The Non-Fungible Tokens (NFT) are on its boom, and so do Marvel. So, it was basically a matter of time until someone came up with NFTs based on Marvel’s stories and characters. Or, at least, it seems like it. Recently, a partly anonymous team launched the new NFT Marvel Marketplace on Binance Smart Chain (BSC). Sadly, this “NFT Marvel” project is already showing the classical signs of any other scam.
The webpage, created barely at the beginning of this month, offers a “100% Community-driven token for Marvel’s fans”. Because isn’t just about NFTs: the team is selling their native tokens (MV) and making airdrops promises. This is supposedly a space for artists worldwide to sell their own Marvel creations in the form of NFTs, but they’re focusing more on the presale than in the marketplace (not available yet).
By using the MV token, they’re planning to take a 6% fee for three different purposes. The first one would be distributing 2% to all the holders. The second one is for adding liquidity in a future DeFi pool on PancakeSwap, and the last 2% would be burnt. According to the whitepaper, the functions of the MV token include create and use NFTs, pay gas fees, and, strangely, “purchase various services in the ecology”. Maybe they meant “in the ecosystem”?
So, the scam signs start. The team is specified on the webpage, but there are no clear photos or further information about them. They can’t be found on LinkedIn either, and they couldn’t be reached at all through Telegram, as we tried from Alfacash. Probably, nobody knows who they really are. And no, clearly, they’re not related to Marvel or Disney.
Indeed, previously, DC and Marvel have warned their artists (and everybody else) against making profits with their trademarks in the form of NFTs. Therefore, in the first place, this marketplace wouldn’t be legal.
NFT Marvel Marketplace is likely a scam
Besides the team and copyright issue, we have a big problem with the smart contract of the project. According to the security audit by TechRate (ironically, commissioned by the NFT Marvel team), the contract isn’t exactly safe or decentralized. The owners can change almost everything inside the features, and they can regain these privileges even if they lose them.
Beyond this, the marketplace DxSale Beta, in which the MV token is being sold, clearly warns that this project is framed inside a Custom Contract. These are contracts that “can be manipulated to block transfers, prevent selling, or other behavior. Please DYOR!”.
Speaking of selling, the team made a recent (and very bad) announcement through their Telegram channel:
“$MV is being panic sell. We will block Chat for the time being. The project is still being developed according to the roadmap (…) Some technical issues occurred causing us to sell off. The team’s token is still intact. We will continue to carry out the work according to the Roadmap. Airdrop will be paid on June 26, 2021.”
The Telegram group has over 65,000 members, but most of them seem to be bots, given their illogical answers. We made a quick poll for the real members, and we found out that 86% feel scammed or have bad suspicions about the project.
Last June 19, they launched a pre-sale and raised over 266 Binance Coin (BNB) from investors. That’s roughly $77,000. Nevertheless, the buyers are still waiting for their MV tokens. Or any official answer, since even their Twitter account was closed. We can add that no admin or developer appeared to clear up our doubts.
Featured Image by Ralph Leonard Poon / Pixabay
Originally published at https://blog.alfa.cash on June 23, 2021.