🥷 A new way scammers get their victims.

May 27, 2022

What up, family👨‍👩‍👧‍👦,

Seedphrase Daily here 👋; happy Friday, don't go too crazy this weekend because Monday, you have to tune back in for the recap!

Today's estimated read time is about 3 minutes and 26 seconds. Stay tuned to where we talk about:

  • 🥷 A new way scammers get their victims.

  • 🔮 A step towards mass adoption

  • 👟 Nike sold an NFT sneaker for $134,000

  • 👨‍🏫 Defining and Identifying Valuable NFTs

A new way scammers get their victims. 🥷

First, it's the fake websites, Twitter accounts, and Telegram chats. Now we have scammers faking videos of influential people to shill their projects. Not going to lie; this is clever 😂. The scammers took a video of Elon Musk during an interview and manipulated the audio, making it seem like he's encouraging viewers to invest in the BitVex platform.

On the Bitvex website, they attempt to convince potential victims to invest in their crypto by listing Musk as "CEO of Tesla Motors & BitVex" and providing a fake quote by the businessman which states that this project "is a revolution that will provide everyone with money and provide the world with new opportunities."

How can we avoid crypto scams?

If you're looking at something that sounds too good to be true, it most likely is. However, always research whatever you're looking at because it will give you the answers you're looking for. Most of the time, the scams are already being talked about on social media like Twitter, where you'll run into discussions of scams going on within the community!

"How can we trust anyone in this space then?"

Don't. You can use people as sources but ultimately you have to trust yourself that you'll make the right call and if you don't learn from your mistake. 🤝

A step towards mass adoption 🔮

The Twitter user @Michael _LIttig has been helping refugees worldwide over the past 12 years. He recently went to Africa to onboard refugees onto Web3. He educated people on the blockchain, letting them develop skills that could get them working when going to a different country.

Refugees are typically forced to travel light and leave behind or lose things such as diplomas and certifications. Micheal actually solves this problem by permanently uploading their certificates and identity card onto the blockchain to own and verify whenever necessary, which could result in getting a job more manageable when moving or buying a house. He also minted a certificate of participation in the workshop as an NFT to give out to his students.

How this is a step forward for Web3

To promote mass adoption of Web3, we need to create use cases of this technology that allows people to opt-in in a way that genuinely improves their lives. Students learning & developing skills in the blockchain industry can help them with potential Web3 jobs and, on a bigger scale, let them be in control of their lives and take what's fair! Some people's diplomas are trash when they move countries and are forced to work under their education. 👨‍🏫

Nike sold an NFT sneaker for $134,000 👟

In April, Nike released its first collection of virtual sneakers, called Cryptokicks, which contained 20,000 NFTs, including one designed by the artist Takashi Murakami that AliSajwani bought for $134,000.

Why would anyone buy a $134,000 digital sneaker?

As Nike's sneakers are currently a collectible, the company plans to release utility for their collection with RTFKT. However, the digital sneaker can be used as a scarce collectible for NFT holders, community, or even status.

We've seen the 1,000 NFT sneakers from STEPN, a fitness app that rewards runners with cryptocurrency for each step they take. Will Nike plan on onboarding the same concept as STEPN to give utility to their users? This could be worth following. 👀

Defining and Identifying Valuable NFTs 👨‍🏫

Just like we promised in our last email. This is how to find yourself valuable NFTs.

Obviously, the rarer an NFT is, the greater the value and the price. All the NFTs are unique, but as this digital landscape is expanding, it is becoming clear that some are rarer than others. For example, all the 10,000 unique characters in the CryptoPunks will have different traits or attributes. Still, some of these attributes are rarer than others within the same collection, making them more valuable, and they end up selling for more.

OpenSea creates wonders in a situation like this by providing you

1. Navigate to the OpenSea console and enter the desired NFT in the search field.

For example, we have entered EtherBear #3488 NFT in the search that looks like this:

2. As a result of the previous step, you will be able to view the unique properties and attributes of this NFT.

3. The EtherBear #3488 has eight different traits, of which the rarest one is the Green Apron - only 3% have this trait in the collection. You can click on this specific trait to view other NFTs having this attribute.

You can also view all other NFTs carrying similar traits.

In this manner, you can analyze the prices of other NFTs in the collection having a similar rare trait and confirm if you can snipe a good deal.

The table summarized below provides additional details on the methods you can adopt to identify valuable NFTs:

NewSeeds:

Google seeks talent to lead global Web3 team. If you apply shill Seedphrase Daily 🦍

That’s a wrap for today! Who do you think scammers will impersonate next to pump their bags? My bet is Gary Vee LOL. Enjoy your weekend but don't get too messed up <3 And make sure to follow us on Instagram and Twitter.

With that being said,

See you Monday! ✌️ 💎

Meme of the Day

Pure dopamine.

Disclaimer

None of this is financial advice. This newsletter is strictly educational and is not investment advice or solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research!

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