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SolSea

420 Rollerz
420 Rollerz
Solana
420 ROLLER'Z NFT COLLECTION It is our pleasure to bring you 420 Roller'z NFT collection to Solana, 4,200 Generated 100% Hand Drawn Pre Rolled NFT'S with 150 traits. An NFT that rewards holders both monetary and in real life. All holders (Not Listed NFT'S) can claim their 420 Roller'z Starter Pack - 420 Roller'z papers, grinder and lighter - you supply the bud..... for now! We will open a DAO (Decentrailzed Autonomous Organization) ran by Elected Community Members. 420 Roller'z nft can be Staked for a passive income paying out in our native token $RollUpCoin, automatically paid to holders wallets. A Liquidity Pool will be created from primary sales and secondary sales, profits going to the community wallet, to be used as the community wishes. We will also be offering OG roles in our Discord to loyal members, where you can get exclusive access in OG Roller chat. One of the benefits of this is we will be sharing information on how to start your own NFT collection from initial idea stage to mint. We want to keep a tight budding community so we will have meet ups in a 420 MetaCafe - lets all learn and grow together $RollUp 🤌🏼💨 While this has been going on the 420 Rollette'z have been busy breaking down bud and now wanna get rolled onto the Solana Blockchain. Psssttt, keep an eye out as some of our 420 Roller'z NFTs will contain 'Easter Eggs' (hidden messages or clues) If you can find them or work out what you have to do you will get extra privileges, something nice in your wallet or maybe even a trip to be a 420 Roller'z Reviewer, trying out some of the best strains to be rolling up! We call this the Strain Hunters...
Funky Dudes
Funky Dudes
Solana
Funky Town is a city inhabited by 333 animated Funky Dudes on the Solana blockchain. We're part of the Metaverse and we're developing the game so there's a place for every Dudes! Currently, we are developing a game in which people will be able to use the purchased NFT and earn a token that they can exchange immediately for money. Phase 1 -Official website. -Official Twitter. -Finish collection development. -Mint 04.17.2022 -Listing on Magic Eden and Solanart. -Keeping the floor price up. Phase 2 -Creating and announcement of second collection. -Second collection mint. -Cooperation with Radium. -Creating a DUFF token. -Continue game development and introduce whitepaper. -Introducing the token into the game and staking on the Raydium platform. Phase 3 -Browser game release. -Keeping noise around the project. -Collaborations with many projects.
Poker Neko (River Phase)
Poker Neko was conceptualized by adding a light-hearted twist to daily activities/events. The idea was to have two Maneki Nekos or 'Lucky Cats' battle it out in Texas Hold'em Poker using their wits, luck and guts. Also, most NFT collections simply listed rarity percentages and collectors tend to focus on the percentages than appreciate the concept or artwork. We have deliberately avoided categorizing the poker hands into their respective values i.e. Flush. Hopefully, collectors of Poker Neko will take time to appreciate the poker game and its concept. Poker Neko has been verified on Solsea Marketplace. We are pending verification with Solanart Marketplace. All Free Mints!! Yes, you will be able to mint for FREE! Collection Supply: 500 Free Mints Drop Date: 16 Apr, 15:00 UTC !!!! Mint these incredibly cute nekos to find your best poker hand !!
DIMENXION; DECENTRALIZED METAVERSE ENABLED ENDLESS
Dimenxion.io is an integrated P2E metaverse where users can create unique digital world, interact with like-minded people and broaden their perspectives Our decentralized metaverse enabled endless possibilities. This is topped off with addictive quizzes enabled by our agile gaming capabilities! Users can govern through the DAO, build and own land, set their own rules, operate within escape rooms, battle royale and make money by curating innovative gaming experiences for others. Dimenxion.io is reinforced by the Solana network, which is the first of many to come! We’re community-oriented and eager to increase diverse opportunities, which is why you can expect other networks to be integrated soon.
Alpha Puppies Public Launch
Alpha Puppies Hi everybody, Alpha Puppies is a collection of fun puppies barking on the Solana Blockchain. They are all randomly generated with attributes and built in ranking. You should definitely check Alpha Puppies out If you are looking for quality NFT project, You found right place! You can easily make some money by holding our NFTs. We will be listing on Magiceden soon. Don't miss your chance to grab one! Whitelist Pre-Sale Early Access Pass People who own these Early Access Pass (APtokens) will be able to participate in the pre-sale and benefit from the discount. 333 AlphaPuppies NFTs will be launched onto the Solana blockchain. :rocket: PRESALE: 0.075 SOL PUBLIC: 0.1 SOL SUPPLY: 333 PUBLIC LAUNCH: 13 APRIL 2022 Join their Discord: https://discord.gg/rH4yb4YkpA Follow their Twitter: https://twitter.com/alphapuppiesnft
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.
Cool Kitties (Public Mint)

🐱 Cool Kitties 🐱

Cool Kitties is a unique collection of 1365 Kitties rearing to launch onto the Solana World.Their goal is to create a friendly community for people with Love for both NFT’s and Kitties.

📄 The benefits of holding an (CK) NFT:

🥇 Huge giveaways including Coupons to E-Stores, merchandise, Staking & Farming.
🥈 Access to the presale of their Phase-2 release coming out on Ethereum.
🥉 How royalties are used which are voted for by the community / Entering to Metaverse, where we will buy our land in Sandbox for Kitties World and $CKM Airdrops.

ROADMAP

✨ Idea implementation, Launch of website & building organic community.


✅🎉Launch on 11th April 2022 5 pm UTC.



✅ 🐱Cool Kitties🐱 collection mint start.



💸Rewards distribution for CK holders and SOL Collectors 20% for Minted CK in SOL.



🤖Provide rarity, analytics tools & sales bots for CK hodlers.



🐱Integrate CK into Discord for REWARDS verification.



💳 Launch of Gift Cards system for all the CK Minters and Holders, Guaranteed E-Store gift cards for all the CK holders depend upon their hold share.



🛍️Acquire a secondary marketplace for Passive reward for CK Holders.



🎁Deliver #31 days of airdrops Every
day in June. CK holders will have a chance to win free NFT & SOL
Trick-or-Treat airdrops from CK Collectors,or ultra-rare CK.



⚒️Open source our Reward tools We’ve Developed,to automate our #31days of airdrops and plan on open sourcing this to the public. We want to give the SOL ecosystem another little taste of,what the Kitties Crew is capable of delivering.



🎙Release CK Store, Launch CK Store, Shoping cool things with CK Native Tokens in the SOL NFT space.



🐱Launch CKSwap in addition help for funding CK Native token #CKM.



🏦Establish CKSwap Treasury for CK Native Token and adding liquidity pair with SOL.



🧰Release CK Staking Box will additionally help holders to earn some rewards.


🏆Benefits/discounts will be provided to CK hodlers.


💻Launch dedicated webpages for CK Rewards and airdrops Hosted pages for all CK owners to connect with their CK, airdrops, and more.


👕Make CK merchant Setting and Launch up a CKShop on the iconic products CK brand a portion of the merch royalties will go to a CK community wallet, and CKSWAP
members will receive a discount on merchandise.


🔜More coming soon

Great Ape Heart
Great Ape Heart
Solana
THE GREAT APE HEART IS A COLLECTION OF 777 APE LIVING ON THE SOLANA BLOCKCHAIN, EACH NFT IS UNIQUE AND INDIVUALLY CREATED BY OUR TALENTED GRAPHIC - AFTER MINT COMES DOWN ON MAGIC EDEN. How many will be available for Minting? 777 Great Ape Heart will live forever in the Solverse Mint for all roles? WL PRICE : 0.07 SOL PUBLIC PRICE : 0.10 SOL Are there secondary sale royalties? Yes, 5% of the secondary sale royalties will be held for the team and a portion of those will go back into the community for marketing, giveaways and future game developments and overall success of the project two ! Please use official Magic Eden marketplace. 1️⃣ Phase 1 We've begun design, planning and hiring for the development of our upcoming play 2 earn game. This is no longer an "idea" or a "promise" this is something we are now FULLY working on. It w ill be available in the generation where the mint will be free for first-generation holders. 2️⃣ Phase 2 New website redesign and launch previewing our up and coming game. We will use the game to drive new buzz around the project and show the world that we are a project that doesn't just talk, but delivers. We will use this momentum to help us continue to sell out the project. (we don't expect a sellout overnight, but we believe this will drastically improve minting)
Tiger Miner
Tiger Miner
Solana

We are NFT that gives cashback from our mining activity. The cashback would be distributed on your wallet. We would use the proceed from sales to purchase more mining rigs.

Quid pro Quo from this activity, Moreover the price will only go up,

The distribution of dividends would be in August, December and April everytime. Just buy and Hold, and enjoy the dividend like interest onto your wallet everytime.

We have been doing mining activity since 2016 and we now enough to make it efficient and profitable.

All the mining activities would be open and can be viewed on the blockchain, The first projected cash dividend would be august 2022.

If you want to mine cryptocurrencies but dont want to set up or dont know how to set it up, leave it to us, the King of The Miner TigerSolana NFT.

"If You Cant Stop Thinking About Me, Buy ME!"

LYCAFOX PACK
LYCAFOX PACK
Solana
LycaFox Pack is a collection of 11,111 randomly generated unique ‘Like a Fox’ characters co-founded and led by two women who wanted to bring their creative flair, life purpose and love for community to the NFT verse. The collection depicts the fox known to many as the ‘spirit animal’ which throughout the ages has been the mythologies and folklore of many cultures. We have brought together some of the different packs of foxes from around the world including Red Fox, Fennec, and Arctic Fox. Each pack showcasing their individuality and what they represent cleverness, independence, playfulness, protection and good luck.
8Bit-Postal
8Bit-Postal
Solana
First 110 unique handmade NFT's inspired in famous monuments all over the world, which in turn are set in 11 different universes. This 110 NFTs are part of phase 1 which includes tangible and real benefits if purchased, benefits such as the chance to participate in our Giveaway Trips, 8Bit-Gifts, Charity and 8Bit-Residences. We have different benefits depending on how many NFTs you have of our brand: With One: A physical gift will be send to the owner, entrance to a trip giveaway, opportunity to vote for the periods charity and once a year %discount% with the perk of 8Bit-Residences. With Two: You are allowed to vote for the new community collab universe + 1 of yor NFT becomes elegible for being in the merch (if your NFT is chosen, you'll get royalties every time some makes a purfchase of it) + all the benefits with one. With Three: One free night in one of the 8Bit-Residences + all the things with 1 and 2 + travel kit. For more information visit our website to see our complete roadmap.
Jacked Rabbit Gym Club
Jacked Rabbit Gym Club is a tight-knit community based around health and fitness! We will be releasing a collection of 2200 “Jacked Rabbits Gym Membership Cards” on the Solana blockchain. There are four rarity tiers: Bronze, Silver, Gold, and Diamond. All cardholders will receive merch drops every 6 months and will all have the ability to stake your cards to earn you $Jacked tokens! Additionally, you will get exclusive access to our privately developed fitness app which will track your workouts and reward you with $Jacked token! The token will have a multitude of different utilities within our app (more on this to come!). Our owner, dev team, and community managers are fully doxed and are striving the be the first and most successful fitness NFT on the market! We plan on creating a long-lasting fun community devoted to fitness, motivation, and health! Come check out the discord and join the community! https://discord.gg/KwfwS9Njg7
Bangsta Bears
Bangsta Bears
Solana
The dedication me & my team has is second to none. If you join our discord we have an awesome community who backs us 100%. Secondly, I guarantee that you will not find another discord with as much information as ours does. I've written a guide on NFTs, Stocks, Crypto & even a health write up. All are in the discord or on our medium https://medium.com/@BangstaBears  . Thirdly, I know I may be biased, but I believe our art is much better & different then other SOL projects, our community loves it. Last, but not least, we have a long-term vision for this project and are in it for the long run. We want to build Bangsta Bears into a brand. We want it to be well known and be much much more than a JPEG or even as just an NFT. Owning a Bangsta Bear will give you access to much more than most other projects you buy into. Holders will be able to attend weekly livestreams where I will go over the certain topic of that week. Can be NFTs, Stocks, Crypto or other types of investments. Will also have daily NFTs/Stock/Crypto calls. Then want to start a token and have Bangsta Bear holders own a majority and airdrop the rest (this is the simple explanation), will have a very long whitepaper on this later as we have to talk it over with a lawyer first if we want to do the token right. Merch will be available a few weeks after mint & Roadmap 2.0 will be out a week after mint. This is because we are a community driven project & the community will decide what we do with the funds raised (over 60% will be held in a community wallet for future plans).
Dino Eggs
Dino Eggs
Solana
Airdrops of $DEGG 🦖 444 Dinosaur eggs are about to hatch in the #Solana Blockchain and this is just the beginning. 🥚
Stoner Zebra: Contribute to Africa Wildlife Conser
Stoner Zebra is an NFT collection designed and built for the Ethereum Network. There will be a limited one-time mint of 9999 Stoner Zebras, algorithmically generated to include dozens of unique traits, some of which are extremely rare. NFTs are the latest blockchain phenomenon to go mainstream. They are tokens that are used to represent ownership of unique items. NFTs transform digital works of art and other collectibles into verifiable assets that are easy to trade on the blockchain. This NFT collection was created to increase awareness of critically endangered animals(Grevy's Zebra). The most significant portion is found on the African continent. The goal is to enable a more direct global participation in wildlife conservation, with a mix of funding and direct involvement. In that way, NFTs inspire and facilitate inclusive and collaborative practices. Recently Crypto and NFTs have become popular in the Millennial age; we are trying awareness, solutions, and resources that education the masses about wildlife conservation. Native to Kenya and Ethiopia, Grevy’s zebras are well-adapted to dry grasslands and savannahs and play a vital role in maintaining these plains. But sadly, their population has plummeted by 85% since the late 1970s(from 15,000 to 2,500). Their habitat is overgrazed by cattle, forcing zebras to compete for food, and the plains are now so degraded that there isn’t enough food to go around. Starvation is a real risk. Severe and recurring droughts are also a considerable problem. This can be a real problem for the subsequent offspring. Stoner Zebra will donate future royalties from the sales of the NFTs to the African Conservation Foundation, one of the leading charities helping endangered animals on the African Continent.

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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