As an experienced financial analyst, I find the allegations against Rabbit and its founder Jesse Lyu quite concerning. Based on Coffeezilla’s investigation, it seems that Rabbit may have been built on the remnants of the GAMA NFT Project, which was accused of being a $6 million scam in 2021.
Expert: Coffeezilla, an influential YouTuber and web investigator, has publicly accused AI firm Rabbit of involvement in a $6 million non-fungible token (NFT) scam. The company is under scrutiny for its alleged role in the GAMA NFT Project scandal, which is considered a deception based on previous falsehoods.
Down The NFT Fraud Rabbit Hole
Stephen Findeisen, commonly recognized as Coffeezilla, recently released a YouTube video implicating Rabbit Inc. for potentially being established on the foundation of an alleged NFT scam from 2021. The online detective unveiled that Rabbit Inc. appears to be concealing its connection to the GAMA project.
As a researcher delving into the intricacies of the AI industry, I came across an intriguing revelation from Coffeezilla. He disclosed that the company Rabbit, which has successfully secured over $30 million in venture capital funding, had previously operated under a different name – Cyber Manufacture Corporation.
In the year 2021, GAMA’s next-generation NFT initiative, spearheaded by the company, amassed more than $6 million in funds. This ambitious project was characterized as a decentralized entity, harboring an ambitious objective of sending approximately 10,000 astronauts into space for the purpose of harvesting extraterrestrial energy.
During that period, Jesse Lyu, the founder of GAMA, made bold statements about their upcoming NFTs. As reported by a YouTube investigator, Lyu asserted that they would develop “the first cryptocurrency with a carbon-neutral footprint, fueled entirely by solar energy.”
As a crypto investor, I initially bought into the vision of the founder who promised to create a clean energy grid using NFT sales. The unique selling point was that the energy generated would be utilized for mining GAMA tokens. However, things didn’t go as planned. Despite my expectations, the GAMA tokens were never launched, leaving me and other investors in the dark about the project’s status. It appeared as though the initiative had been left abandoned.
As a crypto investor, I’ve come across rumors that the project GAMA had been abandoned. However, the team reached out to clarify this misconception. They explained that instead of abandoning it, they decided to “open-source” GAMA. Moreover, they emphasized that no token promise was ever made, as Lyu stated back in 2021 that his words were subject to change. The team also highlighted their commitment to living in a country where “free speech” is valued.
As an analyst, I uncovered some intriguing findings during my online investigation. The open-source engine, which I put through extensive testing, unfortunately proved to be inconsistent and malfunctioned frequently. On a related note, I came across messages from Lyu in Discord, where he mentioned that the project’s cryptocurrency was part of their future plans.
Following this revelation, Coffeezilla raised doubts about the fate of the $6 million investment and the credibility of Lyu’s latest venture.
Another Rabbit In The Hat?
The founder of GAMA has started a new endeavor outside the realm of NFTs. This new business, called Rabbit, is centered around advanced artificial intelligence (AI) technology. In the beginning of 2024, Rabbit gained significant attention and secured $30 million in venture capital funding, as well as generating over $20 million in sales from consumer products.
As a researcher studying technology trends, I’ve observed that Rabbit unveiled their AI personal assistance device, named Rabbit R1, on Easter 2024. Regrettably, this project has faced significant criticism due to its failure to meet the grand expectations set prior to its release.
As an analyst, I’ve noticed a consensus among tech reviewers that R1, produced by Rabbit, represents a growing trend of releasing incomplete or “unfinished” products. Marques Brownlee, a popular YouTuber, even went so far as to label Rabbit’s product as “barely reviewable,” and the epitome of delivering half-finished goods in an attempt to gain a competitive edge.
Additionally, Josh Ollin, the founder and CTO of WeGPT, criticized the announcement of R1 as a “scam.” On various occasions, he emphasized that the excitement and engagements with the company were largely generated by “false impressions” created by bots.
Ollin accused Lyu of engaging in deceptive NFT business dealings and pointed out that his questionable past actions had negatively impacted their latest project. Specifically, he cited instances of false engagement, bogus bot followers, misrepresented tech stacks, and overpriced vaporware.
Coffeezilla stated a similar sentiment in his video:
Numerous promises made by Gama went unfulfilled. The relevance of this to the R1 project extends beyond the shared foundation; both are excessively hyped up in a comparable manner.
I’ve observed that Lyu has scaled back his association with GAMA NFT, describing it as a “quirky pastime” he engaged in during the pandemic period.
In the end, he believes it’s crucial that users be aware of the company’s past behavior towards investors, specifically in relation to the GAMA NFT project.
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2024-05-22 22:17