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Wild Fox Club
Wild Fox Club
Solana
Collection of 2,222 Foxes🦊 that goes WILD inside the #solana blockchain. In a society where every man is fox-minded, you need to be foxier than the fox. Wild Fox Club is focusing on quality over quantity of the art, We focus on creating a community where everyone is open to each other. $WFC or Wild Fox Cash is our utility token that can be use for buying MERCH/NFTs/Etc. Staking - Earning - Marketplace - Verified We the Wild Fox Club Team is aiming to takeover the marketplace and by doing that We are making sure that the roadmap is followed and will be serve to our members. Aiming to be the best among other projects. Aiming to be the best NFT Project in Solana Blockchain. Aiming to be recognize as a Team and as a Community. Aiming to give a quality product to all of the holders. #WAAW #WeAreAlwaysWild Be with us! Let's make SOLANA WILD!
Wild Fox Club
Wild Fox Club
Solana
Collection of 2,222 Foxes🦊 that goes WILD inside the #solana blockchain. In a society where every man is fox-minded, you need to be foxier than the fox! generated, each with unique characteristics and different traits. Wild Fox Club is FOX inspired Art which you can use to access exclusive perks for our community and for IRL Events. We have a lot of plans for our future holders. We are going to create our own Den inside and outside the solana Blockchain. Get our Own Brand and create our own unique Style. We the Wild Fox Club Team is very happy to be part of NFT Space and have project with loving members. WFC Team will continue to create the best for the community. We have A lot of events/giveaways/games inside our communitiy! JOIN OUR DISCORD FOR MORE INFORMATION! #WeAreAlwaysWild #WAAW
Wooly Land
Wooly Land
Polygon
Wooly Land is a collection of unique volleyball NFTs--- unique digital collectibles living on the polygon blockchain. This collection is about the expressions of my virtual character named wooly- the volleyball ... I have played with colors and tools to create fluff. The wooly land is the land of expression. It does not matter what is the color and size of the wooly, the only things that matters are the mood and expressions. It is 100% hand-drawn original art in different colors and sizes each representing unique facial expressions and daily life moods. You can have your own wooly depending on your mood. Are you Happy? Sad? Angry? Excited? Shocked? I can’t wait to find out. The project is in starting phase right now and the floor price of the collection is 0.047 ETH, but the prices are still negotiable. There is a total of 10 characters right now out of which three characters are already sold, so do not wait and get your wooly today. Weekly sales are also available, so stay connected and follow our Twitter account to get the latest updates. Mint & join the colony today.
Forest Industry
Forest Industry
Solana
Forest Industry is a collection of 555 animated cards on the Solana blockchain. All cards will be transferred to the upcoming game to bring it's own daily income and show their secrets! PHASE ONE📌 •Creation of a collection of 333 pieces on the Solana Blockchain.✅ •Secondary market Approval (Magic Eden, Solsea).✅ •Launch Website.✅ •Mint✅ •Maintaining the price on the secondary market and holding promotions for the distribution of Sol from the percentage of Royalties in our official Twitter.✅ •Starting an NFT game development.✅ PHASE TWO📌 •Distribute the time period for the following collections to maintain balance and price.✅ •Creating a Whitelist and privileges for it. •Creating 2 waves at 555 NFT. •Mint •Release of 5 collections for a total of 3333 NFTs •Creation of p2e game where purchased NFTs will be used. •Creation of the Onyx token as a game currency. •Game launch.
Cryptery
Cryptery
Solana
First NFT Lottery ever dropping on Solana. Buy unique tickets and get Huge Crypto prizes. First edition will have a 20.000 unique randomly generated NFT supply. The price of the nft will be 1 SOL to public sale and 0,5 SOL for Whitelist, To access the whitelist you simply have to be an active member in our discord channel, this will be the case until you have completed the capacity of the whitelist. (You can find the discord link in our website cryptery.es). First edition prizes range from one Bitcoin to One Cryptery NFT. Cryptery Team wants to create an ecosystem for the lotto game in the NFT world. We also want to change the current trend to NFT, we are not only making art, we are creating unique NFT Tickets so that way even if you don´t win you still own a unique item from a cryptery edition. Join us early and enjoy the awesome things we can make together. Dont Forget that we are Here to play!!
Bored Bears Club
Bored Bears Club
Solana
777 Unique Bored Bears algorytmically generated amazed by Solana Blockchain Every Bored Bear Will be minted for 0.55 SOL Bored Bears are going to be minted the 08/05 at 20:00 GMT We've decided to remove the Whitelist so everyone can be equal 20% of sales will be airdropped to all of the holders!!! 50% of sales will be reinvested on marketing and plot acquisitons on Metaverse!!! 10% of sales will be donated to mental charity, due to the damage of the pandemic!!! ROADMAP 1. Social Media Development At this stage we will do the marketing to bring Bored Bears to as many buyers as possible. We will use multiple platforms to carry out the digital marketing. 2. Launch Our collection will be listed on multiple marketplaces, such as Magic Eden, Solanart, Solsea and Digital Eyes and the Dapp are going to be available. 3. Solana Airdrop To every holders of the 20% of the total amount of the minting. 4. Collection Remarketing and Floor Sweeps All of this come directly from Mint Founds To Bring Value and Create Even More Exlusivity to the Community 5. Adquisitions on multiple Metaverses We’re going to buy parcels on many metaverses like Decentraland, Sandbox and NexEarth. Our NFTs are going to be exposed on many metaverses.
PiratesXnavy OPEN BETA 0.1.7
PXN is a collection of 777 Mixed NFTs on the Solana Blockchain with unprecedented community mechanics(Your private Space Inside PXN Discord Server). 2 communities merged together to create a clashing environment. Join as a beta tester and enjoy exclusive access to a private crew and win huge welcome bonuses along with a chance to win lifetime discount passes.
Move2earn Hustlers Genesis NFT Giveaway
**Move2earn Hustlers Genesis NFT Giveaway** 🔥 777 Genesis NFT Airdrop including 8 epic and 59 rare 🔥 Move2earn Hustlers is a community of people improving their physical and mental health and earning crypto at the same time. We are releasing our Genesis NFTs, that will unlock many perks to our early fellow hustlers like yourself: **😲 become a part of our future DAO,** **😱 receive alpha information from move2earn startups early** There will only be 777 genesis NFTs, including 8 epic and 59 rare and the drop will be performed in several steps. Get your Genesis NFT for free and let's get more healthy and wealthy together! 🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️🏃‍♂️ 🏃 🏃‍♀️
GrosPifs mint date !
GrosPifs mint date !
Solana
Welcome to GrosPifs, the French NFTs totally Flair-play club GrosPifs is a collection of 10,000 NFTs unique digital collectibles living on the Solana blockchain. Grab one GrosPifs and keep it quietly warm in your wallet, it will open to you the doors of the GrosPifs Club a super flair-play spot… GrosPifs Club: As soon as the club will open, GrosPifs owner can participate in a free and daily lottery with $SOL to be won! A totally flair-play game. Other services will be developed later, a museum and an NFT gallery, a car racing game, a treasure hunt, a parliament, a bar. Our ideas are limitless and the possibilities are endless. Tokenomics: An economic system once again Flair-play. No whitelist same price for everyone. The sale of GrosPifs will allow us to create the foundations of our Club. Revenue Breakdown: 20% to feed the team 40% to create new games and services 10% for marketing 30% for club game rewards Secondary market royalties: 7.5% Discord is full of bot and scam so no Discord here! Visit our website for More info: https://grospifs.com/ https://twitter.com/GrosPifs GrosPifs Team
Acrylic Boxers
Acrylic Boxers
Solana
What's up guys!! We the Acrylic boxers are developing a Play to Earn PvP and PvE game and this NFT collection is the beginning of our long journey. We would like to invite you all to join us and check us out at our discord and the website to more about our vision We are planing to be listed on multiple secondary market. Grab early seat to win free NFT through raffle.(Giving out 100 free NFT) First 100 will get OG role Free airdrop for OG before mint, join us and check #OG channel. Staking coming soon, earn passive income by holding our NFT. Launch branded merchandise with exclusive perks for holders Develop PVE & PVP game with our own marketplace Launch Play to Earn mechanics with PVE & PVP Holders will get 3d model of their nft Tons of giveaway going in our discord join and win some. Follow us on Twitter
Hyperior Fashion
Hyperior Fashion
Solana
HYPERIOR uses the best engines, NFT, blockchain authentication and augmented reality, combined with our style and taste expertise to create fashion sneakers and digital art. RoadMap April 2022 🎨 LAUNCH THE 1ST SNEAKER NFT COLLECTION May 2022 😎 AR & SOCIAL MEDIA FILTERS NFTs deserve utilities. "Wear By AR" feature will be unlocked for NFT owners to interact with their digital apparels. June 2022 🗺️ INTEGRATION WITH METAVERSES Hyperior NFTs will be embedded into the metaverse and games in multichain scale where their features such as speed, stability and power will be utilized. July 2022 :dollar: NFT Staking to Unlock Utilities Hyperior Token Launch September 2022 ♾️ FIRST APPAREL NFT MARKETPLACE Every clothing brand should have a great marketplace. We’ll launch the first multichain apparel marketplace specialized for apparel NFTs. October 2022 🎨LAUNCH OF THE NFT FASHION MARKETPLACE ⭐ What are the utilities of holding the NFT? Hyperior NFT Utilities Wear your NFTs in the Metaverse Attend exclusive parties and events Receive designated token airdrops Get priority access to pre-sale for new release Stake and Earn Reward by Royalties
MAMU NFT
MAMU NFT
Solana
The giants are coming back to life after decades of hibernation. 5555 pieces are invanding Solana Blockchain, coming from 4 differents zones of the world: Frost World, Africa, Asia & America. The MAMU is a 5.555 Mammoths NFT collection, developed on Solana Blockchain. Each one is thought fully designed,specifically picked, and shaped with great care by our team artist. With MAMU Nfts, people are gaining membership to a club ,community, whose benefits and offerings will increase over time. Mammoths can serve as digital identity, and open digital doors for holders with live or metaverse events, a utility mobile app - play to earn concept, a special merch store, and many more. Our goal in the nearest future is to organise a live event after the mint at our location , where acces is only based by a MAMU Nft. We will organise community based events, at different locations. We will launch a concept called NFT for Night Time Butterfly, where anyone can attend our greatest events. Also, we are planning to launch a merch store and a staking program firstly, and following that we will develop an app with Augmented Reality function, which you can show off your mammoth in the real world. You can engage with your MAMU in real time and have realistic, engaging experiences that merge virtual items and the real world perfectly. This amazing feature will be added to the app.
Cat.Jpg
Cat.Jpg
Cardano
Cat.Jpg Collection is combination of Utility & Holy Cause. So collect from Collection of 4,444 Cat.Jpg to Become Part of Community which is sheltering cat & educating people. Let's Collect to Feel Yourself at Peace & spread Peace & Love. logoMINT Cat.Jpg Spreading peace through NFT's STORY A young artist was wandering around to find the inner peace he was looking for a state of calm which he could feel within himself. Once at a park, He was thinking about multiple ways to reach at the state of calm & then there he found a weak cat which probably haven't eat. He just picked the cat feed & shelter it & felt that peace for which he was wandering. Then he felt People need education about the adoption of cat & decided to build the community to spread education about the adoption & to shelter cats.. Cat.Jpg Collection is combination of Utility & Holy Cause. In Artist's country about 80% cats are stray. So collect from Collection of 4,444 Cat.Jpg to Become Part of Community which is sheltering cat & educating people. Let's Collect logoMINT Cat.Jpg Spreading peace through NFT's STORY A young artist was wandering around to find the inner peace he was looking for a state of calm which he could feel within himself. Once at a park, He was thinking about multiple ways to reach at the state of calm & then there he found a weak cat which probably haven't eat. He just picked the cat feed & shelter it & felt that peace for which he was wandering. Then he felt People need education about the adoption of cat & decided to build the community to spread education about the adoption & to shelter cats.. Cat.Jpg Collection is combination of Utility & Holy Cause. In Artist's country about 80% cats are stray. So collect from Collection of 4,444 Cat.Jpg to Become Part of Community which is sheltering cat & educating people. Let's Collect
MetaSkyClub
MetaSkyClub
Solana
A 6777 Members of the future Solana blockchain-based virtual real estate development company. Our plan is to buy large parcels of lands/plots & develop these parcels to create web3 event venues, NFT community centers, exclusive NFT clubs, games/minigames, and customers specific designs Our goal is to attract large numbers of online players and Metaverse enthusiast to create income through rental spaces, special events, Games and competitions, NFT Sales and Ads. MetaSky Club is giving investors an opportunity to break into the Metaverse world without the expenses of investing into full plots of land yourself! We do all the work so you can profit. Club Member's Benefits - Access to our metaverse common spaces for free. - Passive income and profit sharing to all holders through the club portfolio revenue. - Special airdrop of limited NFT items to use in the metaverse. - Create the MetSky club DAO supported by the DAO treasury.
WTFox Gang
WTFox Gang
Solana
7,777 algorithmically generated WTFoxes are expanding their territory and embarking on a new journey! WTFoxes is a 32x32 Pixel NFT, each of them is unique and has eight different attributes. Time goes back to two decades before, all kinds of animals got along peacefully in the western forest. Foxes, as one of the high-IQ animals among others, could not only imitate walking on two feet like an ape, also savvy about business operations. Their ancestral home-grown golden apple was once popular, its sweetness and longevity have made it become one of the best-selling fruits in the forest for many years. Unfortunately, the good times didn't last long. Wolfs have been holding a grudge against foxes due to the war their ancestors fought each other a few centuries ago. The Wolf Lord suddenly came up with a perfect idea to drive foxes away from the forest. One night, it sent wolf gangsters to replace some of the golden apples with poisonous red apples secretly in foxes' storehouse, then painted them gold to impersonate like a golden apple. Later, most animals suffered from mystic disease by eating the fake apples, and even showed visible signs of aging. Therefore, foxes began to be rejected by others animals, its business declined rapidly, also labeled "Foxes are cunning" for them. Eventually, under pressure and coercion, they were forced to leave their own place... These months, home lost and hope lost had made them start blaming their fate. During the desperateness, one of the brave fox stood forward, it seemed not to accept that was their destiny. After that, under its exhortation and innate leadership skill, the hopeless foxes have united once again. Finally, they decided to settle down on a desert island and named that fox to be Fox King. Now, they have established their own organisation "WTFox Gang". During these long and stable days, the population increased to more than 7,000, meanwhile the island has developed into a modern town with the fox's ingenuity, and started reviving gradually. Foxes understand that The Wolf Lord will never stop searching their location. Right now, they can no longer sit idly by, they must fully prepare to defend their next generation, and vow to change the world's prejudice that "Foxes are cunning"!

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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