Who Is Behind Safemoon?SafeMoon, launched by Kyle Nagy & two others, with celebrity support from Jake Paul & others. While promising innovation, they allegedly drained funds & controlled 50% of supply, leading to the collapse of project
Hype Over SubstanceSafeMoon's 10% fee model promised passive income, fueling a 55000% price surge by April 2021. But critics flagged its Ponzi-like structure, relying on new buyers.
Red Flags IgnoredEarly investors missed warnings as developers accessed the $200M liquidity pool. Token dropped 50% in April 2021, & promised products stalled. Coffeezilla's 2022 investigation exposed wash trading, $10M withdrawal, & lavish spending with investor funds.
4. Virtual Real Estate NFTsNFTs that represent ownership of land or property within virtual worlds or metaverses. Owners can buy, sell or develop these virtual properties.
5. Gaming NFTsNFTs used within video games to represent in-game assets like skins, characters, weapons, or rare items. These assets can be traded or sold outside of the game