The dark side of NFTs: How to protect yourself from scams

 So you've probably heard about NFTs, or non-fungible tokens, and how they're changing the game for digital art and collectibles. It's pretty cool how you can now own unique digital assets, but as with any new and exciting thing, there are always people looking to take advantage of others. And that's where NFT scams, also known as "rugs," come in.

A scam in the NFT world happens when a developer creates a project but doesn't follow through on their promises. These promises can be anything from specific features for the NFTs to future developments. A common scam tactic is the "slow rug," where the developer promises future updates to keep sales high and make more money, but never actually delivers on those promises.

So, how do you avoid falling for these scams? The key is to stay informed and do your research before investing. This means checking out the developer's track record, reading reviews, and being wary of projects that seem too good to be true. Additionally, you should always make sure that the developers have completed at least 40% of their roadmap before investing and verify that the team behind the project is "doxed" (has publicly available information about their identities and backgrounds) and has good records from previous NFT projects.

It's important to remember that the NFT space is still pretty new, and scams are bound to happen. But by being careful and investing wisely, you can still enjoy all the benefits of NFTs without getting scammed. I hope you're enjoying my content and finding it informative. I always put my best effort into providing valuable insights and information about the NFT/crypto space. Your support is greatly appreciated, and thank you for reading! Join our telegram to learn more