Youtuber and Web investigator Coffeezilla has known as out Synthetic Intelligence (AI) firm Rabbit for allegedly being constructed on a $6 million non-fungible token (NFT) rip-off. The corporate is accused of being liable for the GAMA NFT Mission “fraud” as a part of a historical past of lies.
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Down The NFT Fraud Rabbit Gap
Stephen Findeisen, higher referred to as Coffeezilla, printed a YouTube video calling out Rabbit Inc. for being constructed on the stays of an alleged NFT fraud from 2021. The web investigator revealed that the corporate is seemingly attempting to cover its ties to the GAMA challenge.
Coffeezilla unveiled the depth of the AI firm’s rabbit gap by claiming that, regardless of elevating over $30 million in enterprise capital (VC), Rabbit was known as Cyber Manufacture Company.
In 2021, the corporate raised over $6 million for its “next-generation NFT Mission GAMA.” The challenge was described as a decentralized group “with the grand purpose of sending 10,000 astronauts into area to gather extraterrestrial vitality.”
On the time, GAMA’s founder Jesse Lyu would make “wild guarantees,” claiming the NFTs have been simply the beginning. In response to the YouTube sleuth, Lyu declared they might create “the first-ever carbon-negative cryptocurrency powered by our solar.”
The founder promised to construct a clear vitality grid by NFT gross sales owned by NFT consumers. The grid’s vitality could be used to mine GAMA tokens. Nonetheless, the tokens have been by no means launched, and the challenge gave the impression to be deserted.
Its staff replied to Coffeezilla’s request for remark, stating that GAMA was not deserted however “open-sourced.” Furthermore, they claimed a token was by no means promised, as Lyu mentioned in 2021 that his phrases weren’t last. The staff added that they stay in a rustic that “values free speech.”
Nonetheless, the web investigator discovered that the “open-sourced” engine continually crashed and was non-functional after a number of checks. He additionally highlighted that Lyu acknowledged in a number of discord messages that the challenge’s cryptocurrency was a part of the roadmap.
Based mostly on this, Coffeezilla questioned the place the $6 million in funding went and whether or not Lyu’s new challenge ought to be trusted.
One other Rabbit In The Hat?
GAMA’s founder has launched into a brand new challenge unrelated to NFTs. His newest firm, Rabbit, focuses on AI expertise. The corporate went viral in early 2024, elevating $30 million in VC and promoting over $20 million in shopper merchandise.
Rabbit launched their AI private help system, Rabbit R1, on easter 2024. Nonetheless, the challenge has acquired lots of backlash for not dwelling as much as the hype and guarantees.
A number of tech reviewers concurred that R1 was a part of a development of releasing “unfinished” merchandise. In response to YouTuber Marques Brownlee, Rabbit’s product was “barely reviewable” and the head of “delivering barely completed merchandise to win a race.’”
Furthermore, founder and CTO of WeGPT, Josh Ollin, known as the challenge a “rip-off” when R1 was introduced. He additionally identified on totally different events that the hype and interactions across the firm have been “faux impressions” from bots.
Ollin known as Lyu an “NFT grifter” and acknowledged that his previous conduct affected the brand new challenge because of the “shady insincere fraudulent enterprise practices on show (faux engagement, faux bot followers, faux tech stack, overpriced vaporware).”
Coffeezilla acknowledged an identical sentiment in his video:
So lots of the guarantees of Gama didn’t occur. That is related to the R1 not simply because this challenge is constructed on the skeleton of that rip-off challenge, it’s additionally as a result of the R1 is overhyped in an identical method.
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As famous by the web sleuth, Lyu has diminished his hyperlinks to GAMA NFT, calling it a “enjoyable little challenge” he was “concerned with” through the COVID-19 pandemic.
Finally, he considers it necessary for customers to know the corporate’s “historical past of abandoning buyers like they did with GAMA NFT.”
Featured Picture from Unsplash.com, Chart from TradingView.com
