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There are scams to be aware of when dealing with nfts

By
Managing Real Estate Broker with ERA American Real Estate

I am sharing this in hopes that a member will read this in the AR community and or someone might look up when starting nfts in AR the #NFT group with this post included  https://activerain.com/groups/NFT and or a google result pop up

 

1. You receive a tweet with you tagged in it asking a question for example about a popular nft thats doing well in this case over the weekend I received the tweet about a recently released Rugrats, asking cant we pull these into opensea.

The question being if the nft is on another marketplace how can we move it to another marketplace (thats what they were asking without asking) like the largest marketplace currently opensea.io I understood the question and I have moved nfts for example from Draftkings/Autograph oncyber.io nft trophy gallery to opensea.io as its a bigger marketplace and could have more exposure for the gallery nft and I placed it for sale as I have multiple and purchase some that I plan to sell over time. I was then able to feature it on my profile landing page on opensea.io as well.

2. The scammer provided a link in the tweet that showed as Nickelodeon.xyz (which is the correct address) one common way they get to steal your nft is to send you to an address missing one character and they have cloned the website to look the same as the real website. Many sites use the xzy its currently I would say trendy.  If you notice in metamask it shows a different website address that is requesting approval for the transaction from me clicking the mint button on their website, what this means is that they were hiding (masking the website address) of what website I am actually interacting with for the transaction and about to interact with the smart contract link tied to their website for minting. (notice the request https://xn--

3. If you notice the approval request is asking for transfer of my Vee friends 2 which is a popular nft that I own in my collection that has nothing to do with this minting. 

4. So what do you do, I went to the projects discord provided a screenshot of what the account was that sent it and what they were trying to do so they could kick any bot from their discord and run a check for links.

I tagged a security firm that could check them out right away with the tweet @CertiKAlert and report them to twitter to get them suspended which has already happen.  https://twitter.com/CavsTheBlockFan/status/1561120523681144832

5. How this works is that popular nfts can sell out in a matter of minutes and scammers know that people get in a hurry to mint so they can get one as mint is sometimes 1/10 or 1/100 of the going value of the nft. Just take a second double check things, what was an extra step was that this twitter account has 100k followers, keep in mind anyone can buy followers for twitter on bot farm sites and actively maintained accounts from fiverr and other place so socials arent always a fool proof way to verify. (also dont buy followers its against terms of service for twitter if you were thinking about picking up a boost)

Posted by

Brandon Jordan, Realtor,E-PRO,ERA American Real Estate
 

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Brandon Jordan 
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ERA American Real Estate
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Comments(3)

John Pusa
Glendale, CA

Hello Brandon Jordan thank you for the warning about scams to be aware of when dealing with NFTS.

Aug 22, 2022 01:44 PM
Brandon Jordan

Thank you for checking out the post hopefully someone avoids falling for that.

Aug 22, 2022 02:04 PM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Brandon,
Is there a single industry that the scammers have not infiltrated?  I think not.

Aug 22, 2022 07:16 PM
Brandon Jordan

Bad apples in every basket. Agree 100%.

Aug 23, 2022 08:40 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Wow, NFTs sell out in minutes? There is so much I don't know about this industry.

Aug 23, 2022 04:55 AM
Brandon Jordan

The ones with existing projects that have done well do, while there has been a correction this year projects like Bay Ape Yacht Club if they release anything people line up. This was a record in May for single day sales.  https://www.coindesk.com/business/2022/05/01/bayc-team-raises-285m-with-otherside-nfts-clogs-ethereum/

Aug 23, 2022 08:44 AM