It could end up saving you a lot of money.
So, before you decide to invest in anything, be it a specific crypto coin, NFT, or similar, do your research on the company or developer and make sure you're not jumping into something with no credibility. Ponzi schemes and rug-pulls are far from unheard of in the industry, and it's worth educating yourself on the risks of investing. Unlike the email spam of the late 90s and early 2000s, Facebook's scams can be harder to spot. While most people choose to buy NFTs instead of literally investing in up-and-coming projects, it's important to keep this kind of scam in mind when investing in anything in the crypto world. Victims are lured to a lookalike website, where they are promised they can mint new NFTs for a particular collection. In the end, it was all a huge marketing scheme to raise funds for an eventual rug pull scam. Unlike the email spam of the late 90s and early 2000s, Facebooks scams can be harder to spot. In a nutshell, CRED Mind will enable members to earn interest on idle money by lending it to other members on the platform.
People who were also told they won Evolved Apes NFT artworks in a competition via the project's social media also never received the prizes they were promised. CRED Mint is a community-driven investment product, which has been launched in partnership with Liquiloans, an RBI registered peer-to-peer non-banking financial company. The anonymous developer of an emerging NFT project called "Evolved Apes" jumped ship with $2.7 million, or 798 Ether, after investors poured copious amounts of money into the project. The website might be a scam as we found several negative indicators for.
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