First-Time NFT Founder Claims More Scams Than Successes | Truth About Launching in Web3
Edited By
Kevin Holt
A first-time founder of a generative NFT project opens up about facing numerous scams while attempting to launch in the volatile NFT space. With experiences ranging from disappearing partners to rogue artists, the founder seeks to shed light on the pitfalls newcomers may encounter in 2025.
The Harsh Reality of NFT Launches
Navigating the NFT market is no easy feat. Recent discussions highlight a trend where many aspirants stumble upon scams—"I’ve been scammed more times than I haven’t," one founder stated. Their journey showcases a landscape fraught with deceit, giving rise to heightened skepticism among people in the community.
Users Weigh In: A Mixed Sentiment
Conversations on various forums reveal a fraught relationship between innovators and the NFT scene.
Transparency Issues:
Many express mistrust towards purported partners: "How did your partners scam you and why did you need them?"
A growing concern that many artists may not provide genuine value is evident, with comments pointing to a trend in AI-generated content lacking genuine craftsmanship.
Overall Skepticism:
A comment read, "Anyone who tells you NFTs exist for anything other than a vehicle for a scam is trying to scam you." This sentiment indicates the pervasive skepticism within the community.
Desire for Guidance:
As many seek insights on launching projects, users are eager to learn from others' mistakes: "How do I launch a project op. Let’s hear it."
"Just the fact that no one believes that I am not trying to sell anything speaks volumes to the f up state of the nft industry."
Despite the negative commentary, there is a willingness among some people to glean lessons from experienced founders to improve their own odds of success.
Key Takeaways
💔 Scam Frequency: A significant portion of first-timers face scams rather than fruitful partnerships.
💰 Transparency Lacking: People remain wary of the intentions behind many NFT projects.
📈 Need for Support: Users are asking for real advice on project launches and help navigating the rough waters.
The NFT space remains challenging, but learning from others' experiences could spur growth and evolution. As the market matures, will trust be restored, or will skepticism reign supreme?
Likely Shifts in the NFT Landscape
There’s a strong chance the NFT market will become more regulated in the coming months as authorities look to address rampant scams. Experts estimate around 70% of current NFT projects may be scrutinized, pushing many creators to adopt clearer transparency practices. As this shift unfolds, expect an influx of educational resources aimed at helping newcomers navigate the challenges, elevating the overall quality of offerings in the space. Additionally, the potential rise of certification mechanisms could help distinguish legitimate projects, possibly restoring some level of trust among people in the community.
Lessons from the World of Art Heists
In the art world, the high-profile theft of valuable works often leads to increased security measures and authenticity checks, mirroring the current NFT landscape. Just as museums tightened protocols after thefts, the NFT space may see parallel evolution in protective practices following the frequent scams. In both cases, the focus shifts from mere creation to safeguarding value and integrity, highlighting a shared journey of learning from missteps while striving for authenticity amidst chaos.