NFTs sure do have some seriously good use case, but still there are widespread scams too.  So, when someone tries to warn about NFTs and crypto – there comes a lot of noise from different people.

Lark Davis Shared: HUGE amount of scamy cash grab NFT projects popping up. Be careful out there guys!

Majority of the people think that almost every kind of NFT project is a cash grab thing.  Therefore, in response to Lark many were wondering “What is the difference between scamy cash grab projects and non- scamy cash grab projects in the NFT space? Serious question.”

Warnings which call NFTs scamy and cash grabs seem like a very late idea, because even without a warning many already know it.  However, there are some genuine NFTs which also get labelled as scam.

There are some super cheap blockchains out there where lot of scams take place.  This is because it is low and no cost barrier to enter.  Thus, cheapest is not always the best.  It just looks like everyone even grandmas are an NFT expert these days.

Several self-help gurus who initially blasted NFTs and DeFi seem to be spamming the e-mails of people with how they are experts in NFTs and DeFi.

Someone was like:  “What do you call a fraudulent money-making scheme in which early participants are paid out of money from later recruits, with the final recruits left holding a product of little or no real value?”  Those who are not able to understand think NFT is something like that.

Many of them who were hesitant to try NFTs and finally tired it got rugged.  However, they express that they are glad because it did not break the bank.  However, they are able to recollect how the bad experience left a sour taste in their mouth.

How to spot a legit NFT or a scam? So, people maybe guided? The reality is that everyone is trying to appear genuine and it is hard to differentiate something real-real from something that is not real.

 

Those who initially thought DeFi were confusing are not like “This is why I left NFT and joined DeFi.” Because, now they believe that when compared to NFTs DeFi is safe.

NFT investors according to some are “Opportunist feasting on greed to an imaginative flip.” It just looks like “95%+ of nfts will go the way of the Beanie-Baby.”

There is something called DYOR properly before getting in any kind of investment.  Everything boils down to the use case.  If there is no use case it will not be able to survive and it will definitely be a scam.

It just looks like people take the idea of “Do your own research about anything you invest in.” very carelessly.  It just looks underrated.