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XRP CONSULTANTS LLC
XRP CONSULTANTS LLC
Ethereum
In 2022, historical events in Ottawa, Canada will be preserved. This is a tribute to those in the convoy who stood up for freedom. 18+, all genders, all educational levels, Canadians, and all individuals who stand up for truth society, and freedom. "The Canada Trucker Convoy is a symbol of Freedom Of Expression. Canadians used their right in various regions across the country. The protest became historically significant because the citizens from various parts of the country unite together to raise their voice against discrimination and injustice. Canadian Charter of Rights and Freedoms marks a line balance between individual freedoms and collective interests. #Freedom #Trucker #Convoy #Movement #Maple #Canada #2022 #Protest #NFT #NFTs #NFTart #eth #ethereum #Solana #crypto #cryptoart #DeFi #opensea #blockchain #collectible #nonfungibletoken #art #digitalart #cryptocurrency #nftartist #nftcollectors #nftartwork
Hexgo
Hexgo
Ethereum
HEXGO is an exclusive and private collection of 10,000 NFT cards built on the Ethereum blockchain using the industry-leading ERC-721 token. We are the first and only NFT project to gift 50% of all OpensSea sales royalties back to the members in a registered NFT giveaway contest. There will be 250+ NFTs given away per week with an estimated value of $1,500,000 USDT per month giving all card holders a chance of winning non-stop every week. The NFT membership also gives you exclusive access to Hexgo utilities and the Hexgo rewards program giving members a lucrative return on investment. Endorsed by many crypto entrepreneurs, crypto whales, and celebrities in the NFT industry. Featured on Yahoo, Fox, Bloomberg, Forbes, Medium, Tech Times, Market Watch, Jpost, Hype magazine, Disrupt magazine, Insider, Crypto news, ZyCrypto, and many more.
Karto Cars
Karto Cars
Ethereum
Karto Cars is a play-to-earn game comprised of 2,500 retro-fitted cars. Each NFT minted will make a breath-taking appearance on our tracks 🔥 Karto Cars is a new play-to-earn game comprised of 2,500 retro-fitted cars. We bring a convincing alternative to the cookie-cutter PFP NFT projects that have flooded the market. Each NFT minted will make a breath-taking appearance on our tracks. Owning a Karto Car will give holders access to racing tournaments, cash giveaways, exclusive airdrops, and much more to come! Come Vibe On Our Retro Wave Track. Collect Easter Eggs For Extra Prizes, Memorize The Maps For A Greater Edge And Enjoy The Car-Loving Company Of Our Community. New Maps Will Periodically Be Revealed As Our Community Grows. Roadmap: 0% Welcome new contestants to the most chill track to take place on the mobile and metaverse. Bring your burning passion for collecting cars, NFTs, making friends, and building a community you belong to the starting line. Bring your NFTs into our app and race with us! Ready? Set, GO! 20% At 20% capacity, every Monday through Friday for a month, you’ll have the chance to win a cash prize! A separate event will take place on weekends for 2x the normal prize! The daily entry ratio is 1:1 for everyone other than Karto holders which will receive an additional entry for every Karto Car above 3 to a limit of 5. 40% Fastest Lap: The OG diamond hand holders will get to choose a Karto Car in their collection to have 3D printed and shipped to your address. Active community users will be a part of the beta playtesting new features, so keep those chat stats up! (SUBJECTED TO CHANGE TO A BLACK CARD 👀 ) 60% Giving Back: KartoCars holders will vote which popular Twitch charity stream to send $50,000. This is thanks to you, our great community, that we can do this. Let’s be the top donator, (Ideally we can get in agreement with a company to match our donation, making the community proud of what we’re doing) 80% Pole Position: We want to share the vibe IRL, so we’re dropping Karto Car merch to further propel the project. A new round of daily raffles will take place with even bigger prizes like cash, merch, and whitelist spots for exclusive new drops. 100% Finish Line: Get your retro wave cars retrofitted with customizable parts to enhance your chance of winning. This will also add another layer of rarity to your cars, and OGs will have discounts for new parts. Get in while you can!
Wicked Wives Club
Wicked Wives Club
Ethereum
Meet Wicked Wives, Your Companion to Metaverse the adorable collectible series from PN Labs. Own, play and earn rewards with your companion. Wicked Wives Club is a collection of 9999 diverse, beautiful, and badass wives NFTs by notable artist PeterS. Each stroke was a hand-drawn labour of love that took months of planning to assemble. This is a chance to own a piece of her biggest and boldest art collection ever. ✴ 5% of all Primary and Secondary profits go to Womens Fund Asia Charity so that girls and women worldwide can gain access to education that will empower them to lead and make knowledge their weapon. ✴ Join a growing community united by the same dreams and get access to incredible benefits and services. Wicked Wives Club is the first NFT project that aspires to connect the Metaverse and the real world. WWC allows you to really fulfil your most extravagant dreams.
Hootles - Pre-Sale Live Virtual Meet-Up
Know Hootles: Hootles is a P2E game-centered NFT collection on the Polygon blockchain consisting of 3,333 cute & friendly owls. Each Hootle is one-of-a-kind and 100% owned by you; it cannot be replicated, taken away, or destroyed. Hootles, for the first time in the NFT domain, plans to incorporate the potential of affiliate marketing to offer unlimited earning potential to its holders. The vision of Hootles is to create a universal brand that can be enjoyed both digitally as well as physically by the age group eight to eighty. Expect opportunity, growth, fun, surprises, and engagement in every step. The project is made by the people for the people. So, be Hootled, be Loved! The Hoot-Vent: Let´s break the ice. Hoot-vents are fun. So, ask us about anything. We are very excited! We will primarily focus on: -About Hootles -Know us -Background -Current status -Future plans (roadmap) -Premium benefits -Many more.....we go with the flow But hey, we have more...as an acknowledgment for spending time with us, we have a BIG SURPRISE for you ALL. A sneak peek? Well Maybe...A secure Whitelist Spots for Everyone Participating! Even something extra...Who Knows? Join us FREE & return with GIFTs!
OAZIZ
OAZIZ
Solana
The NFT collection will be released in three volumes, with a fourth volume dedicated to partnerships. Our NFTs will resemble futuristic sculptures in the "bust" style, capturing facial characteristics, clothing, texture, and motion. The collection is based on ancient Greek mythology as well as current fashion trends. The 12 gods of Olympus, monsters, and mythology are combined with modern aesthetic trends in this NFT collection. 8K high definition 3D sculpting models and poster design features will be included in the artwork. Male and female Gods have two base models. NFT also functions as an art form and portrays upcoming P2E game characters. Owners of the genesis collection will become members and gain access to OAZIZ ecosystem. Background, body textures (skin, garments), facial features (beard, eyes, skin), and other components based on style, such as floating text, are all included in each item of the collection. There are a total of 12 000 pieces.
Thunderwave Cave Trainer Club
The Thunderwave Cave Trainers Club is the first exclusive NFT Pokemon & '90s Pop Culture Community. Holding one of our NFTs grants you access to our exclusive clubs where we run online events for Monthly Box Breaks, Games & Quiz's with top-top prizes. At every milestone, we even break multiple WOTC Box's and the packs opened live for random members. We are talking 5k, 10k worth of Pokemon cards, and prizes all exclusive to our members. We are also working towards our metaverse goals and our first Play to Earn Game. NFTS Our NFT is based on the original Pokemon game sprite, as we grow so will your NFT, members will receive evolution spray which will generate the next evolution of your NFT, in its final form it will be ready to become your character in our Play to Earn Game. More info on our Socials & Discord
OrigamiNFT
OrigamiNFT
Ethereum
Origami NFT Origami is a utility-focused NFT collection taking advantage of the endless opportunities in the crypto space. The concept is to build a community wallet where the funds are used to bring various benefits to its contributors, acting like a whale in the market. The main focus is to make financial profits through minting, bidding low, buying the dips, getting airdrops, and more. Once the wallet grows, holders will be able to burn their origami against Ξ (ETH) Holding an Origami will also give you access to a range of utilities: - Spy Alpha groups - Access tools - Profit-sharing - 0% interest NFT loans - Experimental working groups - And more You can find all the informations needed in the white paper on medium about how the project will works. On the Discord, the community are already growing up and can help for any kind of questions.
OKAMI
OKAMI
Ethereum
OKAMI is brand associated with its collection of 5,000 unique 3D well-designed NFTs released by a group of Dutch artists. Each OKAMI is unique and exclusive based on a hundred traits. The objective is to build the strongest Ethereum NFT community and project. Entering into the OKAMI Community means joining a family full of investors and NFT enthusiasts who believe in the future of Ethereum and smartchain technology. Vision Okami: The Dream A key product that allows users to access and interoperate with other chains and platforms is the cross-chain bridge. With the future of Web3 moving towards interoperability, cross-chain bridges are needed for users to interact with one another and collaborate while building innovative products, for cryptocurrencies and NFTs alike. Each growing blockchain has its own unique strengths, such as: security, transactions, scalability, speed and user activity. Our mission is to bring NFTs from other chains to Ethereum blockchain and, provide other chains wider markets through building an NFT cross-chain bridge. This means greater exposure for NFT creators, and better liquidity for asset holders. Staking platform With the NFT market booming at the moment and new marketplaces popping up on different blockchains, it’s hard to determine the best projects to invest in. There are millions of NFTs for sale! Value is often based on the credibility of the artist and, let’s be honest, most of the NFTs right now are simply drawings that we really can’t do much with. Why don’t we provide direct utility to holders? Let’s add the ability for NFT collectors to stake them and receive rewards from it by providing stake and farm rewards. This new project combines utility to NFT collections - by rewarding holders. NFT projects can deploy their entire collection or a part of that to our DEX with the possibility to stake them and reward stakers and Liquidity Providers with their own tokens. Once the user connects their wallet, the NFTs which are stake-able will appear in the dashboard. The system will automatically recognize NFTs on the Ethereum Network and identify those with staking capabilities. You will be asked for the desired lockup duration and the APR for that time period will be calculated. To earn rewards you will have to stake $OKAMI tokens with the staked NFT(s). For NFT projects that want to use our staking platform they will need NFTs and tokens. Our developers have made it easy for artists to create a token for their NFTs. A detailed step-by-step instruction manual will be released via our website. Owners can also choose to reward users with other tokens. The key point for NFT creators is to steadily attract new NFT enthusiasts to their collections, and give their holders the opportunity to earn rewards.
Wicked Pirate Bone Crew
The Wicked Pirate Bone Crew is a collection of 9,999 mischievous pirates cruising the oceans of the Ethereum blockhain. We are a community-driven brand for voyagers and explorers ✨. Built with utility & community at the foundation, it is our mission to facilitate exploration into uncharted territory within both the web3 and physical worlds. By becoming a member of the Wicked Pirate Bone Crew, you secure a mint pass for any future projects, commercial rights over your NFT, access to the exclusive Treasure-Cove Discord channel, access to exclusive merchandise alongside raffles & giveaways, engagement in the creation process for our 4-Panel comics, involvement in the Metaverse integration of this project and access to the DAO-managed treasury, where the community will hold meetings and discuss ways to grow our brand. A staking mechanism and a utility token will also be implemented for NFT holders, to bolster the Wicked Pirate Bone ecosystem and introduce advanced tokenomics. This will ensure that further value is driven to the holders of Wicked Pirate NFTs and the project as a whole. You will also be helping advance and fund marine conservation efforts. We will be donating up to 25 ETH from primary sales to the charity of the community’s choice. Join us in our exciting journey as we establish a medium for meaningful connection, collaboration and adventure.
The Puffs
The Puffs
Polygon
What is The Puffs Official ? The Puffs Official Name: The Puffs Contract: ERC721A BlockChain: Polygon Supply: 5,000 Price: Whitelist: 0.5 Matic Pre-Sale: 10 Matic Public Sale: 15 Matic Feature: 1. NFT Reveal (Sold out / After 3,000 Minted / 2 Weeks) 2. ERC721A (You can search what this is) 3. Verified Smart Contract (Can easily get verified the collection in Opensea) 4. 3 Sale Phase (Whitelist, Presale and Public Sale) Our Solidity is verified. Our Smart Contract Address is also verified. Our Project is already featured in 5 large platforms and 13 more. Our Smart Contract is immutable. We injected a code that can lower the Gas Fee transaction. How this works? If you buy, sell and transfer their is a Gas Fee. Right? We are on Polygon Blockchain so the Gas Fee is low but what if we can lower it more? Our team invented a lowering Gas Fee Transaction. Yes it can lower more the Gas Fee you pay. Our estimate Gas Fee in our NFT is only 0.002 Matic. This can change varies on the network traffic, network status, and price of the blockchain. MintDate: June 8 / 8:00pm GMT +8
Donation Labs
Donation Labs
Solana
Hi there! Donation labs is a project based on the Solana Blockchain! Donation Labs aims to fund great projects in the WEB3 industry, making them come to life. Each month the closed community of holders will be able to submit their ideas, and the top ten ideas will be announced to the community. The three with the most votes will be funded! Within the community, all users will also be able to submit their career skills. That will then supply jobs for freelancers and an opportunity for projects to hire specific people. Each month, the three most voted ideas will be funded with 120 Solana 1st place: 60 Solana 2nd place: 40 Solana 3rd place: 20 Solana How to get whitelisted? Doing the metioned things down below will make you a candidate for a whitelistspot Boosting our server Being a active chat member Inviting new people to the server Participate in giveaways here on discord or on our twitter Minting will be done on Magic Eden Launchpad or on our website which will be announced in late May
Daemonzs
Daemonzs
Ethereum
The Daemonzs is not just a collection. Getting one of our NFTs will not only make you a Daemonz of the Daemohell, but will also give you the pass to the Daemoverse. With a collection of 6.666 the Daemonzs will enter The Daemoverse, Daemoverse is a place created solely and exclusively for members of our collection. We have great ambitions and therefore, we are building a solid and strong project for our community. Go down to the Daemohell and become Deamonzs. In the roadmap: The ability to stake your NFTs. Doing so will reward you with our tokens which will net you rewards and internal and external whitelist opportunities, products, and giveaways... It will also grant you a spot on the community council. Organize charity donations chosen by the council. Exclusive Daemonzs merchandise release Creation of an ecosystem that revolves around our metaverse, generating interest to attract large investors. Acquisition of land within the metaverse to create our Daemoverse. Exclusive for owners of Daemonzs. And much more...
Sohopunks
Sohopunks
Ethereum
Sohopunks is a collection of 9999 NFTs living on the Ethereum blockchain.  Crafted from over 100 different traits, each unique and algorithm-generated token doubles as a membership card to The Clubhouse, where artists, builders, and web3 enthusiasts relax, connect, and grow.  By purchasing a membership, you will gain access to exclusive drops, IRL and Metaverse experiences, and more to come. Join gatherings with your fellow members over pop-up events around the globe – a private gathering over drinks, a warehouse music party in soho, or a charity donation to support a common cause. In addition to exclusive commercial usage license to their individual holdings, Sohopunks members will gain access to member's only merch shop including exclusive artworks, apparels and more to come. To give back to our community in the future, look forward to free airdrops and Soho DAO: a community driven organization to give back to Sohopunks members. Minting soon: 0.06 ETH June 5, 12am ET Sohopunks.xyz
SAKURA Collection
SAKURA Collection
Other
SAKURA is a surprising collection of 1,500 NFTs by Sakura & Koyomi on Velas Blockchain. Launch scheduled for June 4, 2022. There will be announcements and surprises throughout May 🎁. Don't forget to participate in the current giveaway 🔥 The Velas Blockchain is an Ecosystem of Decentralized products that allow anyone to feel the benefits of blockchain technology. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

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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