Featured Image from Unsplash.com, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Youtuber and Internet investigator Coffeezilla has called out Artificial Intelligence (AI) company Rabbit for allegedly being built on a $6 million non-fungible token (NFT) scam. The company is accused of being responsible for the GAMA NFT Project \u201cfraud\u201d as part of a history of lies. Related Reading: Fake NFT Project Hack? CTO Vanishes After Allegedly Stealing 94 SOL Down The NFT Fraud Rabbit Hole Stephen Findeisen, better known as Coffeezilla, published a YouTube video calling out Rabbit Inc. for being built on the remains of an alleged NFT fraud from 2021. The internet investigator revealed that the company is seemingly trying to hide its ties to the GAMA project. Coffeezilla unveiled the depth of the AI company\u2019s rabbit hole by claiming that, despite raising over $30 million in venture capital (VC), Rabbit used to be called Cyber Manufacture Corporation. In 2021, the company raised over $6 million for its \u201cnext-generation NFT Project GAMA.\u201d The project was described as a decentralized organization \u201cwith the grand goal of sending 10,000 astronauts into space to collect extraterrestrial energy.\u201d At the time, GAMA\u2019s founder Jesse Lyu would make \u201cwild promises,\u201d claiming the NFTs were just the start. According to the YouTube sleuth, Lyu declared they would create \u201cthe first-ever carbon-negative cryptocurrency powered by our sun.” The founder promised to build a clean energy grid through NFT sales owned by NFT buyers. The grid\u2019s energy would be used to mine GAMA tokens. However, the tokens were never launched, and the project seemed to be abandoned. Its team replied to Coffeezilla\u2019s request for comment, stating that GAMA was not abandoned but \u201copen-sourced.\u201d Moreover, they claimed a token was never promised, as Lyu said in 2021 that his words were not final. The team added that they live in a country that \u201cvalues free speech.\u201d Nonetheless, the internet investigator found that the \u201copen-sourced\u201d engine constantly crashed and was non-functional after several tests. He also highlighted that Lyu stated in several discord messages that the project\u2019s cryptocurrency was part of the roadmap. Based on this, Coffeezilla questioned where the $6 million in funding went and whether Lyu\u2019s new project should be trusted. Another Rabbit In The Hat? GAMA\u2019s founder has embarked on a new project unrelated to NFTs. His latest company, Rabbit, focuses on AI technology. The company went viral in early 2024, raising $30 million in VC and selling over $20 million in consumer products. Rabbit launched their AI personal assistance device, Rabbit R1, on easter 2024. However, the project has received a lot of backlash for not living up to the hype and promises. Several tech reviewers concurred that R1 was part of a trend of releasing \u201cunfinished\u201d products. According to YouTuber Marques Brownlee, Rabbit\u2019s product was \u201cbarely reviewable\u201d and the pinnacle of \u201cdelivering barely finished products to win a race.\u2019\u201d Moreover, founder and CTO of WeGPT, Josh Ollin, called the project a \u201cscam\u201d when R1 was announced. He also pointed out on different occasions that the hype and interactions around the company were \u201cfake impressions\u201d from bots. Ollin called Lyu an \u201cNFT grifter\u201d and stated that his past behavior affected the new project due to the \u201cshady insincere fraudulent business practices on display (fake engagement, fake bot followers, fake tech stack, overpriced vaporware).\u201d Coffeezilla stated a similar sentiment in his video: So many of the promises of Gama didn\u2019t happen. This is relevant to the R1 not just because this project is built on the skeleton of that scam project, it\u2019s also because the R1 is overhyped in a similar way. Related Reading: Altcoins \u2018Maniac Phase\u2019 Preparing, Analysts Call For Next Leg Up As noted by the internet sleuth, Lyu has diminished his links to GAMA NFT, calling it a \u201cfun little project\u201d he was \u201cinvolved with\u201d during the COVID-19 pandemic. Ultimately, he considers it important for users to know the company\u2019s \u201chistory of abandoning investors like they did with GAMA NFT.\u201d Featured Image from Unsplash.com, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":609321,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10151,10524,10923,14186,92344,15369,90140,92345,90137,83355],"class_list":["post-609319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ai","tag-artificial-intelligence","tag-crypto-market","tag-crypto-scam","tag-crypto-scammer","tag-nft","tag-nft-fraud","tag-nft-project","tag-nft-scams","tag-non-fungible-tokens"],"acf":[],"yoast_head":"\n
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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. In summary, Rubmar seeks to present entertaining and educational pieces to be enjoyed by everybody, aiming to report on the latest news and offer a unique perspective while adding a meme or a pun whenever possible.\",\"url\":\"https:\/\/www.shenyangcang.com\/author\/rubmargarcia\/\"}]}<\/script>\n","yoast_head_json":{"title":"Built On An $6 Million NFT Scam? 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Her goal as a writer is to create informative, complete, and easily understandable pieces accessible to those entering the crypto space. After learning about cryptocurrencies in 2019, Rubmar became curious about the world of possibilities the industry offered, quickly learning that financial freedom was at the palm of her hand with the developing technology. From a young age, Rubmar was curious about how languages work, finding special interest in wordplay and the peculiarities of dialects. Her curiosity grew as she became an avid reader in her teenage years. She explored freedom and new words through her favorite books, which shaped her view of the world. Rubmar acquired the necessary skills for in-depth research and analytical thinking at university, where she studied Literature and Linguistics. Her studies have given her a sharp perspective on several topics and allowed her to turn every stone in her investigations. In 2019, she first dipped her toes in the crypto industry when a friend introduced her to Bitcoin and cryptocurrencies, but it wasn\u2019t until 2020 that she started to dive into the depth of the industry. As Rubmar began to understand the mechanics of the crypto sphere, she saw a new world yet to be explored. At the beginning of her crypto voyage, she discovered a new system that allowed her to have control over her finances. As a young adult of the 21st century, Rubmar has faced the challenges of the traditional banking system and the restrictions of fiat money. After the failure of her home country\u2019s economy, the limitations of traditional finances became clear. The bureaucratic, outdated structure made her feel hopeless and powerless amid an aggressive and distorted system created by hyperinflation. However, learning about decentralization and self-custody opened a realm of opportunities. Cryptocurrencies allowed her to experience financial control for the first time and expand her financial education. Moreover, the peculiar nature of the crypto community sparked Rubmar\u2019s curiosity about the other layers of the industry. As a result, she found a particular interest in discovering the diverse perspectives of investors, market watchers, experts, and developers. Her attempts to better understand the crypto space made her realize the strong links of the community with other industries, enriching her perspective of the sector. As someone who spends most of her day online, Rubmar enjoys finding the points where the crypto world meets with her other passions and hobbies \u00ad\u2013or her favorite memes. In her free time, she usually finds joy in different art forms. As a child, she enlisted in every extra-curricular activity in her hometown, including music classes, dancing, jewelry making, and the local chorus. Despite her many attempts to learn different instruments, Rubmar only knows how to play the xylophone, which she played for 7 years in her school\u2019s marching band. She also has a passion for learning new languages and cultures, having set the goal to learn another six languages \u00ad\u2013 currently attempting to learn Italian and Korean. Scrapbooking, paper crafting, and bookbinding are her biggest interests outside of work, constantly taking classes and attending workshops to learn new techniques. The rest of her free time is spent stressing over football matches and transfer market news or feeding cats \u2013hers or stray. 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