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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
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."
Ethopia Online | Play-To-Earn MMORPG | GIVEAWAY
To celebrate the upcoming pre-sale, public sale & exclusive beta launch of Ethiopia Online, we are giving away 5 EO Chests to 5 winners! Ethopia offers players the ability to permanently own land inside its virtual world. If you own one of the Ethopia Online chests you will be one of those! Inside the chest their are 2 NFTs, (1) Ethopian House and (1) Ethopian Citizen Passport. Ethopia is a medieval fantasy MMORPG game that takes you back in time to discover sites of outstanding beauty and rich history, captivating and cradled by many legends. The world of Ethopia is divided into different kingdoms, regions, and cities. A rich story and exciting adventure wait for those whose interests are more intellectual. Find the lost stone tablets, complete quests, train your skills, craft weapons and armour, fight enemies, discover hidden treasures, join a guild, and collect valuable artifacts. JOIN GIVEAWAY HERE >> https://giv.gg/ethopiaonline Discord: https://discord.gg/FUEzUhGf2T https://ethopia.online
Poker Heroes Mint is live!
Mint is live! Poker Heroes is a generative art poker collection made up of 9,999 unique 3D avatars minted on the Polygon blockchain. Each avatar is rendered by combining 777 unique poker-themed traits and accessories. These avatars come with built-in utility through a partnership with the World Poker Tour Global (WPT) that gives them superpowers in the form of $100,000 free rolls, the ability to skip the waitlist and play with celebrities like Steve Aoki and get access to WPT VIP Live events. The 9,999 avatars are divided into three rarity groups: Humans (60% of total supply) Cyborgs (30% of total supply) Gods (10% of total supply) This mint is special because you can mint some special avatars that have poker celebrities traits. Recently, GAMAVRS announced 16 top poker players joining the NFT Poker Club. For more information make sure to check out: gamavrs.com
Scotch Noblemen
Scotch Noblemen
Ethereum
The Scotch Noblemen collection offers an industry refining staking game, securitized tokenomics, and a metaverse-land owning DAO! Earn ERC-20 tokens from yield farm name, then win big, or loose it all by predicting the victor of the highland game! The question we have is simple: do you think you have what it takes to hurl a tree trunk and have it fall precisely at 12 o’ clock? Or lift a small boulder and run it across a field? Maybe you’re more of a throw a hammer over your head type of person; no matter if you’re a sprinter, a heavy weight athlete, or a baker, there’s a place for you in the Highland games! Even if you are none of these things, or if you have never heard of the Highland games, we know you like the sound of passive income! We are the Scotch Noblemen NFT collection, a generative 10k Ethereum based project with unique utility, and an addictive passive income opportunity! Our Noblemen live on an ERC-721 contract, meaning utility is easily possible! Not only is it possible, but it’s been implemented already; we boast the ability to stake your Scotch Noblemen to earn ERC-20 tokens with a very nice APY point. The ERC-20 token is earned from a Uni-Swap yield farm! Aside from being able to take out your earned tokens at any time for profit, holders will be able to partake in the Highland Betting Games! The betting game is a series of events like the already said caber-toss, hammer-throw, or the bake-off; and there’s much more! The betting game works as follows: there is a series of events going on, you choose which event you would like to participate in, then from there, you choose an amount to bet and on which contestant. Things get fun here because each different contestant has a different chance of winning, the highest chance of winning only has a payout of say 1.25-1.5 times what you bet, whereas the contestant with the lowest chance of winning has a payout of say 6-7 times. And that’s that! It truly is as simple as double your lot, or lose it all!
Ada Farm
Ada Farm
Cardano
"Ada Farm" is a Play-To-Earn NFT, blockchain-based game where players can be rewarded by plowing land, Growing and harvesting crops, Harvesting Trees, properties, and other NFT based assets with real-world value by playing the game in a fun and safe Metaverse
Ada Farm
Ada Farm
Cardano
🍒"Ada Farm" is a Play-To-Earn NFT, blockchain-based game where players can be rewarded by plowing land, Growing and harvesting crops, Harvesting Trees, properties, and other NFT based assets with real-world value by playing the game in a fun and safe Metaverse 👨‍🌾👩‍🌾We want to build a game that will allow Ada Farmer's holders will be rewarded for managing their own farm by plowing land, Growing and harvesting crops, Harvesting Trees and to sell it to the local markets. 🥑Escape to the world of farming, friends, and fun! Go on farm adventures to collect rare goods and craft new recipes. Raise animals and grow your farm with friends. Join a farm Co-Op to trade and share or play on your own. You can play Ada Farm anytime, anywhere… Just an internet connection. To have access to play Ada Farm, You need to have your own Farm land NFT of Ada Farm 🏡 🌽The concept of Ada farm took from the most famous game in the world, "Farm Ville," The most popular and loved game on the earth planet! 🍇The goal is to grow, gather and craft your way to building the most efficient and productive Ada farm Community
DegenSOL NFT
DegenSOL NFT
Solana
DegenSOL NFT is a project based on the Japanese comic style “manga”. Holders will get 44% of casino earnings and 50% of royalties! The more you hold the more percent you get.
Catxies World Collection
Catxies World a platform that integrates NFT games, NFT collectibles and decentralized farms hosted on Polygon Blockchain. Catxies is a set of characters with a base model being a very cute and toon like Cat, we build collections using this base and dress it inspired on other games like Axie Infinity, making limited edition collections released on period of times so the value increase over time. We got our own game incoming called Catxies world, it consist in 4 game modes: • Survival Mode • Farming Mode • Adventure Mode • Town Mode You can play here and earn money but we don’t rely on the play-to-earn model that many games use. At Catxie World, we want to build a community that is fun and fair. We believe that play-to-own model provides just that! When you play Catxies World you will earn in-game currency called Cat Coins, these coins will have multiple functions in the game such as upgrades, buying items, and more. You can use the Cat Coins to mint a random NFT! buy a Loot chest and it will contain items of different rarity and traits that will help you in-game, these items can be weapons, tools, armors, talismans and more, all the NFT you get from the loot chests you will be able to sell it on OpenSea. We also have our own Token, Catxie World Coin (CWC) is a governance token; it will give you vote on all the Catxies World decisions, it can’t be earned from the game but it can be acquired through exchanges, ICO and public sales, the income will go to the Liquidity Pool and provide funds for further Catxies development. From the total Supply of 500.000.000, 10.000.000 CWC will be distributed as reward to the owners of the Catxies World Collection with an exchange rate of 1000 CWC to 1 NFT owned, and a limit of 20 NFTs in wallet; this is a Gift to the people who started this journey with us from the beginning and we want to be sure they get a return on their investment.
Starlight NFT
Starlight NFT
Ethereum
Starlight NFT - The world's first 3-in-1 NFT project featuring Room, PFP and Land NFT with game utility! Welcome to Starlight NFT, the world's first fully immersive and interactive NFT project set to launch May 2022. 10,000 rooms onboard the Starlight interplanetary ship will be offered to valiant spacefarers who leave Earth and travel into the void of outer space. Compete against other holders to win NFT skins, and other exclusive digital loot. Starlight, it's never going to get better than this. Earth, far in the future...A scientist has discovered a serum that can prevent aging and cure all diseases. The World Government considered this serum a threat to humanity and decided to hunt down all Eternals, a name given to people who used the serum. Chaos erupted. Soon a deadly battle between the World Government and Eternals formed. The Eternals were outnumbered and soon realized that their only way to survive was to leave Earth. A massive interplanetary ship, called Starlight, was built by the World Government to explore new planets and possible habitats. Prior to the scheduled launch date, 5000 Eternals stormed the space city and made their escape. Join the Eternals and the other passengers of Starlight on their journey of finding a new habitable planet to live. Alien encounters, planetary stop overs and new galaxies will be in store for anyone brave enough to come aboard.

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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