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Magic Eden

Soul Mysterio
Soul Mysterio
Solana
Scientists discovered some new life, this new habitat was discovered in 2014. After doing research in 2017 this habitat began to be reported with the aim that we old residents can live together because they are inhabitants of the earth like us. That time we were not aware and sometimes chose to ignore it. But the peak of its popularity occurred now in 2022 when several photos of new habitats consisting of 3 tribes with a total of 333 inhabitants were revealed. From the photos they have various expressions and several appearances, just like us there are many types of ethnic that differ in appearance. Don't you wanna see them? Let's get to know them first! UTILITY - Soul Mysterio’s Holder will receive 30% of the mint revenue and it will be decided by the community. - Free Whitelist Collab with other projects. - Holder will gain access to our DAO by holding one. - Holder will get Crypto & NFT Signal VIP. - Community Event Project.
Crypto Bulls
Crypto Bulls
Solana
Hi! We are glad to present you our project "Crypto Bulls"! These are really angry and cool guys in pixel style. There are 555 unique bulls in total, with their own unique accessories. The project is based on the Solan blockchain. Perhaps you want to know exactly what advantages our bulls give? Firstly, it is a unique pixel art, and secondly, after the mint, the bulls will allow holders to get access to a closed telegram chat, where content dedicated to the world of NFT, its development and capabilities will be created. Thirdly, holding the bulls will allow you to get a token that will give you the opportunity to use stacking (we are currently actively working on this). One of the main objectives of our project is the creation of a friendly community and its further development. Don't miss the opportunity to join us and learn more!
Atama FREE MINT
Atama FREE MINT
Solana
WHAT IS ATAMA NFT COLLECTION’S PURPOSE? Atama is a collection of 2888 Atama NFT’s – unique digital cursed heads residing on the Solana Blockchain. Your Atama doubles as a citizenship which grants access to the Norowareta Uchu staking system to earn 10 $NOROI (or more depends on your Atama Rank) per day. Each Atama starts with Yonkyu rank, a ranking system that goes higher as you spend $NOROI to reach a higher rank. (higher rarity = higher yield) STORY BEHIND THE NOROWARETA UCHU In Norowareta Uchu, all living beings emanate an energy called Cursed Energy, which arises from negative emotions that naturally flow throughout the head. Normal creatures cannot control this flow in their heads. as a result, they continuously lose Cursed Energy that gives birth to Atama, a race of spiritual beings whose primary desire is to bring harm to all creatures. These are known as Norowareta Atama "The Cursed Heads". Sentoki are people who control the flow of Cursed Energy in their entire bodies which allows them to limit its release. High-ranking Sentoki and Atama can refine this energy and use it to perform Cursed Techniques, which tend to be unique to the user or their family and Skin Colors. Each Sentoki (also Majutsu-Shi & Akachan if one of the ancestors is an Sentoki) have a rank to assess their skill level ascending from Rank 4 to Special Rank. Each Sentoki (also Majutsu-Shi & Akachan) generally start at Rank 4 upon joining the Noroi no Akademi, but this depends on experience and minting process. Atama and Akachan if one of the ancestors is an Atama are ranked on a similar scale but not exact. The higher-ups can be particular when it comes to ranking Atama. The distinct difference between a rank 1 and a rank 2 Atama is whether or not it is capable of using Norowareta Tekunikku “Cursed Techniques” 呪われたテクニック. Each Sentoki (also Majutsu-Shi & Akachan) are expected to take on missions involving Atama of the same level. A Rank 2 Sentoki (also Majutsu-Shi & Akachan) should be able to defeat a Rank 2 Atama because their skill level is closer to the strength of a Rank 1 Atama. Norowareta Dogu are also categorized from rank 1 to Special based on power and potency. The higher the grade, the greater advantage in battle. All Special Rank Norowareta Dogu are imbued with a Norowareta Tekunikku. STAKING: Your Characters can be staked and earn you $JUMON and $NOROI every day. The higher the rank, the higher the yield per day. We want to call this our Gamified Platform, the start of all of the utilities you will benefit from shortly. ESCROW STAKING: When staked, the NFT will be placed in an escrow account and removed from your wallet. We have taken this approach to remain competitive in the market and for the streamline the revenue-sharing process. - When you un-stake, the NFT will be returned to your wallet. - While your NFT is staked, you can harvest $NOROI/$JUMON at any time. STAKING YIELD: You will be able to yield $NOROI/$JUMON daily but simply holding your Norowareta Uchu NFTs. Alternatively, you can play The Norowareta Uchu Game for chance to earn additional $NOROI/$JUMON! The Staking Yield is summarized as follows: $JUMON & $NOROI YIELD PER DAY: - Yonkyu = 10 $JUMON / $NOROI per day yield - Sankyu = 15 $JUMON / $NOROI per day yield - Nikyu = 20 $JUMON / $NOROI per day yield - Ikkyu = 25 $JUMON / $NOROI per day yield - Tokkyu = 30 $JUMON / $NOROI per day yield Owning additional Norowareta Uchu NFTs allows you to build a Colony. This is important for the Revenue-Sharing aspect of the project and further explained below. STAKING COLONIES (REVENUE-SHARING): The size of your colony (amount of NFTs staked) will determine the Revenue-Sharing profit percentage derived from the Norowareta Uchu-verse. THE NIKYU COLONY (5 TO 14 NOROWARETA UCHU NFTS): A Colony of 5 to 14 Norowareta Uchu NFTs will get 5% of The Norowareta Uchu Marketplace's profits. This will be distributed quarterly to the holder's wallet address. The Norowareta Uchu NFTs must be stak
Sentoki FREE MINT
Sentoki FREE MINT
Solana
WHAT IS SENTOKI NFT COLLECTION’S PURPOSE? Sentoki is a collection of 2888 Sentoki NFT’s – unique digital fighters of Curses residing on the Solana Blockchain. Your Sentoki doubles as a citizenship which grants access to the Norowareta Uchu staking system to earn 10 $JUMON (or more depends on your Sentoki Rank) per day. Each Sentoki starts with Yonkyu rank, a ranking system that goes higher as you spend $JUMON to reach a higher rank. (higher rarity = higher yield) STORY BEHIND THE NOROWARETA UCHU In Norowareta Uchu, all living beings emanate an energy called Cursed Energy, which arises from negative emotions that naturally flow throughout the head. Normal creatures cannot control this flow in their heads. as a result, they continuously lose Cursed Energy that gives birth to Atama, a race of spiritual beings whose primary desire is to bring harm to all creatures. These are known as Norowareta Atama "The Cursed Heads". Sentoki are people who control the flow of Cursed Energy in their entire bodies which allows them to limit its release. High-ranking Sentoki and Atama can refine this energy and use it to perform Cursed Techniques, which tend to be unique to the user or their family and Skin Colors. Each Sentoki (also Majutsu-Shi & Akachan if one of the ancestors is an Sentoki) have a rank to assess their skill level ascending from Rank 4 to Special Rank. Each Sentoki (also Majutsu-Shi & Akachan) generally start at Rank 4 upon joining the Noroi no Akademi, but this depends on experience and minting process. Atama and Akachan if one of the ancestors is an Atama are ranked on a similar scale but not exact. The higher-ups can be particular when it comes to ranking Atama. The distinct difference between a rank 1 and a rank 2 Atama is whether or not it is capable of using Norowareta Tekunikku “Cursed Techniques” 呪われたテクニック. Each Sentoki (also Majutsu-Shi & Akachan) are expected to take on missions involving Atama of the same level. A Rank 2 Sentoki (also Majutsu-Shi & Akachan) should be able to defeat a Rank 2 Atama because their skill level is closer to the strength of a Rank 1 Atama. Norowareta Dogu are also categorized from rank 1 to Special based on power and potency. The higher the grade, the greater advantage in battle. All Special Rank Norowareta Dogu are imbued with a Norowareta Tekunikku. FOR MORE INFO & DETAILS, PLEASE CHECK OUR WHITEPAPER: https://norowareta-uchu.gitbook.io/whitepaper/
KinkySol
KinkySol
Solana
KinkySol is a NFT collection of 500 pieces generated by cool and artistically attributes in Solana Blockchain. 😈Why don't u look at the project covered by kinks, sexiness and of course a little bit lust. KinkySol is the Solana blockchain project that takes NSFW NFT art. Oficially launches on 20th May.Allowing to users to remember their kinks,desires and lust. The KinkySol project will be minted 2 times. 1st one is for whitelist, 2nd one is for all.At the point of minting, KinkySol is created with lingeries or sexy costumes.Head styles, colors, background, tattoos will be randomized at the time of minting. It makes every piece of Kink unique. Thousand Kinks will be available to mint. Kinks can be purchased with Phantom wallet. About KinkySol KinkySol is the sexiest collection of NFTs for adults. Every costume has their own unique kinks. This collection is created by full of sexiness and lust, together, let’s make kinks great again.
DegenSOL NFT
DegenSOL NFT
Solana
DegenSOL NFT is a project based on the Japanese comic style “manga”. Holders will get 44% of casino earnings and 50% of royalties! The more you hold the more percent you get.
Cyberpunk Koala NFT
Cyberpunk Koala NFT
Solana
The Cyberpunk Koala NFT Collection of 10,000 original and original NFTs will arrive in Solana on May 15th! Ernest - wild, narcissistic and invincible - the destroyer of worlds. A killer who will find a way out of any situation and always comes from the water. He intimidates his enemies into unconsciousness. This is not quite an ordinary hero, everyone should get . Each Cyberpunk Koala NFT is unique. Find the rarest ones among 10,000 possible combinations. There are also secret components such as tattoos, jewelry and more. FEATURES 10,000 unique Cyberpunk Koala Each koala is automatically adopted by crossing over 200 different components. Community wallet We will create a shared wallet to fund the best community projects. Truly yours You can do everything you want with your Cyberpunk Koala NFT. Even resell them!
Cat on Blockchain Diamond
The Diamond Army used by Cats during the “Blockchain War” on June 23, 2048: On June 23, 2048, Cats have conquered the World. This is the special Diamond Army used by lovely Cats during the "Blockchain War". As you know, for many centuries Cats had planned the invasion of the Earth, because Humans (driven by feelings such as selfishness, wickedness, a thirst for power, and a desire for money) didn't realize they were destroying themselves and the entire planet. For this reason, the adorable Cats decided to take control, using their great weapon of tenderness and love. So, they started the great invasion, called the "Blockchain War", a war fought without weapons, using a technology already invented by men: the blockchain. Now the cats are here, they have the control of the Earth and they take care of the humans, with whom they live together in peace and harmony...
Forest Industry
Forest Industry
Solana
Forest Industry is a collection of 555 animated cards on the Solana blockchain. All cards will be transferred to the upcoming game to bring it's own daily income and show their secrets! PHASE ONE📌 •Creation of a collection of 333 pieces on the Solana Blockchain.✅ •Secondary market Approval (Magic Eden, Solsea).✅ •Launch Website.✅ •Mint✅ •Maintaining the price on the secondary market and holding promotions for the distribution of Sol from the percentage of Royalties in our official Twitter.✅ •Starting an NFT game development.✅ PHASE TWO📌 •Distribute the time period for the following collections to maintain balance and price.✅ •Creating a Whitelist and privileges for it. •Creating 2 waves at 555 NFT. •Mint •Release of 5 collections for a total of 3333 NFTs •Creation of p2e game where purchased NFTs will be used. •Creation of the Onyx token as a game currency. •Game launch.
Murky Gators
Murky Gators
Solana
Our mission is to create a community of Murky Gators who work together and help one another, while sharing the joy that this little EduGator is able to bring to so many. Our vision is to provide an educational resource hub for everyone to learn, listen, and discover content for the Web3 community. We understand the countless hours you as an artist, collector, and project creator put in to find relevant resources to learn about web3.0 and NFTs. Our resource educational hub is designed to provide quality information to you, so you don't spend time searching on Google and have more time learning. Find the best information available on organic marketing, newbie guides, tools, websites, and more. All this material will be organized so that it will be easily accessible to holders and understandable for the new crypto user.
Meta Robots
Meta Robots
Solana
Meta Robots is a collection of 333 metaverse residents on Solana blockchain. The whole metaverse will consist of 3 Meta Robots waves of 333 robots each. The last special robot will be drawn among holders. Stake your Meta Robots to to earn daily income in our tokens HMB (Heavy Metal Bucks). The tokens will be used to take part in private mints, airdrops and much more. 100,000 HMB tokens were minted. They will be used for private mints, as well as for participation in the project future. You can earn HMB by staking your Meta Robots on win some amount in giveaways and airdrops. Roadmap: Phase I • Official Twitter ana Discord launch • Website launch • Creation of HMB token • First 333 wave mint Phase II • Launch staking for the first collection • Airdrops and giveaways for token holders • Creation of whitelist for the second collection Phase III • Second collection staking • Private mint of 100 items only for HMB • Third wave of 333 NFTs mint • Drawing of the thousandth special robot among the HMB holders
Bored Bears Club
Bored Bears Club
Solana
777 Unique Bored Bears algorytmically generated amazed by Solana Blockchain Every Bored Bear Will be minted for 0.55 SOL Bored Bears are going to be minted the 08/05 at 20:00 GMT We've decided to remove the Whitelist so everyone can be equal 20% of sales will be airdropped to all of the holders!!! 50% of sales will be reinvested on marketing and plot acquisitons on Metaverse!!! 10% of sales will be donated to mental charity, due to the damage of the pandemic!!! ROADMAP 1. Social Media Development At this stage we will do the marketing to bring Bored Bears to as many buyers as possible. We will use multiple platforms to carry out the digital marketing. 2. Launch Our collection will be listed on multiple marketplaces, such as Magic Eden, Solanart, Solsea and Digital Eyes and the Dapp are going to be available. 3. Solana Airdrop To every holders of the 20% of the total amount of the minting. 4. Collection Remarketing and Floor Sweeps All of this come directly from Mint Founds To Bring Value and Create Even More Exlusivity to the Community 5. Adquisitions on multiple Metaverses We’re going to buy parcels on many metaverses like Decentraland, Sandbox and NexEarth. Our NFTs are going to be exposed on many metaverses.
Lucky Numbers Launch
Lucky Numbers Launch
Solana
.An original and unique idea in the NFT space This is the first kind of NFT project that combines your lucky number with an exceptional lucky charm to bring you protection, fortune, and good luck. Designed by $SLCAT team and powered by Solana, the future of NFTs. It’s a collection of 1001 unique NFTs. 901 will be available to mint on 07/05/2022. Mint one for you, it will unleash your luck and let your friends and family try their chance. we hope that will bring you wealth and prosperity The concept is endless and timeless. Even after a century, whether in real life or the Metaverse, you will find someone who wants one of these NFTs. This is the original project. It’s tradable to infinity and beyond. At the moment, we are the only ones, and we will stay the first ones forever. An ounce of luck is better than a pound of wisdom.
PiratesXnavy OPEN BETA 0.1.7
PXN is a collection of 777 Mixed NFTs on the Solana Blockchain with unprecedented community mechanics(Your private Space Inside PXN Discord Server). 2 communities merged together to create a clashing environment. Join as a beta tester and enjoy exclusive access to a private crew and win huge welcome bonuses along with a chance to win lifetime discount passes.
GrosPifs mint date !
GrosPifs mint date !
Solana
Welcome to GrosPifs, the French NFTs totally Flair-play club GrosPifs is a collection of 10,000 NFTs unique digital collectibles living on the Solana blockchain. Grab one GrosPifs and keep it quietly warm in your wallet, it will open to you the doors of the GrosPifs Club a super flair-play spot… GrosPifs Club: As soon as the club will open, GrosPifs owner can participate in a free and daily lottery with $SOL to be won! A totally flair-play game. Other services will be developed later, a museum and an NFT gallery, a car racing game, a treasure hunt, a parliament, a bar. Our ideas are limitless and the possibilities are endless. Tokenomics: An economic system once again Flair-play. No whitelist same price for everyone. The sale of GrosPifs will allow us to create the foundations of our Club. Revenue Breakdown: 20% to feed the team 40% to create new games and services 10% for marketing 30% for club game rewards Secondary market royalties: 7.5% Discord is full of bot and scam so no Discord here! Visit our website for More info: https://grospifs.com/ https://twitter.com/GrosPifs GrosPifs Team

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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