By now, most of us would have heard of Non-Fungible Tokens (NFTs), with the likes of Snoop Dogg, Shawn Mendes and even many Singaporean artists who have launched their own NFT collections. But with soooo many NFTs out there, it can be hard to identify what’s legit and what are potential NFT scams, especially for those who are relatively new...
By now, most of us would have heard of Non-Fungible Tokens , with the likes of Snoop Dogg, Shawn Mendes and even manyBut with soooo many NFTs out there, it can be hard to identify what’s legit and what are potential NFT scams, especially for those who are relatively new to the NFT space.TL;DR: How to avoid NFT scams3. Check transactions6. Do not respond to DMsIn essence, always be ultra-cautious before making an NFT purchase. Treat everyone as a potential scammer unless proven otherwise.
For the uninitiated, doxxing refers to the act of publishing private information online and it can be an indicator of whether an NFT is a scam.Well, NFT creators may undergo doxxing to show some level of accountability in the case of a rug pull. This means that the public can look for said person in the event that a scam does occur.
That said, you need to look out for road maps that are “all talk” but do not have concrete plans on how they are going to achieve their goals.
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