NFTs
Coffeezilla calls out AI firm Rabbit over alleged NFT scam – TradingView News
YouTube investigator Stephen Findeisen, better known as “Coffeezilla,” has accused artificial intelligence (AI) company Rabbit of orchestrating a non-fungible token (NFT) scam and trying to hide it.
On May 21, Findeisen published a video on the Coffeezilla channel revealing Rabbit AI’s involvement in NFTs. The YouTube detective pointed out that the company was previously called Cyber Manufacture Co. and raised $6 million for an NFT project called Gamma. Cointelegraph
However, a few years later, Rabbit AI founder and CEO Jesse Lyu drew a line between cryptography and the company’s new image. Findeisen highlighted Lyu’s statements on Discord saying the company will “never touch crypto.”
Cointelegraph approached Rabbit for comment.
Lyu also explained that Gama was just a “fun little project” that he was involved in during the COVID-19 pandemic. Rabbit’s founder wrote that he left the project when the game they made was open source.
While Lyu downplayed Gama as a small project, Findeisen revealed recordings of Lyu explaining his grand vision for the NFT venture. On set, Lyu said they were investing millions into the project to ensure Gama became “a next-level experience.” Lyu said:
“NFTs are just the beginning […] After NFTs, we have these huge, innovative ideas about Gamaverse, and after that, we again have these huge, innovative ideas about clean energy versus Gama Coin.”
Because of Lyu’s promises, Findeisen questioned where the $6 million in funding raised for the Gama project went. According to Coffeezilla, the company claimed that the funds were only used for the NFT project.
Despite this, Coffeezilla said it should still be of concern to Rabbit as it was built on the ruins of the Gama project. Findeisen also highlighted that the company’s viral R1 product was also overhyped. He said:
“Many of Gama’s promises did not happen. This is relevant to R1 not only because this project is built on the skeleton of that fraudulent project, but also because R1 is similarly exaggerated.”
In addition to Findeisen, others believe that Rabbit’s R1 product is an “AI fraud.” On January 14, WeGPT founder and CEO Josh Olin claimed on X that the Rabbit project was a “scam.” Olin described the company’s product as a quick way to make money with the aim of attracting investors.