Internet influencer and self-help guru Tai Lopez has come under fire from the crypto community, particularly NFT enthusiasts, over an alleged scheme to defraud buyers using his OG-themed NFT project.
Problems for the social media guru started on Saturday after a former Coinbase developer flagged suspicious activity on the NFT payment code.
“Hilarious… The Tai Lopez NFT IMMEDIATELY siphons out the funds into their team’s wallet when you mint… Just so they can scam your eth just a little bit faster…”, tweeted the developer going by the name 0xBeans.eth, sharing screenshots of the code hours before NFT drop went live.
“At least he’s nice enough to refund you if you sent too much Eth. But of course, that’s only after he gets his share,” he added.
Lopez who rose to fame through his quest for the “Good Life” and is famous for his “here in my garage” ads where he shows off a fleet of supercars would later proceed with the live mint, presenting a collection of mind-boggling NFTs.
The Collection, which can be viewed on OpenSea consists of Silver “Mentorship” cards (Tier 1), Gold “Mastermind” cards (Tier 2), and Black “1 on 1 Mentorship” cards (Tier 3), but, there’s a catch.
Out of a total supply of 18,300NFTs to be sold, only 2,000 actually got minted despite the guru boasting of “crashing the blockchain” due to activity overload. That is barely 10%, and only one of the cards was actually minted during the 37 minutes live recording. Even more laughable is the story behind some of these NFTs.
According to the NFT’s official website, there were all these weird offers to buyers before the mint-like watching a movie with Lopez for buying an NFT for 19.2ETH ($50,707.78). The highest listing was for a 67.2ETH NFT ($177,477.22) which claims to secure one a mentorship meeting with the guru “at his personal office.” I mean, who in their right sense would pay such colossal amounts to go finger-painting with Tai Lopez?
The guru, who among other benefits promised to buy a Hotel, Nightclub, and a restaurant that will be exclusively owned by NFT holders has only managed to raise a little over $1.3 million, as the buyer turn out slumped, forcing him to set a floor price of just under 0.15 ETH.
According to Coffeezilla, an Internet Detective Exposing Scams, “the economics here make 0 sense,” he says. “What was a huge cash grab attempt by Tai has turned into a walking nightmare because the NFT community rightfully ignored this mint. Tai is left serving a hopelessly small customer base.”