DeAaron Fox allegedly steals $1.5 million from an NFT Project he ditched; Blames timing of the launch
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De'Aaron Fox
DeAaron Fox has a lot of controversies coming his way, and for a sportsperson of his stature, it isn’t from the court of basketball, but from the NFT World as it is now being alleged that the player has stolen over $1.5 million from an NFT project he recently launched, and then ditched it citing various reasons. Fox who ditched the project that he began on 15th of January blamed multiple things for the failure of the project, most important of which being the timing of its release. By the looks of it, people of social media are assuming that Fox’s team will keep all the money and they will get nothing but signed jerseys.
DeAaron Fox who is an active investor in the NFT Marketplace decided that it would be fair for him to launch his own project which at the time it was minted was worth around $1.5 million and now the project is being ditched citing various reasons, and it is being said that people won’t get their money back and implied that Fox stole their money.
The NFT Project launched by DeAaron Fox was one of the most ambitious projects and had a lot of scope involved with it but now that it has been decided that the project will be disbanded, it seems that all of the scope and opportunities will go away with it and the money of all the people who invested in it will also be lost, with no refunds.
Let us now take closer look at this sequence as DeAaron Fox was called a thief for stealing peoples’ money and giving them cheaply valued signed jerseys in return for that.
DeAaron Fox called a thief for disbanding NFT Project worth $1.5 million
All the Fox Investors are now pissed that they won’t get equally compensated for their investment mad in DeAaron Fox’s NFT Project that had a lot of scope involved with it including things like all-star game tickets, a metaverse basketball court, and even a scholarship to Fox’s alma mater, the University of Kentucky, in addition to 3D “Fox” avatars which attracted a lot many people, making it one of the most ambitions sports NFT Projects.
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In a series of tweets, Fox highlighted that him and his team had decided to disband his NFT project which he said was because of the wrong timing of its launch. Fox said, “The time and attention that y’all deserve and that I wanted to give you all/what this project takes, was not known to me and I overstepped and stretched myself too thin,”.
In response to which he said on his Discord Channel with 106k people that he would be giving “All Rookies” members (those who had purchased between 5 and 9 NFTs) a signed jersey, which is presently valued between $75 and $145 dollars while De’Aaron also vowed to “thank” MVPs (those who purchased at least 20 NFTs), however the nature of the incentive is still unknown.
The Project which suddenly went off air created a lot of anger and disappointment in the 3000 Fox investors who were looking for something more than cheap signed jerseys and at least a proper reasoning and explanation.
Let us now take a look at the reactions people on twitter had to this incident where Fox was called a thief for stealing the investors money which is valued at around $1.5 million of precisely 475 user ETH, which will give the users nothing in return including no explanation. Though Fox seems remorseful, it is almost certain that the people won’t get their money in return and it is also obvious that they can do nothing with his remorse.
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Harshit Singh
(434 Articles Published)