ZachXBT Exposes Soulja Boy's Shady NFT Business
ZachXBT has caused a stir in the NFT world by bringing up questionable dealings, as identified when delving deeper into Soulja Boy's NFT business. It appears that, through Twitter, the rapper was behind 16 drops and 73 promotions. This revelation has left followers of the NFT world pondering, "What happened here, exactly?" The surprise has been intense, leading many to wonder what the full scope of the situation is.
Recent events have made evident the unfortunate disservice being perpetrated upon the loyal fanbase of Soulja Boy. Despite an attempt to enthrall buyers with a seemingly lucrative NFT offering, the rapper has left partakers of this investment with an ultimately devalued asset. This form of 'pump-and-dump' is a classic illustration of why transparency and accountability within the NFT sector is becoming a priority, now more than ever. Fans and investors have expressed major disappointment, a reflection of the incautiousness demonstrated by the artist when marketing the offering. The exponential rise of interest in the asset class only serves to amplify the requirement for caution and vigilance in the sector. As the movement of non-fungible tokens continue to chart a path of heightened popularity, regulations and reform to guard against unethical trading must become a priority.
Despite arriving with great enthusiasm and anticipation, Soulja Boy's instigation of RapDoge turned out to be detrimental for investors as it was immediately quashed come July 2021, resulting in mounting losses. Similarly, the profound public embarassment faced by claimants of ParrotsDAO was brought about by its presentation followed soon after by its sudden disappearance. Flokinomics, similarly, reached a whole new level of deprecation stemming from its sham-like nature - with the artist's endorsement proving to be immensely backfiring.
Despite Soulja Boy's dedication to producing and promoting NFTs, the industry has grown increasingly guarded in their warning regarding the rapper. Recent data from ZachXBT, an esteemed on-chain research analyst, suggested that the promotional fees for Instagram plugs could reach as high as twelve grand throughout the last crypto bull run, whereas Twitter ads were indicated to cost up to ten thousand dollars. These numbers suggest that rather than catering to the interests of his fans, Soulja Boy is clearly more interested in profiting from them.
It could be argued that of late the public have been decidedly on edge to see Soulja Boy's enthusiasm for partaking in questionable acts. NFTs have provoked some platform shenanigans, thus it is important for those in the public eye to display vigilance when it comes to pushing their projects forward. Consequently, followers anticipate that Soulja Boy will take responsibility for his misdeeds and eventually re-establish lost trust.