In what appears to be comically true, rapper Soulja Boy is setting new information within the web3 & NFT world – simply not like how we want. Soulja Boy has now efficiently been the primary rapper to rug three consecutive NFT initiatives. Let’s check out how he has cranked that rug from underneath unsuspecting followers!
Soulja Boy: NFT Rug Skilled?
Late final month, the SEC charged Soulja Boy for selling cryptocurrencies. To make clear, he was being illegally paid to take action with out disclosure. The SEC lawsuit additionally noticed different excessive profile celebrities charged with the crime. The 2 crypto currencies are Tronix (TRX) and BitTorrent (BTT).
Simply weeks after, the rapper launched a group of Restricted Version 3D NFTs. Nonetheless, regardless of apparent warning indicators, his earlier run-in with the regulation didn’t stop the NFTs from promoting out in just a few hours. The bought out Soulja Boy 3D NFTs are 500 digital gadgets on the Ethereum blockchain.
They promise to supply unique unlocks for the upcoming Soulja Boy 3D Meta online game and member-only benefits. Based on OpenSea, the gathering had a complete quantity of 69 ETH (~$130226.46).
Nonetheless, crypto-detective ZachXBT seen that the gathering blatantly ripped off the Ferrari brand with its paintings. Shortly after this, the gathering was delisted from OpenSea. To not anybody’s shock, there may be nonetheless a spinoff knockoff model of the challenge up on Opensea. Only a day after this, Soulja Boy – the person, the parable, the legend, drops yet one more NFT challenge – “Soulja Boy Pixel Artwork”.
The challenge continues to be up on OpenSea and options the rappers face in a stylized, pixelated aesthetic over totally different backgrounds. This challenge has collected 36 ETH till now, for a complete 1,398 digital gadgets with simply 251 distinctive homeowners on Opensea. The challenge can also be 100% listed.
Web3 Twitter Explodes
Clearly, web3 Twitter has had a subject day with this one. The memes and the drama surrounding the drops are, some would argue, higher than the drop itself. Web3 Twitter has additionally christened the rapper with a brand new “full title”, altering Soulja Boy Inform Em to Soulja Boy Rug Em! This additionally makes Soulja Boy the primary rapper to be banned on Opensea and return to do a re-drop. Legend.
However all the humor apart, there are severe questions being raised concerning the ethics in web3 surrounding initiatives like these. Persons are nonetheless shopping for into NFT initiatives by founders who rug their group.
This challenge is extra of a press release in web3 within the sense of frightening actual questions on founders and collectors. Ought to banned founders be allowed on platforms like Opensea and allowed to promote their NFTs although it was a confirmed rug/unlawful shill?
Solely time will inform as laws across the area improve. However one factor is evident, it’s nonetheless the wild wild west in web3.