Non fungible token. NFT scam background.

Key Takeaways:

YouTube investigator Coffeezilla accuses Rabbit AI of running an NFT scam linked to its previous project, Gama.
Rabbit AI, formerly Cyber Manufacture Co., raised $6 million for Gama, which CEO Jesse Lyu downplayed despite ambitious plans.
Concerns arise that Rabbit’s current projects may follow a similar pattern of hype and unfulfilled promises.

YouTube investigator Stephen Findeisen, better known as “Coffeezilla,” has accused the artificial intelligence company Rabbit of orchestrating a nonfungible token (NFT) scam and attempting to conceal it.

On May 21, Findeisen published a video on his Coffeezilla channel revealing Rabbit AI’s involvement in NFTs.

Rabbit went viral at the beginning of this year, raising $30m in venture capital and selling $20m in consumer products.

But most people don't know that the company Rabbit Inc used to be called Cyber Manufacture Co, and raised $6 million for an NFT project. This project was WILD pic.twitter.com/1aQXTSVysu
— Coffeezilla (@coffeebreak_YT) May 21, 2024

He pointed out that the company was previously called Cyber Manufacture Co. and had raised $6 million for an NFT project named Gama.

Rabbit AI’s founder and CEO, Jesse Lyu, later distanced the company from its crypto past, stating in Discord messages that the company would “never touch crypto” again.

Lyu described Gama as a “fun little project” he was involved with during the COVID-19 pandemic and claimed he left the project once it was open-sourced.

YOUTUBE INVESTIGATOR “COFFEEZILLA” ACCUSES AI FIRM RABBIT OF ORCHESTRATING NFT SCAM

– YouTube investigator Stephen Findeisen, known as “Coffeezilla,” has accused AI company Rabbit of orchestrating an NFT scam.

– Rabbit, formerly known as Cyber Manufacture Co., raised $6 million… https://t.co/JecAuMOzkU pic.twitter.com/WQd8JbGba0
— BSCN (@BSCNews) May 22, 2024

Despite Lyu’s downplaying of Gama, Findeisen shared recordings of Lyu discussing ambitious plans for the NFT project, including substantial investments to ensure Gama became a “next-level experience.”

Lyu mentioned that NFTs were just the beginning, with plans for the “Gamaverse” and innovative ideas about clean energy and Gama Coin.

Findeisen questioned where the $6 million raised for Gama went, especially since the project was portrayed as minor by Lyu.

He highlighted concerns that Rabbit, now developing its R1 product, might be following a similar pattern of overhyping its offerings.

Findeisen pointed out that many promises made for Gama did not materialize, drawing parallels to the hype surrounding Rabbit’s R1 product.

Additionally, WeGPT founder and CEO Josh Olin labeled Rabbit’s project as a “scam” on January 14, describing it as a quick cash grab aimed at baiting investors.

🚨 How To Spot an A.I. Grift 🚨

If you've ever noticed a sudden influx of endorsements for a new AI product, here's a structured approach to help discern the grifters from the genuine:

Comment Section Shutdown: A promotional video without the option to comment is a major red… pic.twitter.com/FN7AooPe4I
— Josh Olin (@JD_2020) January 14, 2024

Both Findeisen and Olin suggest that Rabbit’s activities and products may be misleading and potentially fraudulent.