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REd Flags for NFT-Projects

Red flags:



#1 Terrible Website
Organizations behind rugpulls do one rugpull after another, often following the same pattern. There is not much time to create a decent, high-quality website. If you find
spelling mistakes, expired links, or no imprint, terms and conditions, privacy policy or anything else, do not invest in this project.



#2 Unrealistic Roadmap
Read between the lines. If a project has the craziest roadmap ever,
get critical. For example, exaggeratedly high raffles, let’s say a Lamborghini or 1 million Dollars in cash. It won't happen.

This also applies if the roadmap promises what is
currently in the hype. When video games were hyped, every rugpull project wrote in their roadmap that they were going to release a video game.

Take a
critical look at how they describe wanting to do it. Do they have experienced software developers or similar in the team? Do they describe in great detail how they will implement their plan? Creating a video game is not what you can do in a few months and little investment. Unless it is fully thought out, this video game will never exist.



#3 Fake Followers/Bots
With followers and likes bought, rugpulls
replicate a fake popularity to make you think the project is already established. This robs most people of the ability to question critically. Look behind the facade.

Expose Fake followers:
-The number of followers is way too high compared to the likes on the project’s tweets
-Fake accounts have Shamrock-emojis and “win“ in their Twitter-name
-Their profile pictures are no NFTs but Asian faces


Expose Fake interactions:
-Every comment shows exaggerated hype and joy about the project
-They tell you not to miss this great opportunity
-There are more comments than likes




#4 Unjustified Price
The price of an NFT should be commensurate with the benefit or popularity of the project. If the
price is too high, you should beware of a cash grab.



#5 Getting Banned
It's common for people to get banned from a project's Discord because of their bad behavior. However, if you get
banned for asking critical questions or for wanting to get more background information and details, then the project may have something to hide.



#6 A Lot Of Marketing
Good projects to invest in don't need a lot of marketing. Most of the time they only give their project an initial push and the rest follows by itself, as the project convinces with its quality. Word gets around. In addition, serious projects often enter into collaborations with other established projects.
Rugpulls would not do this. They buy their reach through paid tweets and advertisements.



#7 Stolen Art
Let’s be honest… If you discover the art of another project, you should not
waste your time further analyzing the project. It is definitely a rug pull.




#8 Admins are inactive
If the admins are not active and reachable, the project may be so big and popular that many moderators have taken over the discord so that the founders can take care of large collaborations and other things.

With these projects, however, you don't have to question a rug pull as much. But if the project is quite small and the
admins are inactive and rarely available, then they may lack excitement about their own project. A clear red flag that indicates a failing project, or rug pull.



By paying attention to these red flags, you will
minimize the chance of being scammed by a project.

 

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