Oct 2021 - Solana Towers NFT Rug Pull - $282k (Global)
"The first Utility NFT Solana Towers Breaching the gap between metaverse and NFTs"
"Solana Towers is the first Utility NFT that generates recurring revenue for the holders by investing in metaverse real estate."
"We aim to be the first investors in the metaverse real estate industry and acquire and develop exclusive locations in Decentraland/Sandbox.
This project is a venture membership, which will enable everyone to be part of the ST Club and receive royalties, make decisions and take ownership of their space.
The metaverse is an incredible place and being at the forefront of the revolution, will allow us to play a leading role in shaping the future."
"This project is a venture membership, which will enable everyone to be part of the ST Club and receive royalties, make decisions and take ownership of their space.
The metaverse is an incredible place and being at the forefront of the revolution, will allow us to play a leading role in shaping the future."
"Inital NFT offering for early investors. Each investor will receive a special NFT that will grant access to the HQ of Solana Towers
Each NFT will have access to their own space and will receive revenue from the building but also will receive revenue from all subsequent buildings"
"Acquisition of Decentraland/Sandbox plot. Start of revenue sharing airdrops. Suddivision of spaces and creation of the metaverse building.
Creation of the Metaverse assets, design and building of the metaverse world spaces. Collaborations with SOLANA Blue Chip projects, setup public galleries in the public floors, and booking events in the penthouse floors."
"Beginning of development of Real Estate Management Platform for Metaverse Spaces (REMPMS). Enable the token holders to customize, manage, merge and upgrade their spaces.
Enabling multiple revenue flows for the token holders. Community created assets will be available for use and revenue will be split among NFT holders"
"Metaverse Investment Fund setup for each holder to invest in the metaverse world.
The Solana Towers Venture Fund will be the first VC DAO in the metaverse, allowing every holder to stake their tokens and invest in other the metaverse RE, NFTs projects and other Defi projects"
"I was rugged for 22 SOL by BallerApeClub and another 2 from SolanaTowers."
Further Analysis
Solana Towers was a new NFT project launched in October 2021, which made many big promises and appears that they failed to deliver. Investors reportedly gave $282k worth of Solana to the project. The website and Twitter are both online. Some other projects gave free NFTs to the victims. It's not clear if any investigation are underway into the team.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
salmonfisker Shibaswap MetaMask Phishing > > < < My Farm Pet Flash Loan Exploit
Sources/Further Reading
@irblack Twitter (Dec 31)
Worldwide crypto & NFT rug pulls and scams tracker - Comparitech (Dec 31)
https://nftcalendar.io/event/solana-towers-mint/ (Dec 31)
https://web.archive.org/web/20211225135204/https://solanatowers.com/ (Dec 31)
@TheVsCrypto Twitter (Dec 31)
@Beffrey_Jezos_1 Twitter (Dec 31)
@oka_crypto Twitter (Dec 31)
@oka_crypto Twitter (Dec 31)
@ImRektJamesToo Twitter (Dec 31)
@ItsJayFlowyo Twitter (Dec 31)
@SOLBigBrain Twitter (Dec 31)
@NFTWhitelistSer Twitter (Dec 31)
@AmfibiusMusic Twitter (Dec 31)
@nftsolana_io Twitter (Dec 31)
@streetleitzph Twitter (Dec 31)
@nft_who Twitter (Dec 31)
@JG3693 Twitter (Dec 31)
@PixacottaArmy Twitter (Dec 31)
@0xKrish_ Twitter (Dec 31)
@JG3693 Twitter (Dec 31)
@1omcawte Twitter (Dec 31)
@ThunderbirdSOL Twitter (Dec 31)
@solnftradar Twitter (Dec 31)
@search Twitter (Dec 31)
Solana Towers | Discord, Ways to communicate, Messages (Dec 31)
@solanatowers Twitter (Dec 31)
 t.me/QuadrigaInitiative
|
 /r/QuadrigaInitiative
|
 @QuadrigaInit
|
 info@quadrigainitiative.com
|