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World Cup Qatar 22 NFT Challenge
The most exciting NFT Challenge for the World Cup of Qatar 22 We reimagined the concept of fantasy sports, giving fans the ability to play one-day NFT fantasy sports for real cryptocurrency Prizes. Play against your friends or against everyone, with no season-long commitment. Play daily or season-long fantasy sports and win real money. Our NFT platform is full decentralized and safe to play. 32 Teams 10 NFTs for each country. 32 countries have booked their seats in the tournament, and they will be competing head to head in order to win the most coveted trophy in the sporting world. For the World Cup 2022, there will be a total of 320 unique NFTs on the basis of a limited number of 10 NFTs each for every team which has qualified for the tournament. How to participate in the NFT Challenge: 1 — Select an NFT Ticket Team from one of the 32 available Teams 2 — Buy or earn one of the NFT Ticket Team 3 — Team NFT owners will receive rewards based on Team qualification during the World Cup of Qatar 2022 Challenge Prizes The WINNER(s) receives the total amount in USDN generated from the sale of all the NFTs sold from all the Teams of the Challenge. An additional Prize of 40K SCOneX tokens will be shared with all the NFT Team Winners.
Sport Fans Pass
Sport Fans Pass
Ethereum
⚽ With SportFansPass, you can use NFTs (non-fungible tokens) to connect to your favourite major international championships and sports events from around the world. If you like sports and are interested in NFTs, you can go on an exciting journey with lots of rewards. Your Sport Fans Pass NFT is a rewards pass that gives you everything you need to get more out of watching your favourite tournament.🎯 🏟️ Connect with your favourite sports 💯 Web2 Company and the Doxxed Team 🙌 Community voting rights and companions launch as we go forward. 💵 Exchangeable token air drops Just hold and collect in every game. 🪙 Tokenomics:🪙 🫵 88 % of Tokens for Fans Pass Holders 💧 3% Liquidity 🥳 9% Staking for Project Reinvestment 🗺️ 32 countries are participating in the world's biggest event. Keep your country's pass and keep winning mega airdrops because this is tied to real-world events. The people who have team passes will get tokens for every game they go to. Based on how they performed in the tournament, each country was put into one of four groups and eight bands.🌏 🏆 Passholder Benefits:🏆 ✅ Guaranteed airdrops, Playstation 5 & Bein sports devices. ✅ Free AI Tools, Alpha & Trade Analysis Tools. ✅Play to earn game and mobile app merchandise and other endorsements as we go.
SportFansPass
SportFansPass
Ethereum
SportFansPass enables you to connect with your favorite major international championships and sporting events around the globe through the use of Non-Fungible Tokens (NFTs). Combine your love of sports with your curiosity about NFTs and explore an exciting journey filled with rewards. If you like sports and are interested in NFTs, you can go on an exciting journey with lots of rewards. Your Sport Fans Pass NFT is a rewards pass that gives you everything you need to get more out of watching your favorite tournament.
Block Riders
Block Riders
Ethereum
Block Riders™ is a high-octane multiplayer NFT game that combines the wacky motorsport shenanigans of popular arcade racing games with the player customization and open-world scale of modern sandbox simulators. Built atop the Ethereum blockchain, Block Riders features NFT powered vehicles and characters, with play-to-earn features and racing game modes driven by the native $BLOCKS (ERC20) currency. Players are able to earn the $Blocks token by competing against other players in races and completing daily challenges. With world-class race handling and vehicle physics, Block Riders delivers an exciting and unpredictable racing experience across a variety of traditional tracks, mountain trails, city circuits and open world landscapes. Customize your character with dozens of options to choose from, discover new cosmetics and character upgrades, and build your rep as you blaze through the local underground, unlocking exclusive NFT modifications and earning massive cryptocurrency rewards. The world of Blockston features a diverse variety of biomes and landscapes to test your skills against, offering a complete off-track world to interact with outside of races. Players can freely roam through a handcrafted world, interacting with vendors and city residents, socializing with other in-game players and much more.
NFT Presale (1st round price is 0.07ETH)
1st round of NFT in presale will be 0.07ETH. A collection of 1,111 unique 3D robots. These robots will use in our staking program. These robots character can further use in play to earn metaverse game. Hold Nft's in your metamask wallet and earn rewards. Nft's are more then just a avator. You can earn money by staking Nfts. The holder's of Nft earns crypto coin. We will launch a crypto coin that named is ROBOT with symbol RBT. We will built RBT coin on polygon (Matic) chain. You just hold a Nft in your wallet and earn rewards with the highest 1000% APY. The more you hold Nft's, more your earn money. The income came from NFT's sale will add in RBT coin liquidity. There is no lockup period for staking. Our system sends you coins on daily basis if you hold a nft. If you put it on sale, you can also earn staking reward. You can sell your Nft at any time. Our RBT coin will soon available on all biggest centralized and decentralized exchanges such as pancakeSwap etc..
ChronoGP
ChronoGP
Ethereum
A truly exclusive #NFT collection 1:1 that through our 3D models reproduces in realistic render F1 cars with a very high level of technical details. ChronoGP, TV and WEB magazine leader in the technical analysis of the top serie of Motorsport, is launching ChronoGP NFT first collection. A unique collection including static, dynamic and Augmented Reality NFTs. A unique collection including static, dynamic and Augmented Reality NFTs: ➡️ 987 Static NFT Accurate renderings of Formula1 cars for the 2022/2023 season, placed in virtual environments created by ChronoGP ➡️ 35 Dynamic NFT Loop videos showing features and aerodynamic simulations of Formula1 cars for the 2022/2023 season ➡️ 2 AR NFT Interactive NFTs that enable an immersive and engaging experience with high emotional impact Realistic render F1 cars This collection of NFTs takes you into the heart of Formula 1 cars, in which you will find all the single-seaters of the Formula 1 2022 Championship, or all 20 single-seaters of all the drivers of the 2022 Formula 1 season! The two augmented realities are the car of Formula 1 history, the Ferrari F10 of 2010 by Felipe Massa and the Jaguar of the 24 Hours of Le Mans driven by the legend Sir Stirling Moss!
NFT Formula - 1 Challenge GP Singapore
We reimagined the concept of fantasy sports, giving fans the ability to play one-day NFT fantasy sports for real Cryptocurrency Prizes. Play against your friends or against everyone, with no season-long commitment. Play daily or season-long fantasy sports and win real money. Our NFT Market with secondary market included is full decentralized and safe to play. SportCash One AG, has introduced a sports NFT game based on Formula 1 races. The challenge is that participants buy NFT tickets to predict the winner of the real life race and win prizes accordingly. There will different team NFT tickets – one for each team of the challenge. Tickets can be bought in the Sportcash One NFT marketplace Each ticket will be priced at USD 5. One NFT ticket, La Rossa, will represent Team Ferrari, one NFT ticket, The Bull, will represent Team RedBull and  one NFT ticket, Silver Arrow, represents Team Mercedes
Lords of the Lands
Lords of the Lands
Ethereum
Become a LOL LandLord and Earn monthly rentals in Ethereum! LOL Metaverse is a utility-driven project creating experiences in metaverse while incentivizing its NFT holders!
SportFansNFTs
SportFansNFTs
Ethereum
Sport Fans NFTs is creating a new experience for all you sports fans by combining your passion for major global championship events and NFTs. We are creating unique and memorable NFTs for your national teams along with an impressive rewards system for all fans who are here to get a piece of history in the form of an NFT. Sport Fans NFTs will be releasing a series of NFT Collections representing different sports, sporting events and the participating countries. Our first major project will be the upcoming Qatar World Cup 2022, for which 1000 unique NFTs are being created for every World Cup qualifying country. The first NFT project to connect fans with their favorite sporting events🔥 🌟 Unique, Memorable NFTs 🌟 Guaranteed $300 worth of WFN Tokens 🌟 Chance to win 1000 PlayStation consoles 🌟 Chance to win 1,000 beIN SPORTS devices 🌟 $500k Worth Cash Prizes for 5 Lucky Winners 👇 Hurry up! Whitelist registration closes soon. https://app.sportfansnfts.com/whitelist
CRYPTO BULL NETWORK
CRYPTO BULL NETWORK
Ethereum
GRAB YOUR BULL BY THE HORN. One of the numerous benefits you stand to enjoy by purchasing our NFT is that you will get on our whitelist. This basically means that you will be the first to be notified of new drops and giveaways and pre-sale mints. Practically, it is wise to hurry and join the early birds to mint/claim our NFTs. When you join NFTMAGICS WORLD – by purchasing an NFT, following us on twitter or just joining our DISCORD – you’re instantly part of our Bullish community. A global and interactive community that empowers and supports each other on this exciting journey into Web 3.0. We’re focused on building authentic connections as we delve into the metaverse together. When you purchase any of our NFTs you’re automatically granted the Rights of Ownership; This basically means that you have the licence to private and commercial usage of your newly purchased NFT art as it is now your personal property. You are free to use, sell and customize as you deem fit regardless.
HDN FIGRZ by Seven22
HDN FIGRZ by Seven22
Ethereum
7,022 Icons/ NFT, representing the movers, the shakers, the grinders, the hustlers. 7,022 Icons representing you. You are the collection. Etching History into the Blockchain. The blockchain will provide an indelible record of the beginning of The Movement that will reshape wealth in the minority communities. The Seven22 Project takes us on a compelling journey through digital artwork to explore and showcase the cultural contributions made by Africans and African-American globally. Additionally, the project brings awareness to the struggles and obstacles as well as the progress and victories of early and present-day pioneers. By utilizing blockchain technology we will ensure that our history will be forever remembered. Finally, a future and a solution for wealth creation for the People.
My naughty eggs
My naughty eggs
Polygon
An unmissable collection made up of beings whose intentions in this world are based on business. Its main purpose lies in building a conglomerate of companies dedicated to different industries. These companies will be consolidated both in the metaverse and (Decentraland and Sandbox). As well as physical technology companies. For this reason the eggs potentially seek investors. The project incorporates pieces that have high levels of rarity, mentioning that each work provides a different added value, granting substantial benefits to its owners. The project incorporates pieces that have high levels of rarity, mentioning that each work provides a different added value, granting substantial benefits to its owners. The project incorporates pieces that have high levels of rarity, mentioning that each work provides a different added value, granting substantial benefits to its owners.
Nightcatz
Nightcatz
Ethereum
3,333 Nightcatz. Feed your NightCat and get rewards. Staking for holders.
NFT Sports Challenge F1
WE EMPOWER SPORTS FANS WITH THE BEST NFT’S CHALLENGES We reimagined the concept of fantasy sports, giving fans the ability to play one-day NFT fantasy sports for real cash prizes. Play against your friends or against everyone, with no season-long commitment. Play daily or season-long fantasy sports and win real money. Our NFT platform is full decentralized and safe to play. SportCash One AG, has introduced a sports NFT game based on Belgium GP Formula 1 race. The challenge is that participants buy NFT tickets to predict the winner of the real life race and win prizes accordingly. There will be two different team NFT tickets – one for each team of the challenge. Tickets can be bought in the Sportcash One NFT marketplace from 12th August, 2022, 6 PM CET till 27th August, 6 PM CET. Each ticket will be priced at USD 5. One NFT ticket, La Rossa, will represent Team Ferrari, one NFT ticket, The Bull, will represent Team RedBull and one NFT ticket, Silver Arrow, represents Team Mercedes.
Qatar2022 Metaverse NFT
WELCOME TO the Qatar 2022 Metaverse NFT World Cup Qatar2022 is a World Cup NFT Rewards project. It is created in anticipation of the World Cup for NFT and Animal lovers. It will consist of 9,900 NFT’s (100 teams with 99 players) with Different Jerseys and Flags that represent different Animals from around the World. 50% of all sales are returned to holders directly through the Smart Contract or through staking and competitions. The 2022 FIFA World Cup is scheduled to be the 22nd running of the FIFA World Cup competition, the quadrennial international men's football championship contested by the national teams of the member associations of FIFA. It is scheduled to take place in Qatar from the 21st of November to the 18th of December 2022. Qatar2022 is a Dynamic World Cup Themed NFT Project created by experienced Blockchain developers with a love of Football.

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What are NFT Royalties? Here's What You Need to Know

What are NFT Royalties? Here's What You Need to Know

Non-fungible token (NFT) royalties are an important part of the blockchain ecosystem. Many people don’t know what NFTs are or how they work, but that doesn’t change the fact that these tokens are a major force in the industry. In this article, we’ll look at NFTs, non-fungible token royalty systems, and why you should care about them.


How do NFT royalties work?

NFTs are digital assets that are unique and owned by individuals. The tokens can be used as trading cards, digital art, digital collectibles, and more. NFTs can be traded and exchanged on the blockchain, and they can have unique attributes attached to them. These attributes typically relate to ownership. For example, an artist can create a digital painting and then use a royalty to tie the ownership of the painting to a blockchain token. If someone then buys the digital painting, they also gain the right to own the token. This is how NFT royalties work because the token acts as proof of ownership for that specific painting. You can think of it as owning a share of the painting.


Why are NFT royalties important?

NFT royalties are important because they add value to blockchain ecosystems. Artists and creators can use them to tie their work to blockchain tokens. These tokens can then be traded and used in the marketplace. Not only does this add value to the blockchain ecosystem, but it also helps artists and creators get paid for their work. People can buy tokens that represent their ownership in works of art. This means that artists can get paid when their work is sold. It also means that people get to enjoy art and other digital goods while also receiving tokenized proof of ownership.


How will NFT royalty systems operate in the future?

Because NFTs are digital assets, they can be programmed with certain functions. This means that they can have unique attributes and functions that the owner can use and control. For example, artists can program their digital art tokens to self-destruct once they are sold. This would prevent the token from being sold more than once. Other royalty systems could be programmed to allow for partial ownership. This would be great for allowing investors to participate in an artist’s work without having full ownership of the art itself. There are many ways that NFT royalty systems could operate in the future. They could work to improve the efficiency of the art industry, and they could also be used to protect artists’ rights.


Why You Should Care About NFT Royalties

As we’ve seen, NFT royalties are an important part of the blockchain ecosystem. They can help artists and creators get paid for their work, and they can also be used to protect their rights. If you like art and want to support artists, then you should care about NFT royalties. It’s not just artists that can benefit from these types of tokens, though. Collectors can also enjoy owning unique tokens that represent their ownership to pieces of digital art. That’s why everyone should care about NFT royalties. If you like art at all, then you’ll like these tokens.


Final Words: What is the future of NFT Royalties?

The future of NFT royalties is looking bright. This is because the tokens can be used for more than just art. Artists can create digital goods like paintings, music, books, and other creative works and tie them to blockchain tokens. This will allow them to get paid for their work and to protect their rights. NFTs can also be used for more than just ownership. They can also be used for voting and for governance. These are just a few examples of what NFTs can do in the future. There are many other uses for these tokens, and we can’t wait to see what happens next.

Oct 19, 2022
By NFT-List
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