AI Company Rabbit Accused of Orchestrating an NFT Scam Named Gama

According to Cointelegraph, YouTube investigator Stephen Findeisen, known as "Coffeezilla," has accused the artificial intelligence (AI) company Rabbit of orchestrating a scam and attempting to conceal its history.

Yesterday, Findeisen released a video on his Coffeezilla channel exposing Rabbit AI's involvement in the NFT sector. He pointed out that the company was previously known as Cyber Manufacture Co. and raised $6 million for an NFT project called Gama. However, years later, Rabbit AI's founder and CEO, Jesse Lyu, has distanced himself from cryptocurrency and the company's former image.

Findeisen highlighted a Discord statement from Lyu, in which he claimed the company would "never touch cryptocurrency." Lyu explained that Gama was just a "fun little project" he was involved in during the COVID-19 pandemic. Lyu stated that after the game they developed became open source, he left the project. Despite Lyu downplaying Gama as a minor project, Findeisen released recordings of Lyu outlining their grand vision for the NFT venture. In the recordings, Lyu stated they were investing millions into the project to ensure Gama became "a new level of experience." Due to Lyu's commitments, Findeisen questioned where the $6 million raised for the Gama project was spent. According to Coffeezilla, the company claimed these funds were solely for the NFT project. Nonetheless, Coffeezilla argued that this should still concern Rabbit, as it is built on the remnants of the Gama project. Findeisen also emphasized that the company's popular R1 product has been excessively hyped.

#NFT​ #Fraud