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Ethereum

Homaland Club
Homaland Club
Ethereum
We unite hamsters from all over the world to fight back the impudent whales! We will equip our hamsters with everything they need: cryptospell and nuts. NFT: 7777 uniquely generated hamsters with over 200+ unique traits! HOLD: Minting these sweet critters makes you a digital pet owner. After all, every holder of Homaland NFT receives various perks and benefits. Community: The most valuable part of HOMALAND, whose goal is to support, develop each other and create a DAO where the voice of each hamster matters. Token: As we create our own ecosystem around the metaverse, we plan to issue a token earned by all of the holders of Homaland NFT. It will be integrated as a currency to buy additional goods such as physical items or in-game currency. Owning a hamster will bring in some NUTS in the future. Owners will also have the right to vote in Homaland and will be able to claim unique items as the metaverse evolves.
☣️ 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
CryptoDoll
CryptoDoll
Ethereum
CryptoDoll is a metaverse brand created by some digital currency and NFT enthusiasts. We have created 10000 unique villains, some of whom have digital currency tattoos. We sincerely hope that crypto OG would like this collection. – Get already bored and frustrated about the current NFT space? – Meaningless community nattering to get so-called “level up.” – Easy-to-cheat friends-invitation mechanism. – There are tons of “bla bla..” rules/guidance/must-to-read in community announcements. – Months of FOMO-asking contributions from hundreds of thousands of community followers competing for just a few thousand of mint whitelist. – There is no transparency in whitelist distribution but only decided by autocratic mods in the community to diamond-hands who genuinely believe in the project or groups of speculators who know best in bribe? – To get rid of all the above, we have no discord, no mod, no whale/chad pre-sale, no FOMO-bag-selling partner, ONLY public mint if you love our artwork. So it is up to you now, would you choose to mint CryptoDoll?
BadBoars
BadBoars
Ethereum
Bad Boars is a collection of 10,000 unique and randomly generated NFTs available on the Ethereum blockchain. Once upon a time, a strange incident happened on the Boars’ home planet. Usual and ordinary morning brought the inhabitants a blinding flash and the subsequent roar from the fall of something huge. The fallen object was a satellite with strange flashing lights and humming onboard computers inside, as well as a large lens for shooting, but for shooting what? Crowds of onlookers began to gather near the previously unseen structure, and after a couple of hours, it would seem that the entire population of the town was already standing around, afraid to come closer. But the Boar’s curiosity finally took over, and the inhabitants, having no idea, launched a mechanism for scanning and sending their portraits to the blockchain. You can see the working result of the research satellite in our collection!
PARALLEELIUM: ETERNAL GARDEN SERIES 1
Welcome to Parallelium World Parallelium series Started in 2020, with an idea of parallel worlds. It began as a collection of artefacts. Patterns, concepts of spaces and study in the material. Paralleelium is an amalgamation of Art and Design, a celebration of the changing nature around us. “Paralleelium illuminates an aspect of quantum theory that states observed subject changes depending on who is performing the observation a scale that encompasses all likely and unlikely outcomes” “Paralleelium” the first series opens to Eternal l Garden that encapsulates all the unusual and wonderful plants, scarce or extinct in the wild. From ground-habiting flora to lush blooms growing into the sky. It is an opportunity to appreciate and marvel at miraculous plants that have grown and still dwell on our planet. Paraleelium Eternal Garden chapter Each hand-drawn NFT created by the MA+KE lab will feature 200 spaces in the paralleelium universe. The initial launch "Eternal Garden chapter will allow up to 150 owners as each room will have different rarity levels. Our desire is to tell stories about lost and forgotten things to engage people in new ideas and create a better understanding of the world around us. We ask all of you to come and explore the paralleelium world with us.
Worintion Lottery
Worintion Lottery
Polygon
The competition is very simple. We have a total of 10,000 NFTs card s. Just buy one or more cards and your chance of winning will be greater. There will be two stages of profit The first stage It will be every week on every Sunday a random person who owns a card from our group will win 20 percent of the value of the weekly sales. the final level When the entire set is sold out, 4 random people will win the grand prize, totaling 550,000 USD When the competition ends, we and our community will create projects and a digital currency fully supported by all partners according to the roadmap shown on the site The competition is very simple. We have a total of 10,000 NFTs cards. Just buy one or more cards and your chance of winning will be greater. There will be two stages of profit The first stage It will be every week on every Sunday a random person who owns a card from our group will win 20 percent of the value of the weekly sales. the final level When the entire set is sold out, 4 random people will win the grand prize, totaling 550,000 USD When the competition ends, we and our community will create projects and a digital currency fully supported by all partners according to the roadmap shown on the site
Bet Placer's Club - Presale
Presale with 40% discount and giveaways has started! Join discord now to follow the latest updates: https://discord.com/invite/UWrUvYEFmc The Bet Placer's Club is a unique NFT collection in which members of the community get exclusive utilities: - Genesis sale consist of 10.000 NFT's high quality SVG formats. - Every collector of a 2D NFT artwork gets a free 3D Avatar! - High resolution Metaverse produced with Unreal Engine - Community Clubhouse ready for VR mass adoption. - "Play to Earn" concept The inspiration for the Bet Placer’s character came from the legendary short squeeze of the GameStop stocks (GME). The Bet Placer’s love their risks to be as high as their rewards and are not afraid of the big hedge funds betting against them. The community vouches for each other and with the smallest investments they will be able to shake up the entire world. Are you ready to cause a revolution in the Metaverse? The Bet Placer’s Club is looking for you!
MINT SERIES - The Animal Kingdom Collection by AQO
About The Animal Kingdom Collection: The Collection was created over 5 years ago by best-selling artist AQOMI. They are one of the largest art collections of animals which has seen millions of views and are now available as an NFT on Opensea. Each animal and colorway varies in rarity. MINT SERIES is the newest release in The Animal Kingdom Collection by AQOMI. The drop will feature 195 exotic bird NFTs in two-tone minty smoke. This colorway will be the 9th release of the collection. It will grant holders exclusive access to branded clothing, prints, and to “The Kingdom”, our private discord, where we have already given away over $250,000 dollars in prizes to our holders. Limited Edition - INVISIBLE SERIES (only 3 pieces) Super Rare - BLUE SERIES (115 pieces) Rare - ORANGE SERIES (179 pieces) Rare - PINK SERIES (193 pieces) Medium - GREEN SERIES (245 pieces) New - YELLOW SERIES (380 pieces) Newest - CREME SERIES (320 pieces) Next - MINT SERIES (195 pieces)
Thank God It's Friyay! 3 Track NFT EP
You can own this history making 3 track NFT EP from Sync Tone, "Thank God It's Friyay!"because there will only be a total of 1,000,000 copies of this NFT EP ever made. You can get in on the first drop. for this #musicnft. The floor price will rise for every drop rewarding early birds. OpenSea allows 100,000 per bundle, and we have 10 bundles. "Thank God It's Friyay!" is the NFT 3 Track EP featuring 12x Grammy Nominee, Joel Kibble. You can enjoy these mixes by legendary DJ Mark Picchiotti (Michael Jackson, Madonna, Beyonce, Sir Elton John, Daft Punk), who has mixed 25 #1 Billboard hit Dance songs. It made history as the first NFT advertisement in Billboard Magazine (or any other major publication) where it shared a page with BTS in Billboard Magazines' June 2021 Pride special issue online and also in the print magazine. It also made history as the first NFT Avatar to chart on any chart. BONUS: Some of the radio advertisements that aired on radio stations to promote the song are included. This is definitely a one-of-a-kind NFT and will never be duplicated. Get yours now!
MADG PUBLIC MINT + GOBLIN HUNT
Mad Goblins (MADG) is a collection of 4,500 unique NFTs. They are stored as ERC-721 tokens on the Ethereum blockchain. All Goblins are unique, but some are rarer than others. All images are securely and permanently stored in IPFS. Holder Privileges Your Goblin NFT will grant you access to Members Only Benefits and Features. Holders get the right to vote on key decisions. Merch & More Our characters are nice, funny and brandable. That's why we will be launching merch, comics and toys! Play-2-Earn We want to develop our Play-2-Earn game in which the owners of goblins can earn money and bonuses. Community Wallet The community wallet will be funded with 20% of all revenue. Each holder can create investment proposals and vote on how to use the funds. GOBLIN HUNT During this event mint will have a special price of 0.02 ETH. If you are lucky and find a Super Rare Goblin, you win 30% of all mint proceeds made during this event. If there are more winners, the prize will be split equally.
Moon Birds Non Pixelated
A collection of 5,000 utility-enabled PFPs built on ERC 721A Smart Contract with richly diverse and unique non-pixelated traits. What's More, each bird unlocks additional eligibility to win an Official Moon Birds NFT, For more details check our roadmap, Minting @ 0.01 ETH, Launching on 11th May 2022, 10:00 PM UTC. We love moon birds, We love charity, So we created an inspired and derived collection of 5000 Non-Pixelated Moon Birds as tribute and honor to Official Moon Birds NFT and to provide a chance to own one to people who truly admire and love Moon Birds. We want to form a true and genuine community that all love moon birds and charity.
Tiger Toonz Mint Day
Tiger Toonz Mint Day
Ethereum
Tiger Toonz is a collection of 3,333 randomly generated NFTs on the Ethereum Blockchain. Each Tiger Toonz is comprised of unique eyes, mouth, body type, clothing, headgear and a hand item. Our main mission is to revolutionise NFT gaming with a unique gamified experience involving the genesis Tiger Toonz and its future companions. We achieve this by giving Tiger Toonz holders the ability to earn $STEAK, the catalyst to enhance Pet Toonz (companion NFTs coming in Phase 2). But that’s not all! We will be marketing the Tiger Toonz brand in full force by acquiring lands across other metaverses to host global events & more. As for our marketing strategy beyond the metaverse, we will be creating exclusive physical merchandise, IRL (in real life) events, billboard advertising and much more! Are you ready to enter the Tiger’s Lair?
Pixel Guys 24/7
Pixel Guys 24/7
Polygon
Pixel Guys 24/7 Is an Album made by "WildCard" a team of people who make NFT's mainly about Collections in the Pixel Genre. The WildCard Team is a smalll team of people who gather together and work together on NFT's hoping to be sold. We are new and small so it would be lovely if you could help us. We are built on hopes of people liking our projects but we have sold on other sites for example Momint. OpenSea is one of the largest markets so we decided to move our art there. We hope you can help us out and help us grow. We want to become more than just a small Team. Part of the Money we are receiving we are donating to the Ukranian War. Hundreds of our dollars are going toward there. We want to help with other multiple things like charity and friends. We are aiming for great thrive and the only ones who can help are you. So help us out. Find our website (that is made on google sites!) on the event. We cannot afford to pay for a domain even though it's only $20 which we do have but cannot risk using just because of how small we are. If you check out our art on Opensea you will realize we are slowly dropping our prices down just in case someone can finally realize the value of our art and how easily you can buy them.
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
Ethopia Online | Play-To-Earn MMORPG (invite-comp)
Ethopia Online (Ethopia) is a next generation Play to Earn Massively Multiplayer Online RPG (MMORPG) led by an experienced team of game developers from the BUAS, Breda University of Applied Sciences, located in the Netherland. With RuneScape and Zelda Breath of the Wild as great inspiration, we made our own game during our school period at the BUAS, containing recognizable elements of the games mentioned above. The BUAS is the official academic partner of Unreal Engine, which gave us the opportunity to use the best knowledge and game developing software available. ETHOPIA ONLINE Ethopia is a medieval fantasy MMORPG game that takes you back in time to discover sites of outstanding beauty and rich history, captivating and cradled by many legends. The world of Ethopia is divided into different kingdoms, regions, and cities. A rich story and exciting adventure wait for those whose interests are more intellectual. Find the lost stone tablets, complete quests, train your skills, craft weapons and armour, fight enemies, discover hidden treasures, join a guild, and collect valuable artifacts. Players interact with each other through trading, chatting, or by participating in guilds, mini-games and other activities, some of which are competitive or combative in nature, while others require cooperative or collaborative play. The game features over 100 dungeons and temples, 400 quests, and 75 side missions. Whether you’re hanging out with friends, embarking on dangerous quests, training your skills to be the best, chasing the world’s strongest magic spells or simply earn passive income by playing, there is always something to work on. To ensure that the Ethopia Online discord community gets a wider reach, we are starting an invite giveaway competition. https://discord.gg/ethopia-online >> #invite-competition channel The top 3 community members who have invited the most people on May 15 will receive a free Ethopia Online Chest from us! Make sure you create your own invite link! We have also a live Giveaway and more events coming!

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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