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WinnoBearz NFT
WinnoBearz NFT
Polygon
WINNOBEARZ CLUB Long ago, the WinnoBearz Club lived together in harmony. Then everything changed when the evil nation attacked. The bearz wizard named BelzeBearz has casted a malicious spell that separated pixelated WinnoBearz heads from their bodies and scattered them around the globe. The time has come for vigilant heroes to collect the heads and stop the evil fire bearz. The only question is – will you be one of the HolyBearz ? ---------------------------------------------------------------------------------------------------------------------------- HELP SOME WINNOBEARZ WinnoBearz NFT is a collection of 5,555 randomly generated, funny, pixelated made, unique, colorful and creative bearz NFTs living on Polygon Network. Each WinnoBearz NFT is unique and some others are more diffcult to catch. Find the rarest ones among more than 5,555 possible combinations. The total value is defined by the addition of each layer's point.
☣️ SLM GΞNΞTICS ☣️
Welcome to ☣️ SLM GΞNΞTICS ☣️ The Bio Chemical genetics LAB that genetically engineers Mutants for the Ethereum Block Chain. Here at the lab we've trialed and tested every element on planet earth to create a variety of successful mutations with extraordinary powers available for purchase for private smart contractors. Each of our mutants can under go FURTHER mutations making them even more UNIQUE and RARE ! A 3333 collection Created by UK NFT strategists and renowned UK design team! The team have hand drawn a variety of high quality attributes with thousands of different combinations to generate the most unique looking mutants on the block chain! PLAY 2 EARN GAME, 50% ROYALTY, LOW GAS ERC721A, MUTATABLE NFT & MUCH MORE
SNW-CB/SNW-X Grand Sales
SNW-CB/SNW-X is a limited amount of genesis NFT pass of the SNW ([snw.ai](http://snw.ai)) SocialFi Metaverse. Each walkable, evolvable and divine piece stands for the platform creator's determination to keep moving the entire industry forward by breaking the dimensional wall across NFT communities. Each one out of the limited amount (9,900) of Cardborg (abbreviated as SNW-CB) has a unique mechanism to interact and upgrade with the entire SNW world, making these “habitats” more dazzling and attractive compared with other trans-metaverse warriors. While in the meantime, the scarce TV Head X (abbreviated as SNW-X), limited to only 100 pieces, will unlock its appearance step by step throughout exploration process of the SNW SocialFi Metaspace, demonstrating its unique design and rich heritage inherited from famous copyrights. Along with a sense of belongingness and achievement, SNW-CB/SNW-X works as a Genesis Membership Pass for genesis explorable who aim to embrace a more immersive SocialFi experience. ### Statistics SNW Cardborg; - Token Symbol: SNW-CB; - Issuance Amount: 9,900 pieces: - Team Reserve: 500 pieces; - WhiteList Free Minting: 3,000 (with each address only available to mint one); - Price: FREE - Public Minting: 6,400 (with each address available to max. mint ten pieces); - Price: **0.02 ETH** - Amount of Issuance: will never issue more. SNW TV Head X; - Token Symbol: SNW-X; - Issuance Amount: 100 pieces: - Team Reserve: 10 pieces; - Whitelist Free Minting : 20 (with each address only available to mint one); - Price: FREE - Whitelist Paid Minting: 70 (with each address only available to mint one); - Price: **0.1 ETH** - Amount of Issuance: will never issue more. Superhero NFT Wars ([snw.ai](http://snw.ai)) is a Layer 0 metaverse that connects all live NFT metaverses. Through the unique portals, trans-metaverse NFT holders are summoned into the SNW main universe for interactive web 3.0 immersive social interactions. Let us imagine the scene like: Punk can play against Azuki; Moonbirds can join hands with Mfers to send greetings to a whale user; different groups can gather in the main square and checking the $BTC / $ETH price changes from time to time together like witness the new year count-down; different metaverse from different dimensions fuse into a unified one, etc. As the most special creation aborigines among them, SNW-CB and SNW-X will participate in all the above processes and events, while harvest the most exclusive resources (e.g. special user IDs, exclusive props, experience rights for new functionalities, and possibly, airdrops of special items. The greater the number of SNW-CB/SNW-X held, the longer the duration after minting, and the higher the level evolved for each piece, the higher return and more benefit you will get! As the ultimate goal of SNW is to construct a Layer 0 SocialFi Metaspace with all NFT communities, so the co-builders will determine final appearance of this continent. The holders of the Genesis SNW-CB/SNW-X NFTs have the decisive voting power over community proposals to promote the upgrading, evolution, and ultimately the formation of continent well-bing. In the early stage, it will include essential facilities such as the assembly square, the wishing pool, and the dancing ballroom, interactive playground, submerged P2E minigames, and the infinite expansion possibilities of the SocialFi map. With the continuous improvement of the continental world, the value of voting rights (especially of SNW-X) will become incrementally prominent. The core team members of SNW are from Ubisoft, Tencent, Binance, and Google, with rich and comprehensive experience in social products and game interaction projects. Led by the well-known on-chain GameFi project Starsharks, well-known angel investment institution PreAngel, Geek Cartel, Betterverse DAO, etc. After the grand launch of SNW-CB/SNW-X in May, we will cooperate with well-know
The Lunartics
The Lunartics
Ethereum
Lunartics have their Moon Bags packed! Armed with tiny bodies and even tinier minds, Lunartics have been making desperate attempts to Moon It since 1969 when Neil Armstrong unwittingly ripped them away from their home. Created by FOX Animation legend Julius Preite (Simpsons, Family Guy) and notorious Writer/Producer Dan E. Fesman (King of Queens, NCIS). Each season will launch a new series of animated videos of the Lunartics’ most futile and embarrassing missions to the moon over the past 50 years. Lunartics holders will be able to vote on upcoming missions, and even have a voice in the shape of the series! And, if they’re lucky, see their character pop up in a future episode. Go behind the scenes with two industry insiders, rub shoulders with an exclusive community of creators and animators, and be a part of the next big bang when blockchain technology converges with the world of entertainment! Ξ0.08 per NFT + gas. There is no change in mint price between whitelisted and public mint.
DOGWALD
DOGWALD
Solana
We are glad to introduce you the NFT collection which was inspired by our dog Oswald Lee. It represents 300 types of real emotions and poses from the life of a Scotch terrier on the Solana blockchain. We have collected them throughout the life of our puppy, and we will be happy to give you a part of this huge universe. ROADMAP Phase one- •Creation of a collection of 300 Dogwald on the Solana Blockchain☑️ •Secondary market Approval (Magic Eden, Solsea)☑️ •Launch Website☑️ •Mint •Maintaining the price onthe secondary market and holding promotions for the distribution of Sol from the percentage of Royalties in our official Twitter. •Starting an NFT game development. Phase two- •Distribute the time period for the following collections to maintain balance and price. •Release of 10 new Dogwald and friends collections for a total of 3000 NFTs. •Creation of game where purchased NFTs will be used. •Creation of the Onyx token as a game currency. •Game launch •Creating and launching the Dogwald 3D NFT collection.
Lost Civz | CNFT
Lost Civz | CNFT
Cardano
Bringing the dead back to life on the Blockchain! A tomb of Collectable 1-1 CNFT Mummies Ever-growing hoard of artefacts Come join the fun! Collect your Civilization and build the greatest kingdom! Solid community focus! With events & active members! Art focus with rewards to long term holders! Frequent and transparent communication! Our debut collection, as we plan to further the civilizations you can collect with community voting rounds, giving you the choices to control the destination we'll choose next! Lost Civz is a generative 1-1 CNFT Collection of Ancient Egyptian Mummies! Our first holders will be given Mint Pass's to be able to collect our further civilizations! So be early!
Alpha Puppies Public Launch
Alpha Puppies Hi everybody, Alpha Puppies is a collection of fun puppies barking on the Solana Blockchain. They are all randomly generated with attributes and built in ranking. You should definitely check Alpha Puppies out If you are looking for quality NFT project, You found right place! You can easily make some money by holding our NFTs. We will be listing on Magiceden soon. Don't miss your chance to grab one! Whitelist Pre-Sale Early Access Pass People who own these Early Access Pass (APtokens) will be able to participate in the pre-sale and benefit from the discount. 333 AlphaPuppies NFTs will be launched onto the Solana blockchain. :rocket: PRESALE: 0.075 SOL PUBLIC: 0.1 SOL SUPPLY: 333 PUBLIC LAUNCH: 13 APRIL 2022 Join their Discord: https://discord.gg/rH4yb4YkpA Follow their Twitter: https://twitter.com/alphapuppiesnft
The luxurious life of cryptocurrencies
A private collection of 13 nfts of characters living the luxurious life of cryptocurrencies and some other meme of famous influential characters in the world of cryptocurrency. They will stay in the polygon network. made by jose 70veces7(10% sales will go to charity in a project that will be broadcast on our youtbe channel to testify that the goal is to help the homeless.) we want to create a great community that supports us in our social networks and at the same time allows us to carry out the project to help the homeless, to whom 10% of sales are directed(up to 70 times 7). instagram: nft70veces7 twitter:@ nft70veces7 youtube:Nft70veces7 PROYECT FOR INVESTORS PROFIT The price of the nft will go up its floor each season,in each season the first nft will be the most expensive. In this first season composed of 13 nfts and the seasons will end when they reach 70 nfts. -==(ROADMAP)==- 28/03/22 sale of the first nft of the collection. The first nft is an Elon Musk versus Vladimir Putin meme. Painstakingly created based on the details of Elon Musk's message war with Putin's allies challenging him with their left hand to a man-to-man duel for Ukraine's struggle. the meme is based on the movie karate kid where Daniel Larusso(Elon) fights against Lawrence(Vladimir)from the dreaded cobra kai academy. 07/04/22 The remaining 12 nfts of the first season will be put up for sale,which can be seen on opensea,instagram an twitter little by little do not lose the thread. ??? When the first season or the first 10 are sold, the second season
Cool Kitties (Public Mint)

🐱 Cool Kitties 🐱

Cool Kitties is a unique collection of 1365 Kitties rearing to launch onto the Solana World.Their goal is to create a friendly community for people with Love for both NFT’s and Kitties.

📄 The benefits of holding an (CK) NFT:

🥇 Huge giveaways including Coupons to E-Stores, merchandise, Staking & Farming.
🥈 Access to the presale of their Phase-2 release coming out on Ethereum.
🥉 How royalties are used which are voted for by the community / Entering to Metaverse, where we will buy our land in Sandbox for Kitties World and $CKM Airdrops.

ROADMAP

✨ Idea implementation, Launch of website & building organic community.


✅🎉Launch on 11th April 2022 5 pm UTC.



✅ 🐱Cool Kitties🐱 collection mint start.



💸Rewards distribution for CK holders and SOL Collectors 20% for Minted CK in SOL.



🤖Provide rarity, analytics tools & sales bots for CK hodlers.



🐱Integrate CK into Discord for REWARDS verification.



💳 Launch of Gift Cards system for all the CK Minters and Holders, Guaranteed E-Store gift cards for all the CK holders depend upon their hold share.



🛍️Acquire a secondary marketplace for Passive reward for CK Holders.



🎁Deliver #31 days of airdrops Every
day in June. CK holders will have a chance to win free NFT & SOL
Trick-or-Treat airdrops from CK Collectors,or ultra-rare CK.



⚒️Open source our Reward tools We’ve Developed,to automate our #31days of airdrops and plan on open sourcing this to the public. We want to give the SOL ecosystem another little taste of,what the Kitties Crew is capable of delivering.



🎙Release CK Store, Launch CK Store, Shoping cool things with CK Native Tokens in the SOL NFT space.



🐱Launch CKSwap in addition help for funding CK Native token #CKM.



🏦Establish CKSwap Treasury for CK Native Token and adding liquidity pair with SOL.



🧰Release CK Staking Box will additionally help holders to earn some rewards.


🏆Benefits/discounts will be provided to CK hodlers.


💻Launch dedicated webpages for CK Rewards and airdrops Hosted pages for all CK owners to connect with their CK, airdrops, and more.


👕Make CK merchant Setting and Launch up a CKShop on the iconic products CK brand a portion of the merch royalties will go to a CK community wallet, and CKSWAP
members will receive a discount on merchandise.


🔜More coming soon

Pixelated Skeles Dead Punks
Pixelated Skeles Dead Punk is a collection of unique #11111 max supply NFTs generated with algorithms and artificial intelligence. Linving in Polygon blockchain. NO gas. Inspired by Cryptopunks Collectible characters created in a 14x14 pixel canvas. Four classes PSDP Skele, zombies, aliens and demons. Random appearance 1/1 (skins, eyes, noses, mouths) with a lot of items and accessories, punks hairs, hats, masks, glasses, cigarretes, and t-shirts. Three background Normal, rare and super rare. Collect them and enjoy them. I hope this is begining of my journey, and of course a blessing and a road of fortune for the holders of my colletions. Thank you for your support Enjoy to discord chanel, follow to intagram and Twitter. PSDP news roadmap Presale ongoing! Floor price 0,002eth Launch OFICIAL sale Set the base price according to the lowest resale price to maintain the valuation of the NFT tokens and upload the full gallery of 11,111 to opensea. Giveaways and airdrops to holders. 500 sales = 500 free airdrops 1,000 sales (1,500 headlines) = 1,000 airdrops 2,000 sales (3,500 headlines) = 2,000 airdrops
The CatKinsons $PURR Season 2 - Mr. CatKinson
The CatKinsons $PURR is the CNFT Collection of $PURR, the Original Cat MeMe Token on Cardano! Season 1 featured Mrs Catkinson and on 31st of March, we will drop Mr. CatKinson! 1000 unique CNFTS! Our Ultimate Goal is a P2E Battle & Breeding Game! Join the Cat Fam now! STAY $PURR!
ApeDad 2662: Lost In The Metaverse
A Visionary Sci-Fi NFT Collectible 1111 Hand Made 3D Art Works Graphic Short Story & Original Soundtrack + 101 FREE Royalty Sharing NFTs for Top Collectors ApeDad 2662 is a visionary, a philosopher, an inventor, and a modern-day explorer. His purpose is to explore and discover the possibilities inherent in Unity and Oneness. His latest discovery is the powerful mathematical equation: NFT + DEFI = BLISS! How Did ApeDad 2662 Become Lost In The Metaverse? ...When the gorilla drone soldiers suddenly appeared and shot ApeDad 2662 with a quantum radiation frequency tuned for de-materialization, he was flattened into two dimensions, pixelated and stripped down to only his essential black and white dots. He began experiencing every possible version of himself and then suddenly disappeared completely.... 2662 was now everywhere and nowhere, everything and nothing, he became hopelessly lost in the fabric of the Metaverse. Read the full Graphic Short Story and Check out the new ApeDad 2662: Lost In The Metaverse NFT Collection: https://www.lostinthemetaverse.io Listen to the Psychadelic Low-Fi Hip Hop Instrumental Original Soundtrack: https://www.youtube.com/watch?v=ZdibUIoN1Uo
T Rex Society
T Rex Society
Ethereum
T Rex! Never seen before Nft collection. Join our Discord where you’ll be able to mint a mighty T-Rex in the near future! There’s 6K Dino’s waiting to be yours! Own one of your own dinosaur and show it off as a profile picture or wallpaper! But that’s not all! Our journey is beyond just minting and owning an NFT. We, as a community will make great things happen, from giving back to the world, putting a smile on someone’s face, give to charity, host events for our holders. Diamond hand holders will have the chance to vote on location of events when we get there! Help us get there and far beyond! Cash prizes, gaming and electronic prizes, merch and free NFTs in your wallet are just a few of the things you can win by being a member. Team is fully doxxed, there will be AMAs very other week! https://discord.gg/R4AZvvHR
Clash of Shiba Presale
Clash of Shiba is an NFT collection made up of 4,999 unique 3D generative ART, created with a Well-known artist and studio, inspired by the new generation of crypto-currency and NFTs! When you mint a Clash of Shiba, you're not buying a simple NFT, you are getting access to a community where benefits and utilities will increase with the time. We want to turn our brand into "Disney for entrepreneurs" in the metaverse. They will be able to wear their 3D Clash of Shiba and join Clash of Shiba, a Private Land on the Metaverse where only our community can access. Part of the mint will be immediate reinvested in companies that are aligned with our values and participating in building tomorrow's world such as : P2E and NFT. Choose your Clan and join the greatest Metaverse battle!
Maru Neko NFT Drop (FREE NFT)
5 Maru Neko NFT giveaway to 5 Lucky Winners! 1. Follow Twitter @marunekoorg 2. Like, Comment, and TAG 3 friends 3. Retweet This Tweet 4. Join Telegram Group https://t.me/marunekoorg https://twitter.com/MaruNekoOrg/status/1500786071436595201?s=20&t=lnmsu9TZ5C7YoLoAV3HGBQ

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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