No More Hustleporn: NFT Scam Red Flags

By Yiren Lu — Oct 28, 2021

Tweet by Matty

NFT OBSESSED. Featured on @garyvee, @CBCRadio, @coindesk, @reuters. Founder @themetakey, Daily Live NFT Show YouTube

NFT Scam Red Flags 🚩🚩🚩

Let's dive deeper into HOW you can spot NFT projects that are 99% a rug pull.

Thread

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2/ I tweeted earlier how Metabulls ended up being a rug pull.

Team vanished,

- Discord deleted
- Twitter deleted

Let's use it as an example and LEARN from how to spot potential scams. (This is industry is becoming full of them). 👇

3/ First thing I look at is team.

In this case, 4 random names that don't point to any social accounts?

Yeh no.

The question becomes, what do these guys have to lose if they one decide to take $ and run? In this case nothing! 🚩🚩🚩

4/ Anon teams are imo fine* IF they've had successful ventures and a history of building/sticking around in the past.

Or maybe there's someone credible that knows that anon.

But in this case where there's 4 random names and no social links. Lol.

3/ They claimed to have ALREADY created a game.

Biggest red flag.🚩

One thing you learn being here is that good games or games in general take time.

The NFT, (on ETH), is 4 years old and most top games are still in BETA.

Took them YEARS to build them out.

"The Spanish artist Pablo Risovalo"

lol. Sounds cool but no link to the artist? Just a random name? Who is this guy?

Can we verify he mentioned his involvement on his socials? nope. 🚩🚩🚩

5/ Game previews.

Some images and short vids of the game.

I mean...maybe they had a game but come on. This is a fiverr gig if I've seen one.

6/ More about this game.

Takes years to come out with a game and work in a balanced PVP model that you can take in NFTs.

But these guys have it ready to go which they'll drop right after sell out.

Again, gotta respect development time.

7/ Searching Twitter showed this from @LeoBishop_ who claims @AntonyLaver blocked him for asking questions.

Let's check him out.

8/ 7.2k followers on a Twitter account that's less than 4 weeks old.

lol

Doable but no Tweets? Ok maybe he/she deleted them.

But usually they don't delete their replies. Let's take a look...

9/ Literally just comments on how to get others to Promo/RT this project.

When you check Twitter search it's scary how many people actually say yes.

10/ And of course the disappearance.

Twitter, discord, everything deleted/abandoned.

It's a shame these projects exist. Pisses a lot of us off but we gotta deal with it.

11/ This may be easy to spot for experienced NFT investors but if you're new it could get you.

Chances of scams increase the more red flags you see. Some end up being legit but for me, I stay out unless there's clarity.

Be careful out there, bad actors everywhere 🚩