BAYC: Is it a scam?

By Rupanshu kumar | Rupanshu-kumar | 8 Oct 2023


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Hello guys, 

Looking at the major causes, I think BAYC and MAYC are nothing but scams.

Back in the day, NFTs projects were one of the best investments in Web 3.0. The craze for NFTs art and collection was so high that the price of each NFT went into millions. A lot of projects came out and started to raise funds. A number of collections started their own community, showing themselves as the future of Web 3.0. From NFTs to tokens, they started to explore the market in every aspect to grab a lot of funding from the investors. 

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BAYC and MAYC are two of them. They started as a NFT collection, built a club for members only, provided all the investment in the market from tokens to metaverse space, and people can also buy other NFT projects in their fractional tokens, which are believed to be a fraction of their NFTs, like HIBAYC, HIMAYC, etc.

I also want to be a member of that club, but as I started to breakdown their organisation, I figured out why everything about them is so secretive in the market, from their creators to their owners; none of them wanted to show their real name. From every possible way on the internet, they advertise about their silly products and dumb NFTs; they even sell their merchandise that costs over $100.

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I don't understand the uniqueness of their tokens, as they charge a massive fee on every transaction. All they do is manipulate their token price to earn a big margin for themselves and let their investors suffer a loss.

In my opinion, all the NFTs are not just a tool to transfer money in digital form, just like physical painting in the real world. As an investor in their token, they don't seem to be a good investment.

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That's for today guys, see you soon.

Thanks for reading.

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Rupanshu kumar
Rupanshu kumar

From Small Beginnings Come Great Things.


Rupanshu-kumar
Rupanshu-kumar

From Small Beginnings Come Great Things.

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