Is The Cereal Club NFT Collection a Scam? NFT Ethics Thinks So

NFT Ethics points Cereal Membership NFT rip-off warning. In a Twitter thread to their 55 thousand followers, they produced a collection of points relating to the mission.

Moreover, they warned their followers to not mint the mission and said, “CerealClub that’s minting as we speak is a rip-off.”

NFT Ethics is a Twitter account aiming to ship legitimacy and scrutiny of NFT collections. Their mission is, “Uncovering inconvenient truths about this digital kingdom and its most influential gamers. To handle the moral points and foundations of Web3.” Now, NFT Ethics believes that the brand new mission is an NFT rip-off.

The Twitter thread goes into element about a number of points. Firstly, they stated there may be zero proof to again up claims of funding and buyers. Additionally they said, “Claiming they may use the earnings for charity as effectively – everyone knows that meaning.”

The thread goes on to say points on Discord. Apparently, Cereal Membership banned some individuals for asking reputable questions. NFT additionally takes subject with whitelist spots going to celebrities and never unique Discord members.

Solely time will inform if NFT Ethics is true to counsel that this mission is an NFT rip-off.

NFT Ethics says Cereal Membership is an NFT rip-off

NFT Ethics goals to cease scams and supply individuals the chance to keep away from shedding their cash. Nevertheless, they aren’t an official outlet. Maybe some type of regulation is inevitable. Considerably although, many are in opposition to exterior involvement and argue it defeats the aim of decentralisation.

Clearly, there are numerous points in Web3 relating to fraud and scams. Nevertheless, this occurs in all points of enterprise internationally. Some argue that we solely hear concerning the negatives of NFTs and Web3. Anytime a brand new monetary ecosystem arises, there’ll at all times be scrutiny.

NFT Ethics is taking over scammers, however it’s at all times vital to analysis any mission you have an interest in getting into. If the Cereal Membership NFT is a rip-off, NFT Ethics deserves recognition.