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NBA Players Get Involved in a $1.4M NFT Rug Pull -Breaking

by Mike Robinson

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NBA Players Participate in the $1.4M NFT Rug Pull
  • NBA players take part in a rug pulling competition.
  • It cost almost $1.4million to pull the rug.
  • The base of the project was Players Only.

Lance McCullers Jr. and Terrence Ross were among the professional athletes involved in an NFT rug pulling.

The news about the rug pull surfaced in a series of tweets by an account under the name “ZachXBT”. According to the first tweet, Players Only was responsible for organizing the pull of a NFT rug. It cost $1.4million.

Second tweet stated that Players Only launched via Doge Pound’s launchpad in December 2021. It also stated that the launchpad advertised itself as “NFTs for sports fans from the players” with utility, such as metaverse/IRL events, merch, autographs, and giveaways — all of which each athlete founder would be closely involved.

The third tweet mentioned that the stock was initially set at 10,000, but was reduced to 4,456 NFTs. However, it still generated $1.4m. Tweet also said that everyone holder would be eligible to win.

Multiple tweets were sent by the various athletes to promote the launch of the project. According to the fifth tweet, which says, “Right after minting concludes, the funds get transferred away to each of the athletes, Doge Pound, and the other team members Brooks/Drew.”

ZachXBT continued to recount what had occurred:

In February, it starts to turn bad. People don’t receive giveaways, athletes are never hanging out or in the Discord, mods quit, excuses pile up and delays begin to happen. Contrary to what was promised.

Author also stated that some people claim they did not receive anything from the promises made to them.

The same concept went on for the next two tweets, yet the last tweet said, “It’s clear the athletes haven’t put anywhere near $1.4m into the project. So many holders haven’t received items/events from giveaways they had won while athletes profited 5-6 figs each. It’s sad to see athletes from @NBA @MLB screw over fans like that w/o being reimbursed.”

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