome doesn’t determine your sex any longer, and that is where Dr. Körpus focused his research with the addition of the two extra chromosomes in the “Seed”. Forty-Six & Two. Black to white. Dark to light. Demon to God. The final sketch. “Are these 462 demons or 462 gods?” sighed Dr. Körpus with a smile. The battle for The Flesh öf Humanity is about to begin.   Series Ö1: Ethereum Blockchain Price .666 ETH per NFT Max 1 Per Whitelist Spot   For more information on upcoming projects and the exclusive benefits offered to holders, visit www.TheDefiMafia.com
Non Fungible Program | Ean coins with Git Push
Non Fungible Program (NFP) is an NFT project that pays people while they are coding for any open-sourced projects. 
 Every NFP can be linked to one or multiple Github accounts.

 Both the NFP owner and the developer earn coins every time an open-source piece of code is published. Litepaper is available here: https://litepaper.nonfungibleprogram.com __________________ TL;DR - Our NFT allows developers to earn crypto by pushing code on GitHub or by renting it. - We want to push open source to the next level - By creating an NFT that allows Developers and Holders to earn crypto tokens at each contribution on Github - Developers and Non-Developers can earn crypto coins thanks to our utility tokenomic - As early members, this is a huge opportunity Feel free to join us on Discord to not miss any airdrop.
Primitive Club
Primitive Club
Ethereum
"Since the metaverse is evolving rapidly, The information transmitted between the data is too massive, The overflowing data gradually formed a two-dimensional primitive planet at the edge of the universe. The primitive planet followed the history of human evolution and gave birth to primitive humans. They also gradually learn to use tools. They discovered fire during evolution and created new things with fire. Then priests were born, and the culture is continually being passed on, and their world is generating infinite possibilities..." roadmap: "Stage 1 Whitelist Assemble Primitive Club will launch Discord server as a signal for club gathering. Players can jump to our club through major social networks. At that time, we will randomly select 5 users from WHITELIST to airdrop PRIMITIVE NFTwithin 24 hours before minting. At the mean time, WHITELIST users can mint at a price of 0.035 ETH. Stage 2 (minting 25%) Tribal Gathering When the population of the tribe reaches the expected 25%, we will airdrop 10 PRIMITIVEs to randomly selected users. Stage 3 (minting 50%) Wizard Rally When the tribe's population reaches 50%, we will airdrop 5 WIZARDs or WITCHEs to randomly selected users. Stage 4 (minting 75%) Build a team of wizards When the tribe's population reaches 75%, we will airdrop another 10 WIZARDs or WITCHEs to randomly selected users. Stage 5 (minting 100%) Tribal Land After minting is successfully completed, Primitive Club 2.0 will be launched. We will purchase a virtual land for Primitive Club in the Metaverse to maximize the immersive experience of the project."
Primitive Club
Primitive Club
Ethereum
"Since the metaverse is evolving rapidly, The information transmitted between the data is too massive, The overflowing data gradually formed a two-dimensional primitive planet at the edge of the universe. The primitive planet followed the history of human evolution and gave birth to primitive humans. They also gradually learn to use tools. They discovered fire during evolution and created new things with fire. Then priests were born, and the culture is continually being passed on, and their world is generating infinite possibilities..." roadmap: "1 Whitelist Assemble Primitive Club will randomly select 5 users from WHITELIST to airdrop PRIMITIVE NFT within 24 hours before minting and they can mint at a price of 0.035 ETH. 2 (minting 25%) Tribal Gathering When the population of the tribe reaches the expected 25%, we will airdrop 10 PRIMITIVEs to randomly selected users. 3 (minting 50%) Wizard Rally When the tribe's population reaches 50%, we will airdrop 5 WIZARDs or WITCHEs to randomly selected users. 4 (minting 75%) Build a team of wizards When the tribe's population reaches 75%, we will airdrop another 10 WIZARDs or WITCHEs to randomly selected users. 5 (minting 100%) Tribal Land After minting is successfully completed, Primitive Club 2.0 will be launched. We will purchase a virtual land for Primitive Club in the Metaverse to maximize the immersive experience of the project."
First Ever NFT Soccer Team
Presenting the FIRST EVER NFT SOCCER TEAM, an Elite collection hand made in tribute to future stars, VIPs and Legends we all know and love! Every artwork is One Of A Kind and will not be replicated. New Drops are released weekly featuring the best players we see fit for our collection with help from our community. 50% We will ship out our exclusive merchandise for free to a bunch of lucky winners that holds the first ever crypto players, and will launch our online shop to purchase the merchandise as well 60% We will send out 10 lucky winners a first ever crypto players jersey signed by the creators 80% We will grant 10 El-Clásico tickets for the 2022/23 season to crypto players holders 90% we will launch our community hub, where our community members could watch games and comment on the games, together 100% We will fly out one of you to meet us at our headquarters and go together to the champions league finals, and invest back into the community by investing into low income players and helping them reach their goals
Millennial Money
Millennial Money
Ethereum
Millennial Money a signal provider service for the US Stock Market! We encourage people to invest the profits generated from our signals into the New world money! Cryptocurrency. Now our unique Digital Collectibles lives on the Ethereum Blockchain! The most influential people on New York City's Wall Street!
Advent Robots
Advent Robots
Ethereum
Advent Robots is a collection of 11,111 unique NFTs from VFX artists who worked on Avatar, Avengers and with Stan Lee. The Robots bring privileges & VIP access to the upcoming Advent television series, video game and metaverse (See our Advent Robots Trailer). We are a worldwide community of artists, storytellers and fans. Your Advent Robot doubles as your Advent Entertainment membership card which grants privileged access to many other film and television projects and the Advent Studios and City Walk. See AdventRobots.com and AdventEntertainment.com for more details. Lee Baker, the creator of the TV series and the CEO of Advent Entertainment created a video answering questions about Advent Robots: https://youtu.be/ZdNEt_cY89Y Our amazing team created the ADVENT ROBOTS TRAILER. YOU NEED TO SEE THIS TRAILER: https://youtu.be/fnedcS9dfnI
ApeVampires
ApeVampires
Ethereum
ApeVampires is a collection of 6,666 randomly generated NFTs living on Ethereum blockchain. Why should you invest into our project? All apes will be transformed into 3D avatars in the Metaverse, where we will buy land and create game in collaboration with gaming studio. Why did we choose Vampires? This culture is very popular among young (crypto-friendly) generation and we are first NFT project using this concept. NFT holders will get BLOOD token dropped for free in upcoming months. There will be no secondary royalty fees... and if that's not enough reasons to invest, just check out floor price of other Ape collections on OpenSea. We did our research and we know exactly what the audience wants! Our roadmap is full of big milestones. We want to create DAO wallet and let holders decide in what projects to invest. Read more on our website.
ADA Ninjaz: Daisuke
ADA Ninjaz: Daisuke
Cardano
After 2 sold-out seasons, ADA Ninjaz brings you its 3rd clan and drop: The Daisuke. The Daisuke are Nomadic groups of varying technological savvy, the Daisuke are the helpers & saviors of the land Their goals are nature & its nurture. Flora & fauna being their only true care, they shun larger modern society and its ways The Daisuke clan will consist of 8,888 Live 2D (animated) auto-generated NFTs and includes a music file, an MP4 and a still image in the subfiles. Price: 60 ADA (ADA Ninjaz holders will receive up to 20% off) Pricing structure: Each Ninja from previous seasons = 1% off. Ie. 1 Ninja you hold = 1% off, up to 20+ Ninjaz = 20% off (So a Ninjaz holder of 20+ Ninjaz will only need 48 ADA to buy a Daisuke). Join us for the OG manga/anime revolution. And be a part of this journey to making the first decentralized anime!
Bad Kid Club
Bad Kid Club
Ethereum
"In the metaverse, there is a planet called badkidclub. People on this planet have childlike bodies, but they are brave, strong, and agile. They worship violence and use violence to safeguard the interests and peace of their respective territories. Beneath the surface of peace, there are many evil forces that want to unify the badkidclub." "Call! Whitelist mint on May 21 8:00 UTC with 0.03 ETH. Public mint on May 22 8:00 UTC with 0.06 ETH. Reveal on May 28. Mint 25% 5 Special NFTs AirDropp to holders. Mint 5​​0% 10 Special NFTs AirDropp to holders. BKC Creation Contest start,5ETH will be given to 5 winners. Mint 75% Here comes the BKC Merchandise Store,with t-shirts,hoodies or hats and more. Mint 100% Acquired Metaverse land assets and built exclusive showrooms and stores for BKC. 3D BKC is here! The Game is online."
PomPomClub
PomPomClub
Ethereum
A collection of 6000 NFTs of hand drawn PomPoms who escaped from bad conditions to found a club. The club will support a lot of animal charity and will spend a lot of money to help other animals. A part of the money will go back to the holder with huge giveaways! Daily money Giveaways, weekly chance to win a 2 weeks trip for dream holidays and lot more... The story of the poms: This plan had been precisely discussed and prepared for a long time. Our Poms spent hours, days and weeks planning their escape from the place that felt like „prison“ to them. It all started with a casual, almost meaningless seeming meeting on the lawn, when Max and Cooper ran into each other. It was only a matter of a short period of time, when it became obvious that they actually had a lot in common… Both of them were bred Pomeranians, taken away from their fur families at a young age: Eight weeks after birth they were already sold to strangers – as if they were “goods”. Ever since then, people on the street and the people they lived with didn’t take them for serious dogs and only thought of and treated them more like stuffed animals and less like actual living beings. Their owners gave a lot of importance to their physical care and appearance. Despite regular beauty treatments, which actually got on Cooper and Max’s nerves, their emotional needs were neither acknowledged nor met. They were kept away from other dogs on the regular, especially large ones. The owners always justified their behavior with the fear that their dogs might get bitten. „It’s not all about size, it’s about strength of character and sympathy,“ said Max. „Exactly! People are probably scared of big dogs themselves and are just using us as an excuse!”, Cooper exclaimed. Training and learning tricks were also part of their daily routine. „I’m not a circus dog“, Cooper said with anger. And when it got really bad, their owners even put clothes and accessories on them, which were way too small. „It can’t go on like this“, said Max with a desperate voice. „We’re not taken seriously at all, I’m more than just a stuffed animal and nice to look at“, he added. And that’s when the two brave dogs decided to create a network of Poms, who shared their views and wanted to break out of „prison“ as well. It took almost a year for those 6000 Poms to stick to their plan and escape together. But the long and carefully planned escape was not easy, because at the end of the day, they felt sorry for their owners somehow, those superficial people. Some of the Poms didn’t have it in their heart to leave their owners. Among those 6000 Poms there were some dogs that were exclusively bred for profit and had to grow up on terrible conditions. Some shared traumatic experiences that they still struggle with to this day. The 6000 Poms that made it in the end all had the same goal: They finally wanted to develop and grow into their own personality, far away from stereotypes of the human world and thinking in boxes – because EVERY Pom is unique! To help each other survive outdoors, they started a “Pom Pom Club”, a group, where they help and support each other. Everyone can behave and live as they please. Those Poms can finally be DOGS! They are allowed to wear whatever they want, act however they want and meet other dogs and animals, basically whoever they want. Everyone has different preferences. Despite their bad experiences, some Poms plan to go back into the human world again at some point, because they believe in the good in people and would like to be their faithful companions. But first and most importantly, they all want to find out who they REALLY are.
Sales
Sales
Ethereum
Novatar is a limited collection of NFT avatars which can age from a baby into an adult on blockchain. All the Novatars are newborn babies with unique, different facial features and expressions celebrating diversity of race and color. Every Novatar owner can choose whether to age the avatar (30 days after the reveal) or leave it as a baby. Usability: Use your Novatar as an NFT profile picture on Twitter and other social media platforms (when available), find your Meta Identity. Unlock the Novatar's Web 3.0 and navigate through the Web3 City with full-body Novatars. Rarity: Novatar is a technologically advanced futuristic project where baby NFTs can grow up on the blockchain and transform into adults. Novatars present the real life persona resembling diversity of human race, gender and sexual orientation.
KinkySol
KinkySol
Solana
KinkySol is a NFT collection of 500 pieces generated by cool and artistically attributes in Solana Blockchain. 😈Why don't u look at the project covered by kinks, sexiness and of course a little bit lust. KinkySol is the Solana blockchain project that takes NSFW NFT art. Oficially launches on 20th May.Allowing to users to remember their kinks,desires and lust. The KinkySol project will be minted 2 times. 1st one is for whitelist, 2nd one is for all.At the point of minting, KinkySol is created with lingeries or sexy costumes.Head styles, colors, background, tattoos will be randomized at the time of minting. It makes every piece of Kink unique. Thousand Kinks will be available to mint. Kinks can be purchased with Phantom wallet. About KinkySol KinkySol is the sexiest collection of NFTs for adults. Every costume has their own unique kinks. This collection is created by full of sexiness and lust, together, let’s make kinks great again.
ParaboiNFT Presale Live
Para Boi NFT a.k.a guys are not smiling. Fight for a better world! With humour and a bit of facial horror, Para Boi NFT calls upon everyone to change their mindset. Let's organize a better world for all of us. Be part of the revolution! It is a collection 10000 unique created 1/1 nfts. only 3000 for presale presale date: 20th May 2022 presale price: 0.0025 eth Marketplace: https://opensea.io/collection/paraboinft Presale date will end on the 15th June 2022 and Public sales will commence at the price of 0.009 eth Joining our discord gives you the chance of winning our giveaway of over 1000 paraboinfts maximum of 10 each day of which winners will be randomly selected by a bot in the discord server. https://discord.gg/s9X5FxdQtn. This giveaway will kick off from Monday 23rd of May and will keep running still the 1000 set aside for giveaways are completely won
Meet the Dorky Porkys: First digital lucky charms
They’re weird as hell and will bring you just one thing: fortune! And a piggish lot of it too, if you do it right. Dorky Porkys are piggy good luck charms. (in whatever verse you’re in, especially the real one) Born in the universe just left of ours, each Dorky Porky has become accidentally stranded here. They seem to have lost at least one of their dimensions forever and cannot return. Each of the 9999 multidimensional Dorky Porkys is entirely unique in look and style and some are really rare. They all have their own, distinctive personality. You won't find their character under the propositions. You'll have to find it out for yourself. Collect at least one, talk to them, let them protect you from bad energies (some say, they feed on bad vibes) but never ever take their dorky advice seriously if they start talking to you. Always keep at least one Dorky Porkys in your wallet to benefit from their luck attraction. We practically give them away because we want to make happiness available to everyone who can use it. Dorky Porkys are therefore not suitable for trade, because what kind of maniac is stupid enough to sell their luck? ARE YOU READY TO BE HAPPY? WELCOME TO THE WORLD OF DORKY PORKYS.

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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