Blockchain Blog — business
Such a Thing as an NFT Bubble?
Posted by Micah Balazs on
NFT scams and bubbles are everywhere today. You should definitely be cautious. After all, the whole point of NFTs is the transparency of ownership and authenticity, so always study information on how these bubbles and scams are happening in the first place and what can you do to avoid them.
Is Web 3.0 a Scam?
Posted by Micah Balazs on
Blockchain technology is based around a worldwide network of computers that talk to each other and validate and record transactions without human intervention or a centralized oversight, like central banking. Web 3.0 is piggy backing off that concept.
3 Most Common NFT Scams
Posted by Micah Balazs on
Blockchain-related activity isn’t any different. Illegal activities happen wherever a profit can be made. There are numerous reasons why NFTs are gaining momentum in the scam world.
3 Ways to Avoid NFT Scams
Posted by Micah Balazs on
Anyone can be a victim of brand impersonation. A quick search for popular brands like Rarible on Telegram or Twitter will generate multiple accounts all claiming to be the original. Even crypto literates and tech-savvy users who do not thoroughly examine the identity of support services can fall prey easily.
Always Do Your Own DD.
Rug Pulls Heard Around the League
Posted by Micah Balazs on
Fox has been accused by his NFT holders of rug pulling, which is a common tactic that happens in the space. Project founders will raise money and walk away with all of the funds, shutting down communication channels on their way out to make it more difficult for investors to organize.