NFTs? To the Moon or Longkang: How to Avoid NFT Scams
By Seedly  •  March 11, 2022
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. Source: Giphy 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 to the NFT space. So here are some ways to tell if an NFT collection is legitimate or a potential scam. TL;DR: How to Avoid NFT Scams
  1. Check if the creators behind the collection are doxxed 2. Read up on the NFT’s roadmap 3. Check transactions 4. Cross-check the NFT project price on official trading platforms 5. Check out the community 6. Do not respond to DMs 7. Beware of “airdrops” or “giveaways”
In essence, always be ultra-cautious before making an NFT purchase. Treat everyone as a potential scammer unless proven otherwise....
Read the full article
By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.

Your email address will not be published.


Your Email Address will not be published

Read More Articles
More from thefinance