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OpenSea

Shiba Country Club Minting on the 19th of June on
Shiba Country Club is A Pixelated Shiba NFT ART Based on Transparency and Mooning Mindset, Lead by an Honest Team and a community that could almost be a Real Family. Driven On the Goal of Success and Ambitions of creating a Polygon Leading NFT ART. It's a 5000 Supply Art with plenty of good traits and Utilities, and even some of the best Roadmaps Out there. Our Utilities are based on a great mix of all, whether it was Metaverse or Staking or even a P2E Game of our own, And also offering most special Merch that you will never find in any other Project. Shiba Country Club is Minting on 19th of June on a special day for us > Father's Day. And The mint will only cost 7 MATIC per mint, which is as low as $4-5 and we decided on that price to make it fair and realistic. The Mint will be 3,000 NFTs, the other 2,000 will be pre-minted for giveaways, airdrops (Free Mints Whitelist), and the team etc....
YOUPHORIA
YOUPHORIA
Ethereum
A Metaverse ecosystem where hedonism and investment blend into a unique space of opportunities! Youphoria is a platform for celebs and influencers to join their communities and spend some intimate time together. 6.969 unique 3D metaverse avatars partying on the Ethereum blockchain. This is our place. Youphoria is the name of the HUB for all stars and celebrities to include their own NFT avatars and provide a Metaverse platform for their communities. Jill Hardener’s NFT collection being the first one to join the ecosystem to bring to life her ambitions of building a community around her creative and business passions using NFT technology and their smart contract capabilities. By owning a Youphoria NFT, you immediately become a shareholder of the Youphoria-DAO, gain access to the "Youphoria City" Metaverse and all other roadmap benefits.
Ostrich Squad
Ostrich Squad
Ethereum
A flourishing and inclusive community which raises awareness about Mental Health and promotes education, conversation, and support for everyone The project is aimed towards improving Mental Health awareness through metaverse communities and partnerships with leading Mental Health organisations Mental Health awareness has improved considerably over the past few years however communities have paid a lot of attention to raising awareness but fallen short on what to do about it It should not stop at simply promoting awareness as plans need to be made and steps need to be taken and this project aims to support those next steps ​Like many of us Ostriches bury their head in the sand and we need to help each to stop doing the same ourselves. We want to give people the option to use their Ostriches as a symbol that they don't want to bury their heads in the sand as they move around the Metaverse
The Fluffle NFTs
The Fluffle NFTs
Polygon
The Fluffles is the Official Collection of The Fluffle Land. Supply: 2,222 Mint Price : For Whitelist: 8 Matic For Public Price: 16 Matic Why you don't want to miss this collection? - Verified Smart Contract (0x1497b4B1CFaA967162ac57b8A6A0b4c3A9d47592) - Team Transparency - Injected a Lowest Gas Fee for every transaction - Legal Solidity Contract - Has Reveal Phase - 2 Phase Sales - Featured on large Platforms - Has Utilities - Team Transparency - RoadMap - Charity Fluffle land is a NFT metaverse and home of fluffles, bunnies, rabbits, and bun buns. Fluffle official is the main collection of fluffle land metaverse that has a 2,222 supply living in polygon blockchain. Our Project has a Roadmap, Website, Utility, Team Transparency, Secured and Verified Smart Contract and Big Social Media Platforms.
Crazy Stuffed Bunnies
Crazy Stuffed Bunnies
Ethereum
Much more than an NFT collection belonging to the Ethereum Blockchain.Our 10,000 crazy stuffed bunnies are made up of a wide variety of colors, styles, accessories and types that set many apart from each other.In addition, each CSB Holder will have access to the members area and will earn 1000 CSB Coins to use within the site and boost their publications and profiles on social networks and do the same with the other holders' social networks. Thus generating an impulse network with 10,000 members.A crazy stuffed bunnie might not pose any threat, but try to tackle 10k and you'll see the difference!Visit www.crazystuffedbunnies.online to learn more. How does the project work? Owners of NFTs will be able to post their profile to be followed or posts to be retweeted in exchange for their CSB Coins! What does each owner of an NFT in the collection get? User access to the site and 1000 CSB Coins that can be used to boost your social media! Can I earn more CSB Coins? Yes, just like, follow or retweet other crazy stuffed bunnies' posts and you'll earn the relative CSB Coins! What social networks can I boost? The first social network that we will enable the boost will be twitter. But we intend to expand to instagram and facebook!
Pig Boss Club
Pig Boss Club
Ethereum
What is Pig Boss Club? Our team has been working in crypto sphere since 2015. At that moment we had no idea that our temporary hobby will grow into a serious business and will unite like-minded people into a great team! All these years we’ve been analyzing the crypto market and predicting the potential rise of tokens’ prices. We were extremely happy to do something we were passionate about, to develop our skills in the field, to gain new experience etc. Even at that time we knew that this was the future. Our team visited multiple conferences in different European countries to keep up with the latest crypto trends. Obviously, it wasn’t always easy, but it never stopped us from doing what we loved to do. We were extremely inspired to evolve! In the spring 2020 we started to immerse in NFT space. The main reason was quite simple: it was very similar to our main activity. The art will always be valuable and will only increase in value with time. But the art built in blockchain industry was something unbelievable! So we decided to take a little break to see how the world is gonna treat this new trend. Before the end of the august we realized that people become more and more interested in NFT every day! By that time, we knew for sure that we wanted to make our own brand and unique NFT token. We didn’t want to hurry! For a long period of time we were selecting stuff, including painters, marketers, managers etc. And after 8 months of preparation, we are ready to start! 2. What is Pig Boss Club NFT collection PBC is a collection of 5555 unique Pig Boss Club tokens on the Ethereum blockchain. Since September 2021 till this day, we have been working on our product, PBC is not just a one-time NFTs, it is something more. Our plans include: 1. The release of the Genesis 2D collection, which will be our first product. Later the Genesis collection will be kind of a key to go through all the stages of our roadmap and build a brand, whose owner you will also be! 2. After the mint there will be an opportunity for all Genesis 2D holders to send their tokens for staking, in the further paragraphs we will make it clear why we are making our own crypto currency. 3. Genesis 2D holders will get access to mint 3D PBC, NFT data will be in demand in our own game developed on the ETH blockchain. 4. Listing of PBCT and presentation of the game (you can find out more information in our discord server in the “Roadmap” section). 3. Delivery plan: Supply:5555 unique tokens (our 2D collection contains more than 1,000 layers, which is at least 3 times more than the standard number of 5555 tokens, due to this, each NFT will be as different as possible from the other) Presale: We plan to distribute 1500 whitelists, community users who have received an invitation to a closed presale will be able to mint up to 3 tokens per wallet. The remaining tokens will be available later on a public sale. Mint and royalty: The price of the token on the closed sale will be 0.055 ETH, we have made the minimum price for our users to give everyone the opportunity to get one Pig Boss. Royalty on the trading floor will be set at 10%. The proceeds from the royalty will go towards our next brand promotions, brand scaling, and giveaways for PBC holders! Our team is looking forward to when we put all these points together. The goal of our team is to build a high-quality, multi-faceted PBC brand which will be respectable in this industry, perform large-scale work, give users quality, and also provide our investors with passive income that can be converted in various, non-standard ways.
OMNIBirds
OMNIBirds
Ethereum
OMNIBird NFTs are a collection of non-fungible tokens, which we at OMNI Money are offering for purchase to help fund the delivery of our personal finance management application! The NFT mint will produce 9,999 unique tokens featuring our UK trademarked logo and will come with utility perks to include free lifetime membership of the OMNI Money application, a share in the companies future success, rewards in USDC & much more to come! The OMNI Project We are releasing our OMNIBird collection in order to raise funds for the continued development of OMNI Money, with the aim to become the best personal finance application in the world. It has become the norm for crowdfunding platforms to require businesses to have a significant percentage of their target raise guaranteed prior to granting access to their platform. OMNI likes to do things differently. This is why we are undertaking the OMNIBird sale. We are creating a true crowdfunding campaign, the first personal finance application to do so. We offer 9,999 NFTs for sale in return for some truly exciting perks.
Council of Elves
Council of Elves
Ethereum
2000 hand drawn, unique NFTs, 1900 Mushrooms and 1000 Elves The Council of Elves is a fully decentralised procedurally generated NFT series of 2000 NFTs, Mushrooms and Elves, where the creators yield control to a community, and allow members of the community to become sole stakeholders. The potential for growth is immense, and the direction is determined by the Elves. Council of Elves was created as a germination space within the NFT scene. There are countless projects popping up every day, but they flame out as fast as they come. For a project to sustain itself, it needs a strong community, and ample room for that community to define itself. Our community-first approach will be unique in the NFT space. This is your chance to be an integral part of a project and contribute to its future! The initial distribution is 2,000 NFTs, of which 1,900 are Mushrooms and 100 are Elves. When the initial distribution is over, the Elves have a number of decisions to make. Their first decision concerns the future of the drop. They can either continue the sale of Mushroom NFTs for ETH, in which case the entire income will end up in the Community Contract, OR Continue the sale for $spore, which is a token emitted by the mushrooms, so original mushroom owners can mint more. The elves can also vote to stop the sale at any point, and stop the $spore emission indefinitely. The collection tops out at 5,000 NFTs. All secondary sale commission (and if the Elves decide to continue the drop for ETH, all of the ETH that comes in after initial distribution as well) is going to the Community Contract. Each Elf holder can withdraw ETH from the Community Contract at any point for themselves and use it any way they want, in alignment with our core values and vision.
Thunderwave Cave Trainer Club
The Thunderwave Cave Trainers Club is the first exclusive NFT Pokemon & '90s Pop Culture Community. Holding one of our NFTs grants you access to our exclusive clubs where we run online events for Monthly Box Breaks, Games & Quiz's with top-top prizes. At every milestone, we even break multiple WOTC Box's and the packs opened live for random members. We are talking 5k, 10k worth of Pokemon cards, and prizes all exclusive to our members. We are also working towards our metaverse goals and our first Play to Earn Game. NFTS Our NFT is based on the original Pokemon game sprite, as we grow so will your NFT, members will receive evolution spray which will generate the next evolution of your NFT, in its final form it will be ready to become your character in our Play to Earn Game. More info on our Socials & Discord
Meta Ape Gang
Meta Ape Gang
Ethereum
6666 Meta Ape Gangs are storming the Ethereum Blockchain, randomly generated from 200 traits They are ERC-721 Tokens and their mint price : TBA (+ Gaz fee) Launch date : TBA Unfortunately for the world, only 6666 investors will be able to claim their very own Meta ape Gang in Metaverse. Once we conquer the Metaverse we will lunch our first ever cryptocurrency ($MAG Coin) each MAG holder will receive 100 $MAG Coin on their wallet . please follow #deleted-channel and stay tuned. We have just started for the first time in NFT community that we can achieve our targeted Floor price after minting announced ,so stay tuned... After our minting sales done, our MAGs Are ready to conquer the universe and Metaverse. So what are you waiting for keep invite your friends and family to the one and only NFT ever community. JOIN META APE GANG NOW!!!
MetaGreta
MetaGreta
Ethereum
We wanted more with our NFTs and had an idea that we should try to encourage people to give more to important organizations. Therefore, to get “signed” into our whitelist you are encouraged to donate a optional small contribution to the eco-friendly organization Greenpeace. We are not associated with Greta Thunberg or Greenpeace, but we like the idea of 6000 unique MetaGreta’s in the metaverse protecting the earth, encouraging and being a character with different traits. Greenpeace as organization is chosen for it views on climate change, deforestation, overfishing, commercial whaling, genetic engineering, and anti-nuclear issues. We will also each month donate to Greenpeace through royalties earned by minted and sold NFT’s . Technical details: Our NFT’s are on the Ethereum blockchain as a unique, non-fungible token (NFT) made up out of a unique combination of traits and underlying “DNAs”.
Monster Racing League
Monster Racing League
Polygon
Dutch Auction start price 0.5 Eth. Join early for a chance to get on the discounted allowlist! Monster Racing League is an exciting, upcoming play-and-earn multiplayer racing game that combines skill and strategy. In Monster Racing League, the monster handles the driving while you strategically equip abilities and consumables for use during the race to suit your play style. While racing, you choose the perfect time to use the abilities such as weapons, shields, smoke, and boost cards to defeat your opponents. Racing in Monster Racing League is just one part of the gaming experience. Using our proprietary chromosomal breeding system, you will be able to breed 2 monsters to create a new monster with different speed, skill, smart stats, and different colors and visual traits. Will you be breeding for the most attractive monster? or to get the Ultimate racing champion? The game itself is already far along in development and is due for full market release in Q3 2022! Interested in seeing some real game footage? Check out the website and litepaper for the launch video and real in-game footage! The game is so close to being complete that there is a full demo version of the game available on our Discord which you can join here https://discord.gg/monsterracingleague Available to mint in June are 10,000 containers, each with everything you need to start playing Monster Racing League and then some. Not only does it give you the monster and car, but it gives you extras to give you a headstart in the game to defeat the opposition! Each container comes with an Origin Monster and car, 1-2 Abilities such as missile, shield, smoke, etc. A boost pack giving you either 20, 50, or 100 consumable cards that give you an edge in a race, a custom vehicle cosmetic to change the appearance of your car with a chance to get 1 of 95 Epic cosmetics or 1 of 5 Legendary cosmetics and a chance to get 1 of only 20 ultra-rare tracks that give you passive rewards in races. Monster Racing League has been designed to be fun first, so you’ll want to play it even if you don’t want to earn! Coming before the full game launch will be the release of the utility token for the game, breeding, renting, and a marketplace which are all currently in development. Want to get on the limited allowlist? Join our Discord to find out more.
OrigamiNFT
OrigamiNFT
Ethereum
Origami NFT Origami is a utility-focused NFT collection taking advantage of the endless opportunities in the crypto space. The concept is to build a community wallet where the funds are used to bring various benefits to its contributors, acting like a whale in the market. The main focus is to make financial profits through minting, bidding low, buying the dips, getting airdrops, and more. Once the wallet grows, holders will be able to burn their origami against Ξ (ETH) Holding an Origami will also give you access to a range of utilities: - Spy Alpha groups - Access tools - Profit-sharing - 0% interest NFT loans - Experimental working groups - And more You can find all the informations needed in the white paper on medium about how the project will works. On the Discord, the community are already growing up and can help for any kind of questions.
WeAreEqual NFT
WeAreEqual NFT
Polygon
WeAreEqual is an NFT trying to make the world a better place. We are trying to promote Equality, Acceptance and Anti-Bullying through our unique 3D art. Our target is to build a strong community that fights together for our rights and for the values that our world should be represented by. Our royalties money will go on good cause organisations that are supporting our cause. We have already signed partnerships with other upcoming NFT projects and we are looking forward to expand our community as much as possible in order to promote our cause to the whole world. We truly believe in ourselves and our opinions because Equality and Acceptance are not negotiable. Our art is unique and we are trying to help the audience to find at least one of our character in which he/she feels represented by.
Wicked Pirate Bone Crew
The Wicked Pirate Bone Crew is a collection of 9,999 mischievous pirates cruising the oceans of the Ethereum blockhain. We are a community-driven brand for voyagers and explorers ✨. Built with utility & community at the foundation, it is our mission to facilitate exploration into uncharted territory within both the web3 and physical worlds. By becoming a member of the Wicked Pirate Bone Crew, you secure a mint pass for any future projects, commercial rights over your NFT, access to the exclusive Treasure-Cove Discord channel, access to exclusive merchandise alongside raffles & giveaways, engagement in the creation process for our 4-Panel comics, involvement in the Metaverse integration of this project and access to the DAO-managed treasury, where the community will hold meetings and discuss ways to grow our brand. A staking mechanism and a utility token will also be implemented for NFT holders, to bolster the Wicked Pirate Bone ecosystem and introduce advanced tokenomics. This will ensure that further value is driven to the holders of Wicked Pirate NFTs and the project as a whole. You will also be helping advance and fund marine conservation efforts. We will be donating up to 25 ETH from primary sales to the charity of the community’s choice. Join us in our exciting journey as we establish a medium for meaningful connection, collaboration and adventure.

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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