FakeOnline NFT projects trick investors into buying digital assets thathave no real value. Scammers create collections of digital art, claimthey are exclusive, and promise future benefits or high resale value.However, once they sell out, the project disappears, leaving buyerswith worthless tokens.
How This Can Happen to Us:
Fraudsters use social media hype, celebrity endorsements, or fakecommunity engagement to attract buyers. They promote their Online NFTcollections as the next big thing, convincing investors to spendthousands on what turns out to be plagiarized, AI-generated, orcompletely useless digital assets. Some scammers even use "rugpull" tactics, where they shut down a project after making aquick profit.
Example of a Scam:
An Online NFT project called “Evolved Apes” raised millions bypromising a metaverse game. Shortly after selling out, the creatordeleted all social media accounts and vanished, leaving investorswith worthless tokens.
How to Protect Yourself:
Research the creators and verify their previous projects.
Avoid buying Online NFTs solely based on hype or FOMO (Fear of Missing Out).
Check for real community engagement rather than fake bot-driven activity.
Verify the Online NFT’s authenticity on blockchain marketplaces.
Be cautious of projects without clear roadmaps or development plans.