Most celebrities do not invest their own money in brand NEW projects. They hype us the project in exchange of FREE NFTs given to them. Additionally, most celebrities also require payment for their services, which means that even if the project they are promoting turns out to be a scam, the celebrities themselves don’t really lose anything.
Celebrities tend to buy already established projects at a higher price
Simply checking the number of followers or members for a project is NOT enough – pay close attention to stats and activity too. Ensure that the Project you are considering, is actually focusing on organic growth.
Many projects hire chatters to chat 24/7 on their servers to make it “look busy”, but that’s just smoke and mirrors. Pay attention to the actual content of the conversation.
We believe this is the worst kind of hype surrounding the NFT industry. Chatters screaming “LFGGG” or “To the Moon”, without having any ACTUAL idea about the project itself, is a big red flag.
More often than not, these are people who are hired/ engaged to promote FOMO and fake hype. This is a major problem.
The very first thing to do once you enter a new Discord Server, is to disable or turn off your direct messaging (DM) options. Scammers are constantly on discord, messaging people directly for scam deals and projects. Be safe, be smart. Project owners or Founders will NEVER message you directly.
How to do it
If you are planning to mint or buy an NFT - ONLY USE OFFICIAL LINKS - provided by the Owners/Founders from official discord channels. Do not follow or ever click on any other links sent by members (and especially DMs) – it’s simply not worth the HIGH risk.
Always triple check that the link (spelling, punctuation, etc.) matches the NFT collection you are minting. Scammers are smart, so we all need to be more educated and smarter
Scammers will often airdrop fee NFTs to users, in an attempt to drain wallets. Stay safe from this by never interacting with any unknown free airdropped NFTs!
If a Project starts getting good traction and exposure, there is a very good chance that it would attract scammers. Please be wary of duplicate collections, which may be created by scammers.
ONLY USE OFFICIAL LINKS
Basics which you should always check:
If you are ever requested to click on a bot for verification (like https://captcha.bot/ or https://mee6.xyz/) please always check the link is correct.
A recent scam as come to light, where a Bot will send you the exact same msg BUT the link is a scam, and the only way to recognise this is to check the link name (the scam link has a simple "-" between the captcha-bot instead of a "." captcha.bot
https://mee6.xyz/ - will no longer ever DM you they have changed this to avoid scams
A rug pull in the crypto industry is when a Project’s team suddenly abandons a project and sells or removes all of its liquidity. Not all Projects start off as rug-pulls, sometimes projects end up overpromising unrealistic features, and end up abandoning the Project because of an unrealistic roadmap.
Check and research: Does the project have realistic features and TIMESCALES on the road map? A lot of scams have:
And many more...