Stephen McCullough Exposed: Grape Crypto AMA Lies, Delays & Broken Promises https://t.co/aJhiSapbU9
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The reason NFTs are losing trust.
From this perspective, early NFTs were about communities centered around artists and art.
However, over time, it became increasingly commercialized, and many projects started issuing NFTs simply to make money.
Later, when NFTs were no longer selling well, a new meta emerged:
Selling NFTs by attaching token allocations to them.
A prime example of this is @JoinGrapes.
So why do teams launch NFTs with token allocations attached?
Most teams pay huge amounts of funds and token quantities to get their tokens listed on major exchanges.
Also, team tokens are locked up, so they cannot realize profits immediately.
So how do they monetize?
The answer was NFTs.
NFT floor prices are relatively easy to manipulate, and teams directly engage in market making.
When NFT prices rise, the marketing effect is maximized, and naturally more people buy them.
This alone is a huge profit for the team.
And in the final stage, when announcing token allocations or airdrops,
teams check how many NFTs they hold and distribute airdrops accordingly.
It is this kind of commercialized structure that creates token chart patterns like $Grape...
The reason people no longer believe in NFTs.
When we look at NFTs through this lens, the early days were driven by artists, creators, and genuine art communities.
However, over time, the space became increasingly commercialized, with many projects launching NFTs primarily to generate profit rather than build culture or creativity.
As primary sales began to slow, a new meta emerged, projects started offering token allocations to NFT holders as an incentive to drive sales.
@JoinGrapes is one of the most notable examples of this trend.
Here’s why teams began attaching token allocations to NFTs:
Most teams that plan to launch tokens must pay substantial amounts both in cash and token supply to get listed on major exchanges.
Their team allocations are typically locked for months or years, meaning they can’t immediately realize profits.
So how do they monetize?
NFTs became their indirect monetization tool.
They are easier to manipulate in floor price
When the NFT floor price increases, it generates hype and str
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