NFT project founded by NBA players like Grant Williams and Michael Carter Williams rug pulls $1.4 Million
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It seems like with the NBA Finals going in, not everyone’s attention is on the on-court action as there has been a breaking accusation made for a player(s) founded NFT project which has rug pulled over $1 Million. So was this company founded by? The company was founded by NBA players Jerami Grant (Detroit Pistons), Gary Harris, Terrance Ross and Michael Carter-Williams (Orlando Magic), Dennis Smith Jr. (Portland Trail Blazers), and MLB star (Houston Astros).
The spoken off players sued their popularity to drum up interest in the project and its unsettling NFTs of various bobblehead-esque sports players. This particular project promised close involvement from the spoken off NBA stars, with a roadmap advertising autographed merchandise, along with real life and online meetups with the players, with other giveaways as well.
NBA Rumor Mill: $1.4 Million scam done by players found NFT project?
Now to those who are not aware, this detailed upon using NFTs in a way that makes them more than just static digital objects is a problem many minters and companies are dealing with in the new web3 ecosystem. Players Only NFT which was a collection of 9,990 distinct basketball, baseball and football players living on the Ethereum blockchain with a mint price of .08 ETH, is trying to be part of the solution.
However, it wasn’t always smooth sailing for these NBA players as in mid-May, two project creators announced they would be “stepping back on the project as they cannot seem to please the community”. The announcement broadly blamed the project’s failures on “lack of interest” in the project. They said they would no longer be providing physical items, and would focus on “athlete utility”, though in the time since then the project has remained similarly stagnant. Collectors minted Players Only NFTs in early December for 0.08 ETH each (valued at $144). One NFT from the project has been sold on the secondary market in the last month, for $0.001 ETH (it is valued less than $2).
“I saw the authentic way in which Players Only allowed us athletes to have some fun with our fans while also staying up to date on the space as a whole,” McCullers told Boardroom. “It really gives us the platform to show a deeper side of us than just ‘he can throw a good fastball.’ The art is great, the community is great, the utility is crazy unique, and what we’re working on in the metaverse will be one-of-a-kind.”
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Yakshpat Bhargava
(3989 Articles Published)