June 25, 2024

Internet investigator Coffeezilla has called out AI company Rabbit for reportedly being built on a NFT scam worth $6 million. The accusation surrounds the company’s alleged involvement in the fraudulent GAMA NFT Project.

Deep Dive Into Rabbit Inc’s Suspected NFT Fraud

Coffeezilla, whose real name is Stephen Findeisen, dropped a revealing YouTube video claiming Rabbit Inc. rose from the ashes of a suspected 2021 NFT scam. In his [YouTube video], he indicated that Rabbit seems to be concealing its connection to GAMA.

The video sheds light on Rabbit’s former name, Cyber Manufacture Corporation, and its fascinating history. Notably, the company drummed up over $6 million in 2021 for their transformative NFT project called GAMA. Their ambitious plan featured a decentralized organization that would send 10,000 astronauts to collect energy from space.

Jesse Lyu, the founder of GAMA, was prone to making audacious claims. For instance, he pledged to develop the world’s first carbon-negative cryptocurrency powered by solar energy. Furthermore, the proceeds from the NFT sales were supposed to fund a clean energy grid owned by the NFT purchasers. This energy would mine GAMA tokens, which unfortunately, never materialized, prompting allegations of scam.

Rabbit’s team responded to Coffeezilla’s comments saying that the GAMA project hadn’t been abandoned but “open-sourced,” and the promise of a token was far from final. Despite this defense, Coffeezilla’s investigation found their “open-sourced” engine repeatedly crashed during tests, raising suspicions.

Coffeezilla deemed Jesse Lyu’s new project questionable due to the alleged mismanagement of GAMA’s funds.

Hat Trick or Deception?

GAMA’s founder has now moved onto a different project focused on AI technology named Rabbit. The company burst onto the scene in early 2024, raising $30m in venture capital and notching up more than $20m in consumer-product sales.

Rabbit put its AI personal assistant, Rabbit R1, on the market during Easter 2024. However, their new product has been under scrutiny for failing to live up to expectations. Many tech experts singled out R1 as another case of releasing half-baked products, accompanying a negative trend within the industry.

Josh Ollin, founder and CTO of WeGPT, warned consumers that R1 was a scam at its announcement. He also raised concerns about the hype surrounding Rabbit, accusing it of being artificially inflated by bots.

In conclusion, despite their new undertaking, Coffeezilla believes it is significant for potential investors to know about Rabbit Inc’s past allegations and the implications of such allegations.

Frequently Asked Questions

What is the GAMA NFT Project?

The GAMA NFT Project was a proposed initiative by Rabbit Inc (formerly known as Cyber Manufacture Corporation) in 2021. Its grand plan was to establish a decentralized organization that would send astronauts into space to gather extraterrestrial energy. The project was to be funded by NFT sales.

Why is Rabbit Inc under scrutiny?

Rabbit Inc is under scrutiny for alleged involvement in a NFT scam. Their GAMA NFT Project reportedly raised over $6 million, but most promises made were not delivered upon, including the development of a token. The company is also suspected of releasing their AI personal assistance device, Rabbit R1, incomplete.

What is Coffeezilla’s involvement in this matter?

Coffeezilla is an Internet investigator who exposed Rabbit Inc.’s alleged fraudulent activities. The investigator highlighted Rabbit Inc’s link to an alleged NFT scam from 2021. Coffeezilla’s findings suggest that the company’s “open-sourced” engine was non-functional, furthering suspicion.