Crypto-scams take over NFTs

In recent months the cryptocurrency market has been flooded with thousands of NFT-type projectors, an element that has given rise to a significant increase in crypto-scams that follow the old and well-known pyramid fraud.

One element to take into account is that with the positioning of non fungible tokens (NFT) in the cryptocurrency market, new projects are emerging every day, and with it, the difficult task of being able to determine whether fraud is hidden among so many projects.

In the last two months the investments that have been made in the NFT market represent millionaire figures that have exponentially created an atmosphere of total madness, the gaming segment is one of the ones that has captured the most ground, so millions of people are venturing into these games and decide to acquire the cryptocurrencies offered in the hope that their value will increase.

In this sense, it is important to point out that in most cases these projects end up being vulgar crypto-scams, which on the one hand, rob people of large sums of money, and on the other hand, these malicious practices end up damaging the image of the entire crypto-marketado.

However, although it is not easy to differentiate serious projects from scam projects, there are some techniques that allow us to discover what is hidden behind these non fungible token (NFT) projects .

Whoever decides to venture into NFT projects, the first task is to verify the smart contract, in addition to investigating the management team and developers behind the project, determine if rewards of thousands of dollars are offered under psychological schemes that generate a false sense that the project in question is in high demand.

In addition to the three techniques mentioned above, you should also be wary of projects that offer free airdrop distribution in unlimited quantities, and last but not least when this project repeatedly decides to shut down its servers, in order to give the impression that more investors have come in than expected.

➊ Bolster Blog NFT Scams Part 1: 5 NFT Scams you need to know. Link