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Nice Baby Wolfs
Nice Baby Wolfs
Solana
NICE BABY WOLVES is a new exotic and innovative collection of nfts that will be released on the solana network, the collection consists of 3333 baby wolves of different rarities with unique and exclusive designs, this project has several goals to meet, the main one is to make the sale of this collection in MAGIC EDEN and OPEN SEA, we also have other very interesting objectives and benefits that you can discover below. Welcome to nice baby wolfs, In our discord you can find all the necessary information related to the project, you have the rules, the website, twitter and many more channels, The project is in our first phase, which is the growth and completion of the collection metaverse and nft game. Our art collection is in the development phase and there is little left, the collection will consist of 3333 nfts of nice baby wolves on the solana network and will be listed on the Magic Eden and OpenSea markets. At the time we will notify you of the opening of the whitelist for the whitelist mining and the dates of the public mining but for this there is still time since we need you to support us to the fullest to make this community grow and reach our maximum splendor let's go for it all wolfs
Rowdy Knights Club
Rowdy Knights Club
Solana
ROWDY KNIGHTS CLUB is here!!! We want to welcome YOU to the ROWDY KNIGHTS CLUB!!! The main focus of the Rowdy Knights Club (RKC) is self-development. We want to help transform our members into modern-day knights in shining armor! And for our members that are already killing it in the real world, we want to make that armor shine even more! • We plan to do this by bringing in top professionals from fields that include but are not limited to health, sports, music, business, financing, crypto, stock trading, real estate and fitness. • RKC members will be able to vote on what topics they want to be covered and what professionals they want to present via video or in-person events. • Once votes are tallied, we will reach out to the best available professionals and have the event organized. Only owners of an RKC NFT have the right to vote. Anyone can view content brought forth by our holders. ✪ 1st Round Drop: The first drop will consist of 4,000 Rowdy Knight NFTs. ✪ Rowdy Video Platform: A website featuring video presentations, holder voting and a global audience. ✪ Philanthropic Goals: Another primary focus of RKC is giving to charity. A crypto-friendly charity will also be voted on by the community, and a percentage of the initial sales will be donated to the elected charity. The amount given to the elected charity will be shared at the end of each round after it sells out. Not enough projects are donating to charities to help make a difference in society, and we want to change that! ✪ First Webinars: After our first round has sold out, we will ask our community what professionals they want covered in our first online event. From there, RKC admins will search for professionals within that field. A list of candidates will be given to the community and from there the community will choose. ✪ Rowdy Crypto Coin: After all 11,111 knights have been sold. RKC will begin the process of making a crypto coin. Knight holders will continuously receive coins once it has launched. ✪ Castle in the Metaverse: We also want to bring our castle at the top of the website into the metaverse! We want the castle to be a common area amongst RKC members, so we can have meetings and networking events with various professionals and other people of interest! The castle development will begin after all 11,111 knights have been sold. The castle will be added to the website soon.
Moonmons
Moonmons
Solana
10,000 unique Moonmons living on Solana blockchain. Moonmons can claim 'Magic Items', Exclusive Prizes and much more on moonmons.com ROADMAP Phase 1 - The concept of The 'Moonmons' starts to Develop. The founding team is formed; compiled of talented artists, developers, and marketers. - Launch of social media profiles. (Twitter, Discord, Telegram) - Launch of website. - Creation of NFT collection. - Starting a strong marketing campaign to increase exposure. Phase 2 - 'Moonmons' NFT collection presale. - Listing on secondary NFT marketplaces. - Adding 1000 $SOL to Community Fund for rewards/ giveaways. - Expanding social media engagement. Phase 3 - 'Magic Items' NFTs Available to claim. - Get verified on NFT marketplaces. - Organize Exclusive Events for community. Phase 5 - Adding another 1000 $SOL to Community Fund. - 'Moonmon's Pets' NFT collection airdrop. Phase 6 - Launch of metaverse. - Collaborations with other popular NFT Artists. - Expand the Team At the end of the roadmap we are going to re-evaluate our goals and necessary steps to become even bigger and better.
EpicSloths inc.
EpicSloths inc.
Solana
What exactly is Epic Sloths inc.? Our young project is a gradually developing EpicSloths, which has extremely high potential and most importantly, has a clearly outlined structure and plans for the future.Our goal is to develop our own community with its unique friendly atmosphere and understanding, to improve methods of communication with the audience, to bring our product to a completely new level and organize more and more sites for its distribution! And also to provide our dear guests with as much original content as possible, including "18+" content. The specially generated unique and not interchangeable sloths on Solana/ blockchain will count as many as 10,000 NFT already in its first collection ! There will be three collections planned, each with a unique set of individual traits and characteristics.
Vexed Apes Club [Whitelist]
VEXED APES CLUB A collection of 448 NFT's living on the Solana blockchain. Since landing on Solana, the Vexed Apes have been busy building their ecosystem starting with their resting spot – the VEXED STAKE – where they can begin to earn a native token, $VAC, the central currency within the Vexed Ape ecosystem. Vexed Apes are currently rewarded 24 $VAC per day per NFT staked. PLATFORM AS A SERVICE (PaaS) Vexed Apes Club have built the staking platform to be used in a Platform as a Service (PaaS) model whereby other projects arriving on Solana are able to utilise it and start rewarding holders with their native token. Benefits of PaaS: ● Ready built & tested staking platform ● Easily create & earn native token ● Responsive & Customisable Ul ● No coding needed ● Quick deployment ● Save on time, fees & resources Public Mint : 0.75 SOL Whitelist Mint : 0.25 SOL
Bikini Bottom ReVersed
Dive into the exciting world of Bikini Bottom ReVersed NFTs. Here, where all is not as usual, the well-known comic character Spongi must bring his group together and fight and cooperate the villains of his own from the multiverses. Plankton has reversed the power over Bikini Bottom! It is important to maintain the balance of the atmosphere. Find out why and what the story is all about! Bikini Bottom ReVersed is a new and unique model in the NFT sector. The most unique thing about the project are the designs, the cartoons, and the story behind them. Also unique is that we are one of few NFT projects to immediately announce a larger collection that belongs to the main character group. Our long time Goal is to create a group of NFTs which are part of a creative story of some famous characters which are in a different world and all different looking. Also, we want to create a community of user which are using our token and with the prospect to be part of metaverse. Further, we would like to develop a computer game in the future with this story and characters.
The Dons Solana
The Dons Solana
Solana
🆕️ The Dons Solana A collection of 3,500 Mafia Bosses coming to take over Solana. Blood makes you related. Loyalty makes you family. [ ROADMAP ] Our roadmap shows what we are currently working on and ready to share. We have a lot of exciting things in store that are not ready for announcement just yet and we are always looking to add new value. * Secure Grant To Kickstart Development Before Mint * Build Community And Expand The Team * Solana Money Boys x Dons Cross-Chain Analytics Tools * Further Development Of The Dons Tools * Launch Of Launchmynft Marketplace * Merchandise Warehouse * ? 🚨The Dons Solana🚨 Price : 0.15 SOL Supply : 3,500 Mint Of Launchmynft And Marketplace Magic Eden, Opensea, Solanaart And Others. A family of 3,500 Dons on the Solana Blockchain.
Bogged
Bogged
Solana
A storyline merged onto the blockchain, moulded with nothing but value and utility. Join the Bogged twins on their scandal across France and remember when there is a puamp there is a duamp 😁 The BOGGED Collection is made up of 10,000 unique pieces of art resembling the Bogdanoff twins, with valuable utility behind the work of art. 1000 pieces of art will be strongly reserved for our whitelist members and the rest of the 9000 will be held in Chapter 3 with the public mint. For ways or information on how to whitelist or any other details, please visit the designated channel in our discord. What's the utility you ask? - Instant free access to a group of high value, intellectual people - Early access to future Bogged projects - TKP token airdropped to all holders wallets Reinvestment ? - we will be using 6% of royalties to buys NFT's to airdrop into our community in hopes of helping out other projects and providing holders with additional benefits Big partnerships set in place already see you there ....
Otters n' Frens: Evolution
Otters n' Frens is a gaming NFT, invading the metaverse and the F2P game industry. All Mutant Otters will be fully playable in the Metaverse. Additionally, Otter holders will receive passive F2P game revenue returns through our staking platform and revenue shares through our royalty distribution mechanic. Gen. 2 Mutant Otters will mark the beginning of our journey into the metaverse. This collection will have a very small supply of fully-rigged 3d Mutant Otters playable in AiternateNFT's Spaceship Metaverse. 3d Mutants will be obtainable through burning 2 Gen. 1 Otters + a small mint fee. Gen. 2 Mutants will reduce Gen. 1 Otter supply by 20-40%. All holders possess partial ownership of the revenue generated from our free-to-play mobile game, paid out through our staking platform.
Trippin Guys
Trippin Guys
Solana
Trippin Guys is a generative collection of 3,333 unique non-fungible tokens (NFTs) that will reside on the Solana blockchain. Our team has designed a diverse and inclusive selection of traits, including hair styles, outfits, accessories, and more to best represent both our world and our wonderful community. //Project's Roadmap and/ or Current Activities (I) Running Promotional Campaign On Social Media. (II) After Minting the Whole Collection, Immediately listing on Marketplace E.g. MG & OP (III) Giveaway & Airdrop to all Trippin Guys Holders. (V)Giveaway to Most Trippin Guys Holders (VI)Working on Trippin Future Projects. //Twitter https://twitter.com/TrippinGuys //Discord https://discord.gg/2G46GePN6G //Name Trippin Guys //Website https://trippinguys.fun/ //Symbol GUYS //Launch Date August 10, 2022 11:00 am (UTC)
OXHILE NFT
OXHILE NFT
Solana
OxhileNft is a free mint delightful art with an initial limited edition drop off 555 unique NFTs on the Solana network. The Nft enable user's holding the limited edition to stake and farm our tokens. OxhileNft derives its fundamental concepts from Nfts on solana blockchains nfts like: Greatgoats, DegenApe, Moonbirds. We are creating work less free for user to be able to stake,farm with their nft and earn twice rewards. No one has ever done this on every blockchain and which we think the world is evolving and blockchains should evolve with it. Oxhile target to provide a universal layer to manipulate and synchronize the global state between farming tokens on solana. To achieve this, Oxhile introduce a farming system (Oxhile farm) to process most of the transaction that query or alter the state. Oxhile target to provide a universal layer to manipulate and synchronize the global state between staking nfts on solana. To achieve this, Oxhile introduce a staking system (stake oxhile) to process most of the transaction that query or alter the state.
Sweet Apocalypse
Sweet Apocalypse
Solana
Welcome to Sweet Apocalypse 1️⃣We are a Solana based Project and many of our plans are still in their early stages. We are a group of three people, surrounded by a Start-up called Sugargames GmbH, settled in Berlin. 2️⃣No promises to the moon, no promises to be big, we will deliver a stable and steady growth 😎 3️⃣All traits are hand drawn by our artist from Hamburg, who has graduated in art and many years of work experience in the game industry. 4️⃣Our art has a cartonish style, the game characters will be similar. The story is similiar to the given title: An apocalypse occured and to not let us feel frighten and fear that fact, we will make our lifes sweet in many ways. Join our journey and let´s have some joyfull times. 🤩 5️⃣The Project will be realised by our start-up Sugargames GmbH home n Berlin. The team will be doxxed by https://app.radrugs.io
Chimp Fight
Chimp Fight
Solana
FIRST SALE SOLD OUT! Chimp Fight is a play-to-earn (P2E) generative NFT combat experience built on Solana, powered by the utility token known as NANA. Each NFT is a character which will serve as in-game avatars for each of the game modes within the Chimp Fight gaming ecosystem. These characters can play to earn Crypto, battle players, and increase your status. Chimp Fight is an already well funded project with two previously sold-out sales, huge partners and team, and a very addictive game! Verified holders will gain access to all on-site utilities such as the Armory, the Colosseum, and the Temple to use your hard-earned NANA tokens for customizing NFTs and participating in special Combat Seasons. Grabbing your own NFT is sure to be a long term valuable asset. Join their community now!
SOL Killer Bunnies
SOL Killer Bunnies
Solana
👑 SOL Killer Bunnies is the No. 1 #Solana killer NFT collection of 6666 cute but deadly killer bunnies. If you love bunnies and horror, you will love SOL Killer Bunnies. Merchandising is available now for fans to get SKB T Shirts, bucket hat, hoodie, tote bag, yoga mat, pillow and many more will be added. New collections will be added in the future. P2E game info will be released closer to mid June 2022. Game will be based on exploration on Bunny Island, holders will be able to earn in game $SKBC token. There will be farming to earn Carrot for Energy, Looting for rare items and fighting bosses. Royalties breakdown. 40% goes to holders 10% goes to choice of charity 50% goes back to creator 🏆 Our mission is to save abandoned bunnies through our donations through bunny shelter charities. 10% of the sales proceed will be donated to a bunny shelters charity of choice by the community.
SOL MONSTER NFT
SOL MONSTER NFT
Solana
A land besieged by an enemy coming from the pit of Hell, as declared: "Upon the foes arrival will we stumble. Through the 2222, we might rise once more" The Monster, are have descended on earth to avenge for their brother which was killed by the demon of the sea, {THE WATER DEMON}. The earth is scared of loosing it's pride to the fight of two great monsters which made earth their battle field, the rulers of the earth set up a meeting with them to use the space but the two decided to battle on planet earth which was where their brother was killed. 2,222 Monsters were sent down to revenge for a monster soul whereby the earth will be destroy with rage of great two mortals. We have come to dominate, and revenge for the death of our monster brother, from the water demon and the planet earth is our battle field, which we will take over both the earth and the waters.

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What are NFT Royalties? Here's What You Need to Know

What are NFT Royalties? Here's What You Need to Know

Non-fungible token (NFT) royalties are an important part of the blockchain ecosystem. Many people don’t know what NFTs are or how they work, but that doesn’t change the fact that these tokens are a major force in the industry. In this article, we’ll look at NFTs, non-fungible token royalty systems, and why you should care about them.


How do NFT royalties work?

NFTs are digital assets that are unique and owned by individuals. The tokens can be used as trading cards, digital art, digital collectibles, and more. NFTs can be traded and exchanged on the blockchain, and they can have unique attributes attached to them. These attributes typically relate to ownership. For example, an artist can create a digital painting and then use a royalty to tie the ownership of the painting to a blockchain token. If someone then buys the digital painting, they also gain the right to own the token. This is how NFT royalties work because the token acts as proof of ownership for that specific painting. You can think of it as owning a share of the painting.


Why are NFT royalties important?

NFT royalties are important because they add value to blockchain ecosystems. Artists and creators can use them to tie their work to blockchain tokens. These tokens can then be traded and used in the marketplace. Not only does this add value to the blockchain ecosystem, but it also helps artists and creators get paid for their work. People can buy tokens that represent their ownership in works of art. This means that artists can get paid when their work is sold. It also means that people get to enjoy art and other digital goods while also receiving tokenized proof of ownership.


How will NFT royalty systems operate in the future?

Because NFTs are digital assets, they can be programmed with certain functions. This means that they can have unique attributes and functions that the owner can use and control. For example, artists can program their digital art tokens to self-destruct once they are sold. This would prevent the token from being sold more than once. Other royalty systems could be programmed to allow for partial ownership. This would be great for allowing investors to participate in an artist’s work without having full ownership of the art itself. There are many ways that NFT royalty systems could operate in the future. They could work to improve the efficiency of the art industry, and they could also be used to protect artists’ rights.


Why You Should Care About NFT Royalties

As we’ve seen, NFT royalties are an important part of the blockchain ecosystem. They can help artists and creators get paid for their work, and they can also be used to protect their rights. If you like art and want to support artists, then you should care about NFT royalties. It’s not just artists that can benefit from these types of tokens, though. Collectors can also enjoy owning unique tokens that represent their ownership to pieces of digital art. That’s why everyone should care about NFT royalties. If you like art at all, then you’ll like these tokens.


Final Words: What is the future of NFT Royalties?

The future of NFT royalties is looking bright. This is because the tokens can be used for more than just art. Artists can create digital goods like paintings, music, books, and other creative works and tie them to blockchain tokens. This will allow them to get paid for their work and to protect their rights. NFTs can also be used for more than just ownership. They can also be used for voting and for governance. These are just a few examples of what NFTs can do in the future. There are many other uses for these tokens, and we can’t wait to see what happens next.

Oct 19, 2022
By NFT-List
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