Aaron Avruskin, co-creator of the banned Instagram account “@NFT” is back to garner investors for his latest Lil Baby NFT game project titled “Rollies”. The @NFT account was banned across Instagram and Twitter for allegedly promoting scams and rug-pull NFT projects.
Is the Lil Baby NFT Project a Rug Pull?
The @NFT Instagram account has a sketchy past. The handle falsely listed Mark Cuban as a co-founder of the project. At one point, the handle also used to charge upwards of $100,000 for paid ads. Furthermore, these ads were published without disclosure. The community accused the creators of the account of allegedly promoting scams and rug-pull NFT projects during their time of operation.
Now, one of the co-founders of the account Aaron Avruskin returns with his latest crypto venture. The project is a web browser-based crypto gambling game with rapper Lil Baby as a partner/collaborator. Titled “Rollies”, the NFT project has been in development since January 2022, and currently seeks $6 million in seed funding. Social media platforms banned the official in February 2022.
What Does the Banned Instagram @ NFT Instagram Founder Have to Offer?
The pitch deck claims Rollies has already secured Doodles, Pudgy Penguins, Sappy Seals, and other projects as partners in the endeavor. Although, some of the founders and teams across these projects have denied these claims. Moreover, the project promises its holders a “free” Lil Baby NFT drop. The deck by the banned @NFT Instagram founder claims that the Rollies project contains between 50,000-100,000 Lil Baby NFTs. The project also aims at sponsored tournament events and multiple NFT drops as its business model.
To add to this, Rollies also aims to “deploy subsequent funding” and launch a native token. The pitch deck does not explain any further tokenomics. Another “phase” of the project sees rapper Lil Baby launch a “culture fund” for the project. The fund, it seems, is to help “black and brown” entrepreneurs navigate the tech and business world of today. In a space that runs rampant with frauds/scams, it should come as no surprise to VCs and the community to dive deep into their research before investing. The Rollies NFT project also has Lil Baby’s reputation and name attached to it, and kickstarting a web3 project with the @NFT founders may not be the best idea.
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This article is educational material.
As always, make your own research prior to making any kind of investment.
