CEO and founder of NFT marketplace aggregator Genie teased the public yesterday with a tweet featuring no context other than “$Genie.”. Unfortunately, the tweet sent Twitter into a frenzy of misconceptions and scams trying to capitalize on the supposed launch of the genie token.
Back In The Bottle
Afterward, the CEO sent out another announcement stating that Genie does not have an official coin at this time.
PSA on $GENIE. While we’re thankful for the community’s enthusiasm, we DO NOT have a token at this time. We’ve noticed that bad actors are trying to trick people with fake tokens. [email protected]_eth
Users found the CEO’s initial tweet to be no more than a reckless action. As a misleading tweet from a founder to a community large community can have consequences. However, others find that those who simply spend money without doing the proper research are at fault. While Twitter can host a mountain of helpful information, we must remember its true function is that of a social media site.
As fake news and scams evolve: Never Trust. Only verify!
What Does Genie Do
Genie started as the first-ever NFT marketplace aggregator. Confusing? Don’t worry; let’s break it down.
Basically, Genie acts as a go-to source for all NFTs operating on the Ethereum blockchain. By “batching” your transactions, Genie makes it possible to purchase upwards of 20 NFTs in a single transaction. Thus, users experience cheaper gas fees while making bulk buys effortlessly.
Now, Genie offers more than just batched transactions. With the power of the “Genie list,” users can list their NFTs across multiple marketplaces to maximize exposure. As for now, the platform only supports Opensea and Rarible; however, more are to come in the future.
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This article is educational material.
As always, make your own research prior to making any kind of investment.