{"id":4415,"date":"2022-06-04T17:32:30","date_gmt":"2022-06-04T10:32:30","guid":{"rendered":"https:\/\/test.wikibinance.com\/?p=2948"},"modified":"2022-08-23T10:22:16","modified_gmt":"2022-08-23T03:22:16","slug":"how-to-help-you-not-get-rug-pull-on-the-nft-platform","status":"publish","type":"post","link":"https:\/\/wikibinance.com\/en\/news\/how-to-help-you-not-get-rug-pull-on-the-nft-platform.html","title":{"rendered":"How to help you not get Rug Pull on the NFT platform"},"content":{"rendered":"

NFT is increasingly attractive to investors. They have interesting use cases that help revolutionize the art world and countless other industries, and some of them can increase in value significantly over time. The more the NFT platform<\/strong> grows, the more it will attract bad actors.\u00a0<\/span>While fraudulent schemes aren’t just for NFT domains, there’s a growing number of scammers targeting NFT users and investors \u2014 especially beginners. Understanding how to spot common NFT scams like Rug Pull is the first step to avoiding them and keeping your money safe.<\/span> \"how<\/p>\n

What is Rug Pull?<\/b><\/h2>\n

Rug pull<\/strong> occurs when an altcoin group or NFT abandons its project and disappears along with the money raised from investors. In other words, an incident occurs when an individual or team behind an NFT project fails to deliver on their promises after receiving investor funds.\u00a0<\/span>Typically, the founders will release a small collection of NFT to showcase a larger project with compelling benefits, such as exclusive access to events, blockchain games, or merchandise.<\/span> In many cases, pulling the carpet happens quickly. Besides, there are also cases of dragging the carpet open slowly and the project is quietly abandoned with little or no update or development. Plots to pull the carpet are carried out by an anonymous person or group, as this makes it easier to disappear without a trace.<\/span><\/p>\n

Signs of Rug Pull<\/b><\/h2>\n

You can see if the project is safe so you can invest in some of the following ways.<\/span><\/p>\n

Group and community research<\/b>\u00a0<\/b><\/h4>\n

One of the best ways to avoid falling into carpet drag scams is to do your due diligence on projects before investing. Thorough research on an NFT project should include learning more about the community and team investigation. Take a look at the organization’s social media channels, such as Twitter, Discord, and Telegram, for a better understanding of their development.<\/span> Legitimate projects of long-term value often have proven achievements and an established company behind them. Large and interactive communities can also be a good sign, but keep in mind that this can be created by fake accounts and bots.<\/span><\/p>\n

Route assessment<\/b><\/h4>\n

An NFT roadmap details the goals and strategies of an NFT project<\/strong><\/em> to build its long-term value. An NFT roadmap usually includes:<\/span><\/p>\n