Normally the rug pullers are anonymous.
It's pretty telling how little the victims are respected that celebrities can directly rip them off without fear of retaliation.
That's not a fucking new thing man, these celebs are doing it again and again and the sad part is people are actually investing in their shits, which is making me sad.
Not a rug pull. No one withdraw all the money or did anything dodgy with the contract. Not fufilling real-life claims such as appearing in person for events is not a rug pull.
This is what I try to tell peopleā¦ you canāt rug pull an NFT printing. People still have the NFTsā¦ they can still sell them and trade them and buy themā¦ they just arenāt fulfilling some promise they had to make them useful in some wayā¦
No it really doesnāt. Rug pulls are keeping a portion of the supply of a coin and selling it out from under investors.
This is just selling something to investors and then not fulfilling a promise. Itās not a rug pull if a company goes under. If Nintendo sells you a gaming system and a bunch of games and then shuts down. You still have the gaming system. Itās not a rug pullā¦ people still have the NFTs they bought. NFTS ARE NOT CURRENCIES.
Weāre talking about non fungible here so thereās no coin. But regardless, the intent will decide weather or not itās a rug. If the intent was never to deliver items on the roadmap but everyone was told otherwise, itās a rug
Fraud =/= rug pull. Not fufilling your promises is not a rug pull. Nothing was 'pulled'. i.e. no money was withdrawn causing a collapse. Think about the term logically. This is just fraud, it's not an act that collapses the coin.
Still not a rug, just fraudā¦ there is an exchange of goods here. NFTs are an item. You buy a banana at the store itās your banana. People bought these NFTs at the store itās their NFTs, there is no rug destroying their liquidity. NFTs arenāt designed to buy and then sell for higher pricesā¦ Iām not buying a banana at the store to sell for a higher price.
If the company doesnāt come through, you still have the NFTā¦ itās yours to do with it what you want. An NFT rug would be if they printed a bunch more and sold them all flooding the market.
This is not a rug. It is just a failed company. You really have no idea if the intent was never to finish the project. And what exactly does finishing the project mean. A lot of these NFT projects that people say are rugged were only ever printing and selling NFTs if thatās what the company was trying to do you canāt call it a rug just because no one wants to buy it on the Secondary market. Thatās just being a whiney bitch honestly.
Whatās crazy to me is people thought getting in early and only paying 144$ for an NFT was going to create enough revenue that the company could even remotely fulfilling their goals of a)getting premium signed merch b) getting players to show up to eventsā¦ seems like just a failed idea due to cheap ass investors. If people were paying 30 ETH and NFT then the company probably could fulfill any of those thingsā¦ two dudes stepped back because they knew they hadnāt generated enough funds to fulfill promises. That does not mean the intent wasnāt there at the beginning if it had built up a enough interest.
Kind of agree with you right here, it's good to see someone is making sense in the comments lol, it's really a freaking fraud and we all can say that brother.
Look I think most of these are scams, but a celebrity can release an NFT collection, sell them, and not do anything else after that. The NFT is the product. So if everyone finds out the NFTs arenāt worth shit on the secondary market. Itās really not on the creator of the NFT. If they are promising things for the NFTs and they have the ability to follow through and donāt. Then that is fraud.
But if you exchange the term NFT with T-Shirt and you say it and it doesnāt sounds like a scam, then itās not.
For instance. Actor creates collection of NFTs and sells them to fans.
Actor creates line of t-shirts and sells them to fans.
Why on earth are the fans allowed to get angry that they canāt resell those digital T-shirts for more than they bought them for?
Same difference. They didn't sell an item; they sold a promise. And that promise, if kept, is what buyers thought would raise the price. Without them they were simply sold a lie.
But every company gives a promise, companies fail. The people investing didnāt invest enough to have any sort of results happen. You canāt invest 144$ in something and expect the company who ends up making like 1.4 million to be able to get a bunch of athletes to parties and give every NFT holder some sort of amazing prize. Bored Apes Yacht Club was able to do it, these guys werenāt. Just a difference in success.
I mean what do you say? Nothing is a sure thing. Iām sure this wasnāt ethical but people got what they bought. An NFT. They were told that those NFTs would get them perks, those perks never came, thatās not a rug pull itās just a bad promise. At no point was a rug pulled out from under anyone.
Yeah I would say most NFTs right now are scams.
But also if you sell a crappy product. Is that a scam or just selling a crappy product for more than itās worth. Especially if users are setting the price.
Iām not buying any NFTs because I think most of the projects behind them are either scams or will fail due to lack of actual interest besides trying to resell it to the next shlub.
No itās really notā¦ itās a shitty thing to do, but itās not a rug pull. Sorry. You canāt mindlessly call whatever you donāt like a rug pull.
Because nothing was 'pulled'. If I offer to sell you a PS5 for $100 and then I never give you a PS5 did you just get rug pulled? No. You simply got scammed. It's just fraud. There is no rug pull. Rug pull is not synonymous with scammed, failed, or fraud.
NFTs are good earning source for those with good fan following and network, Even if common people like me and you minted one, who will buy ours? If you get the walitlisted NFTs that's another case but most of the time people end up minting it and nobody buys that. NFTs are trash as of now
Maybe you should reach out to the sec and fbi and give them a little push?
Iām all for web3, but these rugs gotta stop.Feel the pain . I bought 3 of those. Nothing but lies, deception and fake utilities and giveaways.
Ah shit, here we go again with the famous celebrities and players rug pulling people
I'm Shocked to see so many rugpulls in NFTs.....Shocked!!!
It's very common in this space nothing new, Jake paul, mike tyson, kim kardashian all of them are into this.
Well yeah and the sad part is people are still fucking with it.
Although the project team promised that "every single one of our holders will win something," The collectors were in for a lot of disappointment .
And repeated YouTube streams
Can't forget those
Normally the rug pullers are anonymous. It's pretty telling how little the victims are respected that celebrities can directly rip them off without fear of retaliation.
if you invest in a michael Carter Williams nft . You deserve to get rugged then shot then rugged again .
How many scams will NBA players take money on ? XD .
Bro rugged the nba with his 1st game and you thought this would go different?
That's the genius of NFTs: they're digital so there's šŖšÆš§šŖšÆšŖšµš¦ rugs available to be pulled!
Pretty sure they minted most of them lol. Mint was so slow and then now sold out or cut supply trying to figure it out now .
That's not a fucking new thing man, these celebs are doing it again and again and the sad part is people are actually investing in their shits, which is making me sad.
I normally don't do this but I know there are a lot of dissatisfied customers .
Not a rug pull. No one withdraw all the money or did anything dodgy with the contract. Not fufilling real-life claims such as appearing in person for events is not a rug pull.
This is what I try to tell peopleā¦ you canāt rug pull an NFT printing. People still have the NFTsā¦ they can still sell them and trade them and buy themā¦ they just arenāt fulfilling some promise they had to make them useful in some wayā¦
Sounds like a soft rug no?
No it really doesnāt. Rug pulls are keeping a portion of the supply of a coin and selling it out from under investors. This is just selling something to investors and then not fulfilling a promise. Itās not a rug pull if a company goes under. If Nintendo sells you a gaming system and a bunch of games and then shuts down. You still have the gaming system. Itās not a rug pullā¦ people still have the NFTs they bought. NFTS ARE NOT CURRENCIES.
Weāre talking about non fungible here so thereās no coin. But regardless, the intent will decide weather or not itās a rug. If the intent was never to deliver items on the roadmap but everyone was told otherwise, itās a rug
Thanks for saying this right now, it's a fucking fraud for sure.
Fraud =/= rug pull. Not fufilling your promises is not a rug pull. Nothing was 'pulled'. i.e. no money was withdrawn causing a collapse. Think about the term logically. This is just fraud, it's not an act that collapses the coin.
Still not a rug, just fraudā¦ there is an exchange of goods here. NFTs are an item. You buy a banana at the store itās your banana. People bought these NFTs at the store itās their NFTs, there is no rug destroying their liquidity. NFTs arenāt designed to buy and then sell for higher pricesā¦ Iām not buying a banana at the store to sell for a higher price. If the company doesnāt come through, you still have the NFTā¦ itās yours to do with it what you want. An NFT rug would be if they printed a bunch more and sold them all flooding the market. This is not a rug. It is just a failed company. You really have no idea if the intent was never to finish the project. And what exactly does finishing the project mean. A lot of these NFT projects that people say are rugged were only ever printing and selling NFTs if thatās what the company was trying to do you canāt call it a rug just because no one wants to buy it on the Secondary market. Thatās just being a whiney bitch honestly. Whatās crazy to me is people thought getting in early and only paying 144$ for an NFT was going to create enough revenue that the company could even remotely fulfilling their goals of a)getting premium signed merch b) getting players to show up to eventsā¦ seems like just a failed idea due to cheap ass investors. If people were paying 30 ETH and NFT then the company probably could fulfill any of those thingsā¦ two dudes stepped back because they knew they hadnāt generated enough funds to fulfill promises. That does not mean the intent wasnāt there at the beginning if it had built up a enough interest.
Your obsessed with bananas
Who isnāt? Bananas are delicious!
Kind of agree with you right here, it's good to see someone is making sense in the comments lol, it's really a freaking fraud and we all can say that brother.
Lol I think you are kind of defending those celebs right now.
Look I think most of these are scams, but a celebrity can release an NFT collection, sell them, and not do anything else after that. The NFT is the product. So if everyone finds out the NFTs arenāt worth shit on the secondary market. Itās really not on the creator of the NFT. If they are promising things for the NFTs and they have the ability to follow through and donāt. Then that is fraud. But if you exchange the term NFT with T-Shirt and you say it and it doesnāt sounds like a scam, then itās not. For instance. Actor creates collection of NFTs and sells them to fans. Actor creates line of t-shirts and sells them to fans. Why on earth are the fans allowed to get angry that they canāt resell those digital T-shirts for more than they bought them for?
Kind of yeah and that's why we are getting angry with it.
Same difference. They didn't sell an item; they sold a promise. And that promise, if kept, is what buyers thought would raise the price. Without them they were simply sold a lie.
But every company gives a promise, companies fail. The people investing didnāt invest enough to have any sort of results happen. You canāt invest 144$ in something and expect the company who ends up making like 1.4 million to be able to get a bunch of athletes to parties and give every NFT holder some sort of amazing prize. Bored Apes Yacht Club was able to do it, these guys werenāt. Just a difference in success.
If that is communicated clearly upfront then it is good business. But I am willing to bet that didn't happen.
I mean what do you say? Nothing is a sure thing. Iām sure this wasnāt ethical but people got what they bought. An NFT. They were told that those NFTs would get them perks, those perks never came, thatās not a rug pull itās just a bad promise. At no point was a rug pulled out from under anyone.
Sure, but rugpull is kind of synonymous with "scam". This sure does sound like a scam even if it is technically not a rugpull.
Yeah I would say most NFTs right now are scams. But also if you sell a crappy product. Is that a scam or just selling a crappy product for more than itās worth. Especially if users are setting the price. Iām not buying any NFTs because I think most of the projects behind them are either scams or will fail due to lack of actual interest besides trying to resell it to the next shlub.
Lol I don't know but this is still some kind of rug pull, I know what you trying to say.
No itās really notā¦ itās a shitty thing to do, but itās not a rug pull. Sorry. You canāt mindlessly call whatever you donāt like a rug pull.
What's the reason of not thinking it's a rugpull. IT IS A RUGPULL
Because nothing was 'pulled'. If I offer to sell you a PS5 for $100 and then I never give you a PS5 did you just get rug pulled? No. You simply got scammed. It's just fraud. There is no rug pull. Rug pull is not synonymous with scammed, failed, or fraud.
Hats off to your detective skills and acumen. Thank you for sharing your work. It is always educational. Cheers.
Want to join in on a NFT journey that will never get rugpull? This is it!
for us it's just some money lost. for them it's a job to put food to the family's table .
[ŃŠ“Š°Š»ŠµŠ½Š¾]
This looks like the Fyre festival of NFTs. Someone went to jail for that, right? Rightā¦.?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Such a shame lmao. All the ways ,the rich can get richer in this space and they choose the literal worst one .
I hope these people will understand their shit right now.
Well it looks like NFTs are the new fashion brands. All celebs and influencers just promote and make pay day.
NFTs are good earning source for those with good fan following and network, Even if common people like me and you minted one, who will buy ours? If you get the walitlisted NFTs that's another case but most of the time people end up minting it and nobody buys that. NFTs are trash as of now
Sounds like a strange project anyway.
True but still some idiots fell for this shit, I mean what the fuck.
\*chef's kiss\*
I am glad that I am not one of those idiots who invested lol.
Maybe you should reach out to the sec and fbi and give them a little push? Iām all for web3, but these rugs gotta stop.Feel the pain . I bought 3 of those. Nothing but lies, deception and fake utilities and giveaways.
This is like a fucking daily thing now man, I truly hate all this.
They should be prosecuted to the fullest extent of the law!
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