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Concept
Rug Pulls
Vendors of an NFT would build a lot of hype through an impressive initial showing of their artwork, funding, or their doxed team (revealed identities of who is behind the project.) However, shortly into the NFT's lifespan, and after the hype has been generated the owner would shut down the project and pocket all the money they made and hide. Leaving the buyers with a worthless product.
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Updated 2022-04-21
Tags
Cryptoeconomics
Economics
Social Science
Empirical Science
Science