Are there more and more people getting scammed by collectors in NFT art? There are many blogs that don’t tell the truth. The NFT market has suddenly become popular since the 2020s. This market has grown rapidly and has attracted a lot of attention, but at the same time, it is also said to be suspicious. It is said that scammers and others have already entered this market.
What is NFT Art?
NFT is an abbreviation for Non-Fungible Token. NFT uses the blockchain technology used in virtual currency, and the blockchain technology has realized a mechanism that prevents data falsification, making it possible to find high asset value in digital data. NFT art was born from this.
NFT art is said to reflect NFT technology in digital art. Since digital art can be easily copied, it was said that there was no way to distinguish which was genuine, and it was difficult to attach a high value. However, as described above, we have realized a mechanism that prevents data falsification, and it has become a viable business. Many artists are now participating.
Be careful when purchasing
When purchasing, you need to be careful about the information. My account often receives a list of solicitations from suspicious image icons in messages. NFTs can be sold and purchased by transferring ETH to a wallet, but the number of scammers is also increasing. I have received more contacts than I expected, and recently I have been forced to sell to people who have collections of paintings and images. The number of collectors is increasing in Japan, but you need to be careful. There are also scammers who will link you to a page with a ridiculously high commission fee from posts on Instagram, etc. If you receive a message, first investigate and make a judgment before responding.
If you don’t know, just ignore it
If you don’t know, just ignore it. There are many cases where the price is high even if the page introduces a photo or image that you are interested in. Digital buying and selling methods are really sophisticated, and many people will guide you to suspicious links. There is also a gas transfer in Ethereum, so if it’s troublesome, just ignore it. If a creator is currently asking you to participate in a strange way, you can ignore the request, unless it is safe, of course. If you are personally uneasy, there is no need to ask for details.
The reason why NFT art is said to be shady and suspicious
On the other hand, there are reasons why NFT art is said to be shady and suspicious. This is mainly because scammers have entered this market. In fact, the number of NFT fraud cases is increasing, and the problem is getting bigger. In addition, the reality is that there are many people who are forced to give up due to the fact that the legal system has not yet been developed.
Emergence of fake sites
Scammers have created many fake sites. There have been frequent cases of spoofing world-famous virtual currency exchanges such as Gate.io, registering accounts, investing in NFTs, and then escaping. There are actually victims, and many fake sites such as Opensea have been confirmed, and many people have registered.
Solicitation from Discord
Discord is a chat app, very similar to LINE, Whatsapp, Wechat, etc. However, although this app is almost a place for NFT users to exchange opinions, there are scammers who are soliciting investment from an unspecified number of people. The act of defrauding money from there is quite noticeable.
the project itself is a scam
Even though some projects are listed on the NFT marketplace, their goal from the beginning is to scam users out of their money. These projects are not handled by major cryptocurrency exchanges, but they are common in smaller marketplaces, and many users are being deceived. Even if you think you want something like this, don’t be complacent, listen to what they have to say and think about it before making a decision. The methods and content are somewhat set. Think carefully about whether you should reply.
Solicitation from SNS
Solicitations from SNS are on the rise. This is especially noticeable on Twitter. DMs suddenly come in asking if you want to invest. Solicitations are on the rise. When it comes to NFTs, it’s a popular investment right now, so many people are being lured in and deceived. Even if you receive solicitations from some people and are told that it’s “great,” you should be a little careful. There have been cases where trouble has occurred with foreigners. Instead of buying, refuse. I’ve had similar stories before.
No investment is 100%
This is what investment scammers always say, not only for NFTs, but they deceive investors with complaints such as “absolutely profitable” and “guarantee system”. 100% investment is never possible. Therefore, we recommend that you invest at your own risk. We also recommend entering the NFT marketplace through a major cryptocurrency exchange as much as possible. The bigger the company, the less likely scammers will sneak in.
NFT Marketplace
Gate.io allows you to enter the NFT marketplace and actually do business. To do so, you will need to open an account. If you want to sell your work, open an account. I also introduce it in the following article.
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