stupid question: how? Since there is no pretense of utility to NFTs, it means the value comes entirely from owning something scarce. How can this be a scam even in principle?
Classical pump and dump scheme. Someone makes new NFTs promising that they will go up in value. People buy NFTs, hoping to earn money. Then the scammers cash out and run away.
Are people making such promises explicitly, or do buyers just go in with the expectation? I’ve taken a cursory look at https://opensea.io and haven’t seen explicit promises.
As far as I understand, it’s more like an implicit assumption heavily supported and perpetruated by community of corresponding NFT project. Here is a link from an ad that I keep getting at youtube https://dag.expopulus.com/. This project gives me vibes of standard NFT thingy which can end up being a scam. You may try to explore discord servers of different NFT communities and see how people behave there.
Classical pump and dump scheme. Someone makes new NFTs promising that they will go up in value. People buy NFTs, hoping to earn money. Then the scammers cash out and run away.
Are people making such promises explicitly, or do buyers just go in with the expectation? I’ve taken a cursory look at https://opensea.io and haven’t seen explicit promises.
As far as I understand, it’s more like an implicit assumption heavily supported and perpetruated by community of corresponding NFT project. Here is a link from an ad that I keep getting at youtube https://dag.expopulus.com/. This project gives me vibes of standard NFT thingy which can end up being a scam. You may try to explore discord servers of different NFT communities and see how people behave there.