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Non Fungible Program | Ean coins with Git Push
Non Fungible Program (NFP) is an NFT project that pays people while they are coding for any open-sourced projects. 
 Every NFP can be linked to one or multiple Github accounts.

 Both the NFP owner and the developer earn coins every time an open-source piece of code is published. Litepaper is available here: https://litepaper.nonfungibleprogram.com __________________ TL;DR - Our NFT allows developers to earn crypto by pushing code on GitHub or by renting it. - We want to push open source to the next level - By creating an NFT that allows Developers and Holders to earn crypto tokens at each contribution on Github - Developers and Non-Developers can earn crypto coins thanks to our utility tokenomic - As early members, this is a huge opportunity Feel free to join us on Discord to not miss any airdrop.
ADA Ninjaz: Daisuke
ADA Ninjaz: Daisuke
Cardano
After 2 sold-out seasons, ADA Ninjaz brings you its 3rd clan and drop: The Daisuke. The Daisuke are Nomadic groups of varying technological savvy, the Daisuke are the helpers & saviors of the land Their goals are nature & its nurture. Flora & fauna being their only true care, they shun larger modern society and its ways The Daisuke clan will consist of 8,888 Live 2D (animated) auto-generated NFTs and includes a music file, an MP4 and a still image in the subfiles. Price: 60 ADA (ADA Ninjaz holders will receive up to 20% off) Pricing structure: Each Ninja from previous seasons = 1% off. Ie. 1 Ninja you hold = 1% off, up to 20+ Ninjaz = 20% off (So a Ninjaz holder of 20+ Ninjaz will only need 48 ADA to buy a Daisuke). Join us for the OG manga/anime revolution. And be a part of this journey to making the first decentralized anime!
UNOTable NFTs
UNOTable NFTs
Polygon
This is about UNOTable NFT's Our art style is somewhat different than from mainstream NFT's but that doesn't phase us in anyway. I will mention that there will be no whitelist. Everyone is gonna have the same price for equal chances, we believe in equality. Equal for everyone in short. simply put we make art, that will provide benefits to people who mint our NFT's however for now it's just art. Sale Price 0.002 - 0.3 ETH Blockchain will be Etherum / Polygon for now just Polygon. Me and sh4d0 will be answering most questions so if you have any feel free to join the discord server. Will have a wide range of NFT's. There is also an ongoing giveaway so join quickly. The art we provide is what we most people call “different” However we love this art style and how everybody can perceive a not so clear picture differently. But that’s all for me now so I'll see you there
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.
Snub City Presale Phase 3
Amongst the trees in the Tibetan mountains, snub nosed monkeys lived in harmony; but deforestation caused Snubby the monkey to be separated from his family and get captured. Snubby was flown to New York, to be sold to a rare animal collector. But when he arrived to the port, he escaped… Follow Snubby’s journey with 6,000 hand-crafted, algorithmically arranged NFTs as he settles into the big city and his newfound urban lifestyle. Snub City is releasing it’s third pre sale on Thursday and Monday, May 19th and May 23rd! We will be releasing another small amount of Snubbys at a discounted mint price 0.55 sol! This will be the third phase of minting leading up to the public mint which will be released at 1 Sol. This is the lowest price at which you will be able to get a Snubby as of right now! It is not too late to become whitelist so join the discord now! Our last two pre-mints sold out quick, you don't want to miss this one!
THE NOMAD(E) DROP Graphene-X First NFT Drop
ALL-ROUND PERFORMANCE WEARABLE Graphene-X engineer some of the most advanced fabrics & gear in the world. The brand create all-round performance apparel from the strongest material on earth to empower us to live a boundless life. Graphene-X in collaboration with BNV is launching the Nomad(e) Drop, along with their fifth kickstarter campaign. The drop will consist of a digital-wearable version of the original physical product. The Nomad(e) jacket is a high tech performance hybrid that combines the elements of an emergency jacket, an E.D.C. (everyday carry) gear and a windbreaker, with its proprietary Graphene caged membrane, it can save lives during extreme weather conditions. The drop will consist of the Nomad(e) Jacket in two colors, distributed randomly, available via a public sale. Each person can buy a maximum of 5 pieces. The price will be 0.3 ETH.
Poker Heroes Mint is live!
Mint is live! Poker Heroes is a generative art poker collection made up of 9,999 unique 3D avatars minted on the Polygon blockchain. Each avatar is rendered by combining 777 unique poker-themed traits and accessories. These avatars come with built-in utility through a partnership with the World Poker Tour Global (WPT) that gives them superpowers in the form of $100,000 free rolls, the ability to skip the waitlist and play with celebrities like Steve Aoki and get access to WPT VIP Live events. The 9,999 avatars are divided into three rarity groups: Humans (60% of total supply) Cyborgs (30% of total supply) Gods (10% of total supply) This mint is special because you can mint some special avatars that have poker celebrities traits. Recently, GAMAVRS announced 16 top poker players joining the NFT Poker Club. For more information make sure to check out: gamavrs.com
Ada Farm
Ada Farm
Cardano
🍒"Ada Farm" is a Play-To-Earn NFT, blockchain-based game where players can be rewarded by plowing land, Growing and harvesting crops, Harvesting Trees, properties, and other NFT based assets with real-world value by playing the game in a fun and safe Metaverse 👨‍🌾👩‍🌾We want to build a game that will allow Ada Farmer's holders will be rewarded for managing their own farm by plowing land, Growing and harvesting crops, Harvesting Trees and to sell it to the local markets. 🥑Escape to the world of farming, friends, and fun! Go on farm adventures to collect rare goods and craft new recipes. Raise animals and grow your farm with friends. Join a farm Co-Op to trade and share or play on your own. You can play Ada Farm anytime, anywhere… Just an internet connection. To have access to play Ada Farm, You need to have your own Farm land NFT of Ada Farm 🏡 🌽The concept of Ada farm took from the most famous game in the world, "Farm Ville," The most popular and loved game on the earth planet! 🍇The goal is to grow, gather and craft your way to building the most efficient and productive Ada farm Community
Streetlab.io | Launching Genesis Collection in May
Streetlab.io | Launching Genesis Collection on May 15 Streetlab.io is the NFT platform for Street-Artists. The community is gathering to make #StreetArtNFT the next big thing. 👉 25+ world-class Street-artists are already onboard preparing their drops 👉Streetlab is supported and advised by great crypto-art OGs like Benoit Couty from MoCA and Carlos Marcial Torres 👉Streetlab Genesis collection by the Mexican Street-Artist Yescka is launching on May 15 https://twitter.com/Streetlab_io/status/1515776480244023310 The NFTs of this collection are the governance token of the platform. The Genesis holders will get: • shares of Streetlab revenue • ability to refer a Street-Artist and get a revenue share from the platform • privileged access to future Streetlab drops • curation voting rights Intro video: https://www.youtube.com/watch?v=2yYBRKomF2A Roadmap: https://medium.com/@streetlab.io/streetlab-io-roadmap-3f816350da5f https://twitter.com/carlosmarcialt https://twitter.com/museumcryptoart https://twitter.com/BnoiitC
Gentophile
Gentophile
Cardano
Gentophiles V2 are limited edition 10,000 unique algorithmically created stars based on mathematical functions using javascript! 4.5 billion years ago a single drop of color dripped from the brush of a painter and this drop gives 10 million colors to earth, 177 colors of them found out that they belong somewhere beyond the milky way’s border and decided to send a group of 10000 generative arts to look for this colors real home. when these colors went outside of the Milkyway they went to their exact home and now we have 10000 stars in 13 real-world galaxies These pieces were inspired by what happens in the universe. While star dances are intricately and meticulously choreographed, the beautiful colors make fantastic feel from millions of lightyears away and they bring us peace sense of the dark and beauty of colors in space
MaiarPixPeople
MaiarPixPeople
Other
A collection of 6,000 unique NFTs living on the Elrond Blockchain🌱⚡ Cosmopolitans🧔🏿‍👩🏽‍🦰👱🏻‍ may have different backgrounds, ideas, and cultures, but they all want to build a better world with friendship, respect & love for each other ❤️ If you do believe in the love of each other, join forces with the cosmopolitans and help them set up their Cosmo world 🌍. 🎁 41.000$ total giveaway 💰 50% passive income 💖 25% royalties for UNICEF Q2 2022 - Kick off the Cosmopolitan World 🚀 🎁 $5.000 giveaways among Cosmopolitans holders after each drop is sold out 🎁 $41.000 total giveaways after the 9th drop is sold out 🟢 Launch Twitter, Instagram, Discord and website ⚪️ 1st Presale at 0.1 eGLD ⚪️Mint & Sell drop #1 the first 600 Cosmopolitans for 0.3 eGLD ⚪️ $1.000 giveaway among all Cosmopolitans holders 🎁 ⚪️Mint and Sell drop 🛒 #2 for 0.4 EGLD #3 for 0.5 EGLD #4 for 0.6 EGLD #5 for 0.65 EGLD #6 for 0.7 EGLD #7 for 0.75 EGLD #8 for 0.8 EGLD #9 for ? EGLD Q3 2022 - The MaiarPixPeople DAO - LKMEX Distribution ⚡ The benefits of this project will bring you passive income: 💰 50% of the Mint revenue & Royalties will be sent to the DAO wallet to farm LKMEX for the Cosmopolitan holders. ↪ 50% of farmed LKMEX we will be reinvested in more farming, the other 50% will be sent to the holders every month. 💰 25% of the royalties will be donated for the UNICEF association.
unspins.qoob
unspins.qoob
Cardano
unspins.qoob is algorithmic 3D Art NFT project on Cardano blockchain. Collection consists of 9054 algorithmically generated 3D cubes with unique texture combinations. Each qoob contains animated 3D object which is compatible with known VR/AR standards and metaverse specifications. Each qoob is wrapped with textures which are generated from code stored in each NFT's metadata. 6358 unique textures are used. qoob “Genesis” (0000) contains Python code to (re)create qoobs from scratch if necessary. All code is stored on-chain. All qoobs are mathematically calculated from set of possible texture properties. Each qoob is generated from metadata using advanced programming algorithms and assembled as 3D object in Python (with Blender). This collection is inspired by extensive study of CNFT collection unsigned_algorithms and utilises forked version of its code.
Land Of Witchelves
Land Of Witchelves
Solana
Land Of WitchElves is a one-of-a-kind hand-drawn NFT set in a magical universe with amazing artwork and item rarities. Each NFT will work as a pass in our universe. We want to create an engaged community that will stay at the center of attention in the project. Not only we have a fantastic and unique collection to show off, but our Holders will also have access to: Land builder system where you will be able to customize a plot of land. Mini-games district where you will be able to play and appear on our leaderboard system that will grant you the ability to win airdrops and SOL. A DAO where you will have access to project decisions, unique raffles and rewards and community wallet. Every piece is unique, generated from over TBA possible traits like : Face, Monster, Clothes, Hat, Wand, Background and more
‘She is Unstoppable’ - Let's Drive Female Artists
There is an acute under-representation of women in several sectors and disciplines. As the NFTs are making a decisive switch from a niche type of digital assets to the mainstream, a gender disparity is visible on Web3. Only 5% of NFT art sales went to women creators, in 21 months to November 2021. We are on a mission to radically shift the course of female representation and to close the gender gap, both in the art world and in the world of NFTs, by supporting emerging and established artists to make the first steps into the Metaverse.
 Our curated NFT drop includes an exclusive selection of art based-NFTs by women artists.
 Each of these female artists has been invited by RtistiQ to take part because of their exceptional talent, their coherent art concept, art market recognition and powerful statement. Women Artists are ready! Are the Digital Art NFT collectors ready, too?
Atama NFTs
Atama NFTs
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

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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