To Fellow & Future NFT Whales!
It seems that the tides of market liquidity are still quite low! The good news is that true builders of great projects continue, even in this difficult environment. The bad news is that scammers are on the hunt for a fresh catch too. In today’s note, I’ll preview a few projects that are solving real problems or providing innovative solutions. This is not a recommendation to buy or sell, so NFA. The goal is to present projects with true potential, regardless of whether they succeed or fail. I’ll also provide you with my own general rules for avoiding the rug pulls and scammers. Let’s Seas the day!
Summary of today's notes:
3 Projects you should know.
5 rules for avoiding scams!
Alpha Leaks
3 Projects you should know!
Starting with Bored Box. Yes, VanEck colleague JP Lee and I did just write a P2E piece on this project, but this NFT continues to pass on benefits to its holders. Read our Bored Games blog for more details.
ATEM Car Club - My friends know I love this project and for good reason! The project currently sits with a floor price of near .25 ETH at the time of writing. For that amount, you get a lot of items and potential value. For example, each ATEM membership counts as your membership to a car club. They will be purchasing real, collectible cars to which you may get access. The NFT portion is huge, however. Each membership gets a digital car NFT, track NFTs (for customizing the racing experience with friends), an Altered State Machine Generation 2 Brain NFT (think AI for your car) and more. So, if you are looking at other projects around this price range, then consider this over an unknown one.
Cryptowalkers - More P2E fun. This first person shooter is empowering the player, they own the game assets, the character, the weapon, and even the jetpack (there is one inside the Bored Box). In addition to ATEM Car Club, this upcoming game is one of the other known projects to also incorporate ASM Brain NFTs.
5 rules for avoiding scams!
Don’t buy projects promoted on Twitter. If projects have to buy fans and supporters, then they probably don’t have any. Instead, focus on projects with teams that are doxed (we know who they are, with exception to Bored Elon), are well capitalized and have real supporters. If you jump into a discord and the general chat is on slow mode, because so many participants are spamming the chat, they could very well be bots. Pay attention to the messages being shared. If it’s all about pumping positivity, I usually steer clear.
Do not sign transactions or interact with free, airdropped NFTs that just appeared in your wallet, they are most likely scams. The VanEck Community NFT was free and airdropped, but remember, it was you who signed up for one! If you sign a transaction related to a malicious NFT, it’s quite possible that you just signed away your wallet, then it’s game over. The scammer will now have access to your wallet. They like to dump everything at a severe discount and move on to their next victim.
Have a back-up, emergency wallet. Put a little gas money in there too. In the event that you click on a bad link or sign a transaction you shouldn’t have, then your best bet is to transfer as many assets as you can from the now scammed wallet to the emergency one. The last thing you want to be doing is setting up a new wallet while the old one is being drained.
You might be the enemy! Don’t click on random links. If you see something interesting in Discord, Telegram or Twitter, look it up safely, with your wallet far out of reach.
Don't be influenced by famous people. Quite often they shill trash projects, even if they don’t know it at the time. I’ll do my best to help you avoid these.
Alpha Leaks –
Cryptowalkers project - It was confirmed that if you own any three “Male” Cryptowalker character NFTs, then you will be eligible for a free mint or claim for the upcoming “Female” version of the NFT. In short, you will get a free NFT that will have immediate value as a playable asset and tradable one!
Did you know?
You can custody assets within a multi-signature wallet such as the Gnosis Safe. Gnosis Safe acts as a vault for your items and allows you to customize your custody solution so that multiple parties can claim ownership to items. However, in order for transactions to occur, a majority of wallet signatures are needed. These guidelines are set by you and whomever you share assets with on the Ethereum Blockchain. It's especially helpful for managing large, pooled assets with multiple parties.
Authored by Matt Bartlett, CAIA
Important Disclosures:
NOT INVESTMENT ADVICE
Please note the author has invested in all NFT projects mentioned within the article including the Bored Box, ATEM Car Club and Cryptowalker Jetpacks.
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