The end of rug-pulls?

NFT News

The end of NFT Rug-Pulls?

We’re not even halfway through the year and already people have lost millions to crappy NFT rug pulls and scams.

The highlight of my month was watching Floyd Mayweather — one of the greatest boxers to have ever stepped into the ring — plead with anonymous “crypto sleuth” Zachxbt to remove tweets that highlighted his upcoming scam project.​

Thankfully, Floyd’s new project was a pretty dismal failure. So I guess he’s no longer undefeated 🤷🏻‍♂️.

While I absolutely loved seeing this happen in real-time despite my love for his boxing ability, it’s a small step fighting against a huge issue.

A good third of the news pieces we publish mention some form of NFT rug pull.

Unscrupulous creators throw up these projects only to disappear within a few weeks or months after everyone has minted their collection.

Of course, they also disappear with a few million to show for their “hard work”. All the while leaving behind a community of disgruntled investors who have handed over not insubstantial amounts of cash.