04/10/2021 Solana NFT project delivers emojis instead of promised artwork

Solana NFT enthusiasts have been left gobsmacked after a supposed 17-year-old digital artist allegedly took 1,000 SOL in a fake NFT project.

The artist was accused of what’s known as a ‘rug pull’ in the crypto community. A ‘rug pull’ is when a project fails to deliver, and absconds with all invested funds.

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Iconics had promised to produce 8,000 NFTs in the form of randomised 3D artworks of busts with a range of attributes. The project was due to launch on September 30, with 2,000 NFTs available for 0.5 SOL to those who had early access via a presale.

The 2,000 presale NFTs sold out quickly, and users waited eagerly for the reveal to see what they minted. Instead, minters who got early access through the presale received an NFT featuring 20 random emojis and quickly took to Twitter to express their frustration at apparently being duped.

Emoji NFT
Emoji NFT

Twitter user @adhcrypto took to Twitter to share an image of his costly emoji-based artwork

A user called ‘FreeCartel’ noted that the creators of the project were a father and son duo and that “ICONICS had all of the right signs of a good project“, further compounding the frustration felt by the community.

FreeCartel also listed a number of points that indicated theproject was possible a scam, including using an “on.fleek” domain to mint the NFTs, no community management and the use ofauto-approved transactions.

To add insult to injury, the creators had also said they reveal their identities after the minting process in a Discord faq.

Popular Solana NFT accountSOLBigBrainalso got caught up in the scandal, saying “Damn.. @IconicsSol just RUGGED. Did a presale for 2K at .5 and made off with I think 1000 SOL”.

“Sorry to anybody who took the L here. I minted a bunch also as art looked good. Lesson Learned,” they added.

Following the botched minting, the Discord chat channel was disabled, no further announcements have been made and its Twitter account deleted.

However, the Solana NFT community has since rallied and an array of projects have taken to Twitter to offer airdrops, 50% minting discounts and one-for-one swaps for those unfortunate enough to own a now dubiously iconic piece of Solana NFT history.

Arts

https://finance.yahoo.com/news/solana-nft-project-delivers-emojis-184340464.html

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Mars House
Mars House is the first NFT digital house in the world. Upon purchase of Mars House NFT, 3D files will be sent to the new owner by Krista Kim Studio Inc. for file upload to the owner’s Metaverse. Technical support for Mars House integration on Metaverse is provided. (Architectural Digest, March 14, 2021) “Kim ventured into NFTs while exploring meditative design during quarantine; her hope was to use the influx of digital life as an opportunity to promote wellbeing. Comprised entirely of light, the visual effects of her crypto-home are meant to omit a zen, healing atmosphere. The artist also partnered with musician Jeff Schroeder of The Smashing Pumpkins to create a calming musical accompaniment. So what makes the file a compelling purchase? Beyond the promise of buying into the lucrative NFT market, the home and all of the furniture in it can be built in real life by glass furniture-makers in Italy, as well as through MicroLED screen technology. Kim also has a strong visions the art being projected, as well. “Everyone should install an LED wall in their house for NFT art.” says the artist. “ This is the future, and Mars House demonstrates the beauty of that possibility.” The owner is in agreement to the following terms and conditions upon purchase of Mars House (hereby referred to as Mars House NFT): The collector agrees to own one copy of Mars House NFT on a single Metaverse platform. The collector is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio Inc. will provide technical support to upload and integrate Mars House NFT on a Metaverse platform. If/when Mars House is resold, the collector is required to delete all Mars House NFT 3D file(s) from his/her Metaverse, and provide verification of deletion to Krista Kim Studio Inc. before new 3D files are transferred to the new owner by the artist. The new owner is required to register Mars House NFT ownership with Krista Kim Studio Inc. Krista Kim Studio will send Mars House NFT 3D files directly to the new owner and provide support for Metaverse integration. This verified ownership transfer system will be appointed to Krista Kim Studio Inc. trusteeship, after 40 years of the date of the sale. Krista Kim Studio Inc. retains ownership of Mars House NFT copyright. All rights reserved. All reproductions of Mars House (NFT) in both digital and physical formats, are restricted. Mars House NFT physical furniture pieces, made of tempered printed glass in Italy, may be commissioned by the collector as NFT physical pieces.
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By OthersideDeployer