The first NFT rug pull of 2022

[letyouearn]

Funny, but I don't understand why people are trying to scam investors in a classical way here, on NFT market. There is no need in taking the money and hiding afterwards - who will judge you if your NFTs will just drop down in price and never be bought again?

[MarjorieZimmermanGinger]

Funny, but I don't understand why people are trying to scam investors in a classical way here, on NFT market. There is no need in taking the money and hiding afterwards - who will judge you if your NFTs will just drop down in price and never be bought again?

They think investors don't have an understanding of it, strangely people don't understand how crypto actually works, if the NFT built has the lowest value, then who will buy it, this kind of thinking and understanding, should not be used anymore, not mean to judge people, but I think this is not a good way to develop creativity.

[Drnice]

The increase in scam projects are becoming something else. The NFTs are actually some good projects that has gained the attention and attraction of most investors. The implementation of new ideas are later turned to be used against it's investors when bad crew comes in with their own campaigns making mechandise of it's investors. The purpose of new projects are to develop the creativity and modifications in the system. If there continue to be scam projects, the strength of meeting market capitalization will become low and that will make most projects half way, as no one knows if the project will survive or not. That is why a safe investment now is on mainly Bitcoin and Etherium, then any other project that is among the first 10 - 15 projects in CMC.

[el kaka22]

It was always obvious that some projects will always turn out to be a scammer. Let me tell you this much, for around 1-2 thousand dollars you could get everything you need for an NFT project in design, and paying another 1-2k for some developer to do it as well if you want to. This will result with you getting it done for something around 3-4k range at the very best and you are done.

Spend another 5-6k dollars for all the advertisements on twitter and telegram groups? You will be reaching to 10k+ people at the very least, maybe even more, give out like 10-20 of them for free to get another 3-5k more people. So you have just spent 10k dollars at the very most, and managed to build a whole NFT project that reached to 50k+ people and followed by 10-20k people. How could there not be any scam projects? It is too easy to convince people these days.