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The Defi Mafia Presents: Dr Körpus Collection Ö1
The Defi Mafia Presents: Dr Körpus: The Flesh of Humanity Collection Ö1   Dr Körpus and The Flesh öf Humanity series marks the beginning of an epic story set in a dystopian future where humanity exists in the Metaverse devoid of any physical connection.   The engineered DNA that Dr. Körpus had developed for Würld Pür was exactly what the Tech Oligarchy wanted. It was perfect. It was a prison. Hundreds of thousands of years of evolution combined 46 chromosomes in a wondrous double helix pattern. The DNA molecule.   This is your chance to acquire one of the 462 original drawings from Dr. Körpus’ research as he prepares his army to save humanity from itself.   The battle for The Flesh öf Humanity starts with Series Ö1. Dr. Körpus is the first fully integrated project launch by The DefiMafia, and the Dr. Körpus NFT is a golden ticket with exclusive benefits. With Series Ö1, you gain access to Series Ö2 of 3D characters, and Series Ö3 with full character game Integration into the upcoming DefiMafia Blood Bath PVP game. And with the land we acquire in Sandbox, the Blood Bath Arena is where you can personally wage the battle for The Flesh öf Humanity. Official Dr. Körpus Sandbox Avatars are coming soon, so you better be holding on to one of the 462 NFTs from Series Ö1. We have a bunch of surprises along the way and super rare soldiers in the Dr. Körpus army. In fact, your NFT could end up in a future video game or movie!   About the Artist: The word “prodigy” perfectly describes the amazingly creative mind behind Dr. Körpus. Drawing only on his phone, he began to create a portfolio that would rival any of the big video game and movie studios. But now armed with state-of-the-art equipment along with an experienced team of writers and Hollywood producers, the Battle for the Flesh öf Humanity begins. 462 ACTUALLY hand-drawn NFTs (no computer generated drawings in this collection)   Why 462 you ask? The human genome consists of 23 chromosomes from the female and 23 from the male. Humanity stitched together by nature. But now in the Metaverse, gender only has the veneer of reality. The 23rd chromosome doesn’t determine your sex any longer, and that is where Dr. Körpus focused his research with the addition of the two extra chromosomes in the “Seed”. Forty-Six & Two. Black to white. Dark to light. Demon to God. The final sketch. “Are these 462 demons or 462 gods?” sighed Dr. Körpus with a smile. The battle for The Flesh öf Humanity is about to begin.   Series Ö1: Ethereum Blockchain Price .666 ETH per NFT Max 1 Per Whitelist Spot   For more information on upcoming projects and the exclusive benefits offered to holders, visit www.TheDefiMafia.com
Mountains & Hills
Mountains & Hills
Ethereum
Mountains and Hills is a series of digital paintings made inspired by geological colossi and the mythologies and symbolism that surround them. V8art gallery is an online platform for digital artists in the brave new web3 world. Since 1996 working with the internet, the founders have followed an outstanding path on looking for customer satisfaction on digital communication campaigns, videos and websites. Now after all this time working in the market, it is time to venture out on our own business. Throughout a extense relationship with art directors, illustrators and digital artists we curated awesome artworks for a global audience. We are working tirelessly to grow our community. Artists, collectors and art aficionados will find a place to share ideas here. All NFT collectors that buy a V8art NFT will be invited to a whitelist where they can participe on early drops, special discounts and offers on the launch of next collections. We believe that digital art deserves more than likes.
AvatArt Club - Early Minting Discount
The first 500 people who visit our website and subscribe to our newsletter can mint up to six AvatArt for 5 MATIC each (an 80% discount). https://avatart.club/ AvatArt is a collection of 10,000 original and unique ART NFTs created with the help of artificial intelligence (AI). Each of the AvatArt pieces is equally rare. This is essentially a one-man NFT art project. So, I'm not pretending that there are any benefits for buyers beyond love of the artistic content. **What You Get with AvatArt:** Unique (1 of 1), original, abstract artwork. One-person's creative project, not a corporate money-grab. Doxxed NFT artist/founder. NFT artwork images stored on IPFS. Low gas fees on the Polygon blockchain. Inexpensive minting fees. **What You Don't Get** A confusing whitepaper. A whimsical back story. Promises of future metaverse integration. Hyped-up claims about utility. **Join our mailing list: http://eepurl.com/h0W5tr **
Strong Man Stan
Strong Man Stan
Polygon
On Sale From The 14th of May 2022. 
The collection features 10,000 unique characters algorithmically generated using 88 hand-drawn traits. All characters are unique and algorithmically generated using 88 hand-drawn traits. Strong Man Stan is a high-quality unique collection with varying rarity available on The Polygon Blockchain. Launch Initiated 14th May 2022, 10,000 Strong Man Stan NFT's will be ready to be minted from the Polygon blockchain, stay tuned for the white list! 
Instant reveal after mint. Relief Fund 5% of mint revenue will be placed into a fund to support humanitarian aid. Currently supporting refugees from the situation arising from the war in Ukraine. Special Release The release of the rare, super rare and legendary examples from the official Strong Man Stan collection. Downloadable Content Special content will be made available for download on our website to all holders of Strong Man Stan NFT's.Launch Metaverse Strong Man Stan will move into its own space in the NuttyFudgeToffee community in the Metaverse. Upcoming Projects NuttyFudgeToffee's second project "Sky Diving Suzy" will be released.
Join our Twitter @Nutty_Fudge for the white list!
Pog Rejects
Pog Rejects
Ethereum
These Rejects might or might not be people you know about. They may or may not have been involved in some high-profile NFT drops that were an astounding success. These Rejects might or might not be tired of talking in Twitter spaces, Discords, and hangouts just to keep their brands alive. They may or may not be FUCKING TIRED of the general sentiment about what makes a PFP collection great. This might or might not be an experiment in community concept dependency and artificial FOMO tools. You might or might not end up being a holder of an innovative collection that will grow in scope until the end of 2022 with big partnerships lined up. Who knows. The Pog Rejects will drop on the Ethereum blockchain on 12th of May, 2022. More details about this drop can be found at https://pogrejects.quest Check the Medium article at https://pogreject.medium.com/the-pog-rejects-a-statement-in-fomo-and-community-outcasting-e1d512e4b301
Earthworm Jim : Official
A clean collection of 8,888 diverse NFT. For most of his life, Jim was just a generic earthworm engaging in normal worm activities, such as digging in dirt, crawling, and fleeing from hungry birds, until one day wherein fate should happen to smile upon him and his life was changed forever... But then something unexpected happened. The evil Psy-Crow was transporting a super suit, built by the genius Professor Monkey-For-A-Head, to Queen Pulsating, Bloated, Festering, Sweaty, Pus-Filled, Malformed, Slug-For-A-Butt, but along the way it was stolen by a rebel. Although Psy-Crow killed the rebel, the suit fell down to Earth, landing on an Earth Worm. That cosmic twist of fate placed Jim in control of an ultra-high-tech-indestructible-super-space-cyber-suit. Anyway, Earthworm Jim found out that Princess What's-Her-Name had been captured and set out to save her. Meanwhile, there's a bounty on Jimmy and plenty of people are in line to take Queen Slug-For-A-Butt up on her offer. Now Jim must make it to the princess and stay clear of Psy-Crow, the intergalactic bounty hunter, until the final battle with Queen Slug-For-A-Butt.
Free Mint Whitelist Giveaway
Ghora Ghori NFT is a collection of 5000+ generated and unique handcrafted NFT Customizable Name, Upgradable, Low Cost Using ERC 1155 Pre-Sale : TBA Public-Sale : TBA Mint Price: TBA Fee Mint Whitelist Giveway For Early Joiner Story: The Planet has been Invaded by ape, human was extinct, the remnant of human are transformed by experiment into ghori. ghories was scattered around the globe, disorganized. but one ghori named ghora has initiative to gather all ghories to unite and reclaim the earth. During the journey to find all ghories, ghora and his fellow ghories learned about humanity and the truth of their origin, they learned about societies, culture and fashion. Join to read more about the ghori story. Roadmap : BUILD COMMUNITY - Giveaway / Collabs - Establish Social Media Present - Build Smart Contract - Pre-Sale & Public Sale 20% MINTED - Buy back Floor Price & Airdrop NFT - Comic Project Started - Hiring Writer - Hiring Extra Illustrator 50% MINTED - Buy Back Floor Price & Airdrop NFT - Start Showcasing Comic Episodes - Sticker Giveaway 100% MINTED - Buy Back Floor Price & Airdrop NFT - Comic book Publication (Hard copy would be provided to raffle winner) - Apparel Giveaway - Profit of 500NFT will be given to charity
The Wacky Dog Club
The Wacky Dog Club
Polygon
The Wacky Dog Club Aims To Build A Community Of Conciencious Human Beings Pulling Toguether To Bring Awareness And Support To Those Suffering With Mental Health Issues Such As Anxiety And Depression . Our Community Welcomes Wacky Geniuses, Daredevils, Zealots, Financially Savvy And Successful Humans. Come Join Us To Make The World A Better Place... Metaverse’s First NFT Collection With Custom Boosts And Ranking System. Collect Your Wacky Dogs Now ! To Take Part In Exclusive Metaverse’s Projects. By Getting These Wacky Dogs You Will Have Following Benefits : NFT STAKING & BABY NFT GENERATOR ! Through Getting Wacky Dog NFTS You Will Be Able To Stake Them To Earn Annual Yields + You Can Also Lock Them For Certain Days To Get A Baby NFT As A Reward From The Same Collection MULTIVERSE By Getting Access To Wacky Dogs You Will Be Able To Get Access Into Multi Metaverse's Projects. These Wacky Dogs Can Help You To Perform Various Tasks Based On Thier Working Capacity & Rank. P2E GAMES Through Wacky Dogs You Would Be Able To Take Part Not Only In Our P2E Games But Others Also.This Will Be A Game Changer In The World Of Metaverse
Karma Cats Metaverse
Karma Cats Metaverse
Ethereum
Karma Cats is an NFT collection with the vision of offering holders ownership in a real business. 5,555 delightfully cute cat NFTs living on the Ethereum blockchain each represent ownership in Karma Labs, incubator and launchpad for world-class international yoga retreats and lifestyle apparel brand. Our NFT is jam-packed with extraordinary utility for holders, giving you not only access to real-world experiences and exclusive merch, but actual ownership roles in a real business. Founded by entrepreneurs who have already been running these exact business models with success, the long term value for holders is guaranteed. Our mission is to raise the collective vibration through epic community, retreats, and swag. Join us on this joyful Web3 journey and let's take these cats to the moon.
The Lunartics
The Lunartics
Ethereum
Lunartics have their Moon Bags packed! Armed with tiny bodies and even tinier minds, Lunartics have been making desperate attempts to Moon It since 1969 when Neil Armstrong unwittingly ripped them away from their home. Created by FOX Animation legend Julius Preite (Simpsons, Family Guy) and notorious Writer/Producer Dan E. Fesman (King of Queens, NCIS). Each season will launch a new series of animated videos of the Lunartics’ most futile and embarrassing missions to the moon over the past 50 years. Lunartics holders will be able to vote on upcoming missions, and even have a voice in the shape of the series! And, if they’re lucky, see their character pop up in a future episode. Go behind the scenes with two industry insiders, rub shoulders with an exclusive community of creators and animators, and be a part of the next big bang when blockchain technology converges with the world of entertainment! Ξ0.08 per NFT + gas. There is no change in mint price between whitelisted and public mint.
The Invisible
The Invisible
Polygon
The invisible collection is limited to 5578 NFTs and live on the Polygon network, it was launched on March, 2022. The Invisible is NFT art / 3D art designed or drawn through 3D models and randomly generated with over 200 different attributes, stored as an ERC-721 token and hosted on IPFS. Buying and owning 'The Invisible' gives you full commercial rights. Story... The Invisible is 3D art NFTs that is dashing, muscular, colorful and may looks yummy. 😋 Surely many from us want to be invisible but that is a dream that will never come true from then until now... So ‘The Invisible’ will give a little light for us to dream and imagine having invisible powers and being a good super hero. About NFT and what you can do with The Invisible NFT... NFT stand for 'non-fungible tokens' is a unique digital asset on a blockchain. For example, an NFT can be attached to digital art such as picture, games, music, character, video, etc. NFT are digital asset that you can buy, sell (trade) and own.
Medieval GLory - Whitelist Mint
Whitelist mint: 04/27 Public mint: 04/30 So, what is Medieval Glory? Medieval Glory will use the power of Blockchain to create a fully decentralized medieval and mystical world in which the people themselves will have complete control over the politics and way of life of the citizens of Ebiron. Why is Medieval Glory different? Our mission is to create a mystical world unlike anything you’ve seen. We have history and a universe created entirely for Medieval Glory. You will have access to a world where the people themselves will build the story. Medieval Glory offers a few key advantages 1 – A whole new world: We took care to create something totally new and exciting for our holders. We spent a few days thinking about how beautiful and wonderful the world of Ebiron will be. 2 – You will build everything with us: All our holders will have access to our DAO (Decentralized autonomous organization) entitled Bard’s Taverns where all our holders will have the right to make decisions in the creation of our world. To learn more, click here. 3 – We want to create something big: We don’t just want to be just any game, our desire is to create the largest mystical medieval community in the world and together we will create an MMORPG, a tabletop RPG, themed bars and restaurants (You can create your own themed space. If you are a holder of one of our NFTs, you will have all copyrights to it), clothing sales and much more.
Bored Hainu Club
Bored Hainu Club
Polygon
The Bored Hainu Club will be launched as a fixed set of 444 unique Bored Hainu's on polygon Blockchain. There will be massive profits by holding Bored Hainu's in form of NFT's, own at least one NFT and get whitelisted for free in our upcoming NFT Project's. 44 Board Hainu's have already been minted, We will be live for sale from 5th May on Opensea & Rarible with floor Price of 0.035ETH on Polygon Blockchain [ZERO GAS] 50% of our Creator Earnings + 20% of sale amount will be given as a charity and 30% of our Creator Earnings + 20% of sale amount will be given as rewards to 5 random holders of Bored Hainu's on 1st of every month. Join our Twitter and Discord to get early update's for our project. Roadmap will be Released soon on our website, Discord & and other social media Platforms.
ThePupa
ThePupa
Polygon
3333 ThePupa is a slug-like creature that contains all the information and history of the planet Shlorp within its DNA. When it reaches maturity, it will grow in size to consume the entire planet, terraforming it into a new planet Shlorp. ... and the best is yet to come, check out our roadmap. ROADMAP Work in progress - we're adding more to this soon. 1. PROJECT START & AIRDROP We will place the collection on OpenSea and Rarible. We will give away 700 NFT for free. 2. PIXAPUPA These pixel art NFTs will be free for all ThePupa holders (just pay gas). You will be able to mint one per ThePupa that you own. After that, we will open this collection up to other minters. 3. ThePupa Game We will develop the game ThePupa. Holders will be able to exchange their NFT for ThePupa game characters. 4. LOOT BOX We will create a snapshot and allow all holders to claim one or more loot boxes filled with ETH prizes, discount deals, whitelist spots for other projects and even some NFTs. 5. STAKING + COIN Details will follow, and keep in mind that this is a long-term project.
Cute Paws NFTs
Cute Paws NFTs
Avax Network
Cute paws is a collection of 5,000 NFTs. Each of the Cute cats has its unique, Outfit, Face, ears, hat, body color, Necklaces, and so on. Over 100 super assets have been put together and randomized to create these 5,000 Cute cats. The cute paws community is built for the love and care of pets (Paws) and to build a Digital space for the pets, so that all the pets lovers can own a digital pet, which is not just a pet but an asset. Super Paws comes in various colors and forms, from Common, Legendary, Rare and Super Rare. What do i get from the projec? The Cute Paws are incredible collection of NFTs that not only provide their holders with insane utility, but also provide access to an amazing community full of like-minded people and access to much more life changing opportunities. As a holder of this cute paws, you will have access to our market places where you can advertise your products and services to the world at zero cost but by just holding one or more cute cats. Isn't that amazing? A lot of opportunities are attached to these digital cats. Don't forget pets make us happy.

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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