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This NFT Collection May Have Scammed $70 Million Dollars

This-NFT-Collection-May-Have-Scammed-70-Million-Dollars

Pixelmon’s founder was accused of scamming his investors of $70 million with his NFT collection after its initial reveal in late February 2022. The source of outrage was the crude style of the NFTs, as well as the fact that some seemed to be broken. 

Pixelmon’s NFTs

If Pixelmon sounds familiar, it may be because it’s a play off of Pokémon. Similar to Pokémon, these NFTs can be caught in-game and then sold, or traded, later on. Those who participate in the first drop are promised exclusive access to land on the game’s world, called Eden. Additionally, the first drop of NFTs would not be catchable in-game, making it a once-in-a-lifetime opportunity. 

So far, so good, right? Wrong! When Pixelmon dropped its prized and highly anticipated NFTs on OpenSea, the response was anything but enthusiastic. Pixelmon under-delivered with their NFT collection, leaving buyers frustrated and feeling scammed. Pixelmon responded to the uproar by issuing a public apology and explaining that the drop didn’t accurately reflect the final version of the Pixelmon NFT. On Discord, the founder called it a “horrible mistake.” 

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