When celebrities and online personalities get involved in crypto and NFTs, there’s cause for concern. It would not be the first time a promoted project disappears. In the case of SmolBoyz Land, created by OnlyFans model Vanessa Sierra, the project went up in smoke altogether.
OnlyFans Model Rug Pulls NFT Investors
Given the sheer number of NFT collections, it is challenging to distinguish between legitimate projects and potential rug pulls. Some may even argue it is better to avoid all NFTs unless a significant company is involved. However, that would be problematic for all individual artists and smaller projects leveraging this technology. One golden rule is never to invest blindly, even if people’s favorite OnlyFans model pulls the project strings.
The NFT collection “SmolBoyz Land” has turned into a rug pull. That is unfortunate, as the collection saw significant investor interest and raised 127 ETH. Although the origin of that funds remains a bit unclear, there are undoubtedly several affected buyers and investors. OKHotShot outlined the project’s – potentially planned – demise on an engaging Twitter thread.
Finished on-chain analysis of how OnlyFans model Vanessa Sierra rugged her first #NFT project SmolBoyzLand
Please share to spread awareness
— OKHotshot (@NFTherder) December 8, 2022
Many people assume an OnlyFans model has a reputation to uphold and wouldn’t scam people. Unfortunately, that isn’t necessarily the case, and making a quick buck will always take precedence. Despite over 500k followers on Instagram, her project failed. Primarily due to her and the other co-founder running off with the money over time and claiming the “market makes it hard to succeed”.
Moreover, it appears Vanessa Sierra aims to push for a community takeover. She profusely apologized on Discord for failing buyers and investors. There is also a mention of a disagreement between board members regarding the project’s future direction. Whether that is all talk to spin a believable story remains uncertain, but the outcome is the same. SmolBoyz Land is dead, and the project – or the OnlyFans model – will not return.
Sluicing Funds and Redirecting To Google
The evidence provided by OKHotShot confirms the initially raised funds were slowly sent to wallets belonging to the founders. It took a few months to cash everything out without raising suspicion. However, the team continued to claim all funds were “where they should be”. Instead, there were more remarks about how bad the market conditions were, and everyone had to wait for a recovery. More lies by the OnlyFans Model, it seems.
2b) And by May 7th the founders had taken ~120.68 of the 127 eth raised. Yet on July 22th @vanessasierra00 told her buyers that: “absolutely none of the funding has been taken by founders” … pic.twitter.com/I3nvfZmx9G
— OKHotshot (@NFTherder) December 8, 2022
To make the rug pull complete, the SmolBoyz Land NFT site now redirects to Google.com. There is no reason for doing so other than to confirm the rug pull and rub salt in the wounds of whoever bought an NFT from this collection. Never believe influencers, models, or other personalities when they try to offer something financial. Do your research and avoid anything that is getting too much hype.
The post OnlyFans Model Rug Pulls NFT Buyers Who Invested Over 127 ETH appeared first on CryptoMode.
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