How to Avoid NFT Rugpulls—Invest in Seasoned Creators with Deep Lore
Max “Scarceface” Keiser, the High Priest of Bitcoin
This article is intended for serious investors, not ‘degens’ chasing the hype and YOLOing their last dollar into pump-n-dump assets, which only exist to scratch the speculative flipping itch, until the next shiny thing rolls into town.
Far too often, these overhyped projects promise the world, but, ultimately only deliver quick profits in the short-term for the founders and those who got in at the ground level and a marketplace for those who wish to be dumped upon. I do not deny that you can become quite wealthy playing the NFT casino, but if you wish to sit at the big cats’ table, invest hard in serious teams and hold for the long term!
Most NFT projects consist of a paragraph-long story outline, yet they promise to develop a video game or create a film at the end of the roadmap, i.e., after selling out. Money does not automatically equal writing talent and directing vision. Granted, talent can be sourced at the right price, but most NFT projects do not make enough money to greenlight the gigantic budget required to hire external talent long-term. This is why as a shrewd investor you want to look at teams that have been honing their craft and quietly building their worlds long before the NFT craze of 2021 was born.
To illustrate my point, anyone can throw a couple of shiny sentences together in the vein of:
“When the Space Badgers’ world imploded, they drifted through space, until they found themselves on our moon. Here they discovered ancient Eternium Crystals and soon found that by absorbing their mythical radiation, they could unlock magical powers. They kept away from Earth, but, ultimately, came down to stand shoulder-to-knee with mankind to vanquish an otherworldly menace that threatened to snuff out all life across the entire Milkyway.”
See what I mean? You can write a story about anything, but world-building this is not, this is just a cornerstone of a metaverse, a rough sketch or an outline pitch. A puddle-deep hook like this by no means replaces actual lore, which takes years to craft. The only way to truly bring characters to life is to imbue each one with a unique personality and an individual story, that ties into the overarching narrative. So finding teams who are truly dedicated to their project, ergo: worth investing in is relatively easy—just check how long they have been working and how well-crafted their world is. Did they embark on this journey because they truly have a unique vision and a riveting story to tell, or are they just trying to catch the NFT wave and churn out some quick, low-effort coin or token?
Our team has been building up the World of Animus since 2010, as is evident by the books we published as far back as 2014.
We have screenplays standing by and more than enough lore to fill several video games. Remember, building truly great projects takes time and dedication, there are no shortcuts, so look at the team and weigh their motivations before investing.
Be a pioneer, not a follower. Don’t buy into the hype of today, invest in what will be hyped tomorrow!
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