Takeoff: The $10M Scam

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Ralph Chua is a publisher. He is passionate about NFTs and blockchain technology. This website is curated with content from his favorite source of information. He created this website with the intention to stay up to date with the ever-evolving and groundbreaking NFT industry.

In December of 2021 takeoff oneir of Migos broke off from his band mates to Take money from the pockets of his fans This video is a breakdown of the $10 Million scam that takeoff committed on His fans Apes in space we're going to The moon so don't miss it just spent 100K sweeping the floor of the Apes in Space nft Project they're going to the Moon this is my baby you know what I'm Saying this is my community I'm here to The to the to the end we going to ride It out Now first up I want to say that I am a Huge fan of the Migos and takeoff from The very beginning I've Loved Migos I Love takeoff takeoff on Fight Night Absolutely kills it and the way he Screams Easter pink in rip absolutely Love it as well as their newer stuff This isn't to put down his music or his Character this is about the scam that Involved prior to his passing so please Keep that in Mind now I found found the exact moment That caused takeoff to sell an nft it Was this now this nft is from Rich the Kid rich kids this is the nft project That launched a couple of months before Takeoffs Apes in space now the reason That this is very prominent is Rich G Takeoff did a song together and what I Think has happened is in the studio when They've been making the music when

They've been vibing Rich the kid has Said to take off hey here's a way that You can make a bunch of money selling Nfts so what I think has happened is This has been the Crux this has been the Point of which takeoff has gone yes Let's do it what I think and this is all Pure speculation is a similar team that Helped Rich the kid would have also Helped takeoff because takeoff would Have been like yeah let's do it then he Would have been like put put me in touch With your guys and then it would have Rolled on and gone from there and that's The moment that I think take off Actually conceived the idea of apes and Space to then sell to his Fans Now before we get into the website which Is crazy in itself what I want to break Down is the cost of it what they were Doing is they were selling 10,000 of These nfts 2,000 of them were being sold At .12 ethereum H and these were at Around $530 a piece then there was going To be 8,000 sold at 1,320 which is absolutely crazy this Ended up netting them over $10 million Overall for these it did take a few days For it to sell out and full disclosure Um I did actually Mint one myself when I Got close to sell it I knew that it was Going to run up and I ended up making Around $500 on the flip and that rise so

Full disclosure I did enter and exit This trade so um please keep that in Mind now I think the crucial thing here Is with that $10 million what were they Going to give to the holders and this is Where the utility on the website comes Into play now looking at the road map Staking at space holders will be able to St take their nfts in exchange for a Native token take off unique to the Project which will be used for a number Of features these utilities will be Accessible through the use of the Native Token then there is land ownership in The metaverse and the idea is that you Will be part owner in parts of land Which was a gimmick at the time and a Way for people to feel like they're Getting value and holding in something That could appreciate later on which is A very sketchy slippery slope when it Comes to uh uh securities we've then got Metaverse assets apes and Space Project Will create avatars and items to be Integrated into the metaverse it goes on To say we aim to become the top IP in The metaverse and plan to have multiple Integrations of this space over the next Course of a few months this is basically This is nothing this is empty promises This is saying that they will give you IP it will give you stuff which is what The pfp is it it doesn't actually lead To anything and then it goes on to say

One lucky Apes in space Holder will join Takeoff in real life space journey so Basically the project they're going to Send someone to space um these are just Very gimmicky and then VIP events and Then giveaways and things like that so As you can see 10 million for something That doesn't cost too much to deliver Seems like a bit of a way to just raise Money for those running the project I.E Takeoff and his team and not actually Going back into the holders and Providing value now yes I understand That people that create nft projects are There to make money but it's a very it Just doesn't seem like a good risk Return ratio on the people that were Buying into the project now with the Apes that were sold for that $500 to $1,300 Mark what are they selling for Now they're selling for around $15 now these aren't completely dead People are buying these they are the Sales are very very very kind of mixed Together there was one a day ago 5 days Ago 18 days ago months ago but yes People have been buying and selling them Between $ 10 and $15 but it's just a fun Little fact that these have dropped to Virtually Zero from their or original Sale price even the discounted price at $500 they're trading for $15 um and from The $1,300 trading for around $ 15 that Is just it's like a 99% drop it is

Absolutely crazy it is absolutely Chaotic anyone that has bought in and That has held is essentially sitting on A great loss now one thing that I think Is notable and I'll kind of I'll give Them credit for it is their Communication on our social media Platforms uh that being X will used to Be Twitter and Instagram well after the Mint there was Communications unlike Other projects that we've seen from Rappers and celebrities the fact is they Were still updating people in what they Were doing but they weren't really it it Felt like it was a behind the scenes Effort because it didn't feel like there Was much effort put in on the uh behalf Of takeoff it feels like he got his cut He got his um sort of paycheck and then He just bounced from there because there Isn't much more communication from him What I will say though is takeoff did End up posting a series of things Afterwards on his social media accounts To um talk about the nft space as a Whole but not necessarily pumping um the Project himself but he was involved it Didn't feel very organic it felt very Like he was being prompted to like he Was um being obligated to do something To pump something to do do something it Didn't seem like it come from a Founder Which if you come back to the website it Says that he is the founder and the face

Of the project so it doesn't feel very Aligned on those fronts now I think this Is the perfect time to actually go in it And show you what his wallet looked like What he actually did with the money with The money that takeoff had and what came Through he ended up buying a series of Very expensive nfts for him to hold Himself now I do believe that this is His wallet because when you have a look At these tweets and the uh apes and the Uh sort of punks that he's bought and The actual corresponding wallet the Dates and the time times actually do Match up so these are actually his Assets Now I always find this a little bit Off-putting when someone takes mint Funds to then buy into other projects it Shows that they don't value their Project or their nft as high as others Because they're essentially taking Liquid from their project and Redeploying it into another project into Something else that they perceive to Have higher value that be that crypto Punks Apes things like that so that is Something I want to point out but what I Do like and what I will give credit to Takeoff for is the fact that he has that He did stay involved within the nft Space he was buying and it looked like He was semi- trading in the space after All of this went down because the wallet

Activity does stay active for months After the drop it wasn't just a quick Rip a and a quick run out now the reason That I say that the nft project is a Scam is because I can no longer find the Discord and I can no longer see on these Social media accounts the winners and Those people that were promised uh the Utility in the on the website on the Website there are all of these different Utilities but there's no way to verify If those had actually gone about now Back in 20201 early 2022 there was a way For people to uh make some promises and Then slowly say that they were going to Deliver the promises and never deliver The promises and let it uh sort of fade Away and I think this is case I think That once the money came through there Was the intention to do it but then they Realized why would we need to send Someone into space why would we need to Host these events we've already got the Money nothing can go wrong so we're not Going to do it so the reason I am Calling this a scam is because there is No way to verify and on the social Accounts it hasn't kept up to date the Discord isn't up to date it seems like It has been a slow rug and they've Slowly pulled back on that front so why Did I decide to make this video why did I want to call out takeoff and his team For what they've done and the amount of

Money that they ended up raising and Taking from their fans the idea here is I want to hold celebrities and those Influencers accountable for raising Money and not actually delivering on any Particular promise in the sad case of Takeoff we lost him in 2022 so it's hard To say if any of these promises could Have actually been fulfilled if he was Still around I don't think takeoff me Personally I don't think takeoff was the Spearheading this I don't think he was The B all and end all when it came to This project I think there was a Sophisticated Network a sophisticated Team behind him that just put his face Out there forward to actually sell out And take all the money but I think you Had the people that created the artwork The smart contracts the mods all of the Team behind it I think they were the Ones that actually pushed this forward And just said to him hey if you want to Launch an nft we can give you a cool Couple million bucks and then they knew That they would make something off the Back he treated as an influencer deal so I don't believe that this was completely Take off's fault but because his face is Attached to it his name and reputation Will always be tarnished when it comes To nfts and web through within that Space and like I said I have the highest Respect for takeoff when it comes to his

Music and what he has produced I want to Create these videos so people um when Things come back around if nfts ever Come back with crypto no matter what it Is celebrities and influenc are going to Be held accountable because I hope that One day if funds can be tracked they can Be reversed back through to the accounts That do hold these nfts um it it is Wishful thinking I don't think it will Ever come to a fruition but we have seen More and more uh like the case against Ashena and milis with their nft project They have been fines that have been put In place I don't think these will go Back through the original holders but I Do there do need to be some Accountability that does need people Calling out those Bad actors in the Space and those doing bad things to Actually hold them accountable so that The general public and people can rally Behind to actually protect themselves Hopefully you found value in this video If you go down there hit that subscribe Button if you liked it hit the like Button as always it's been a pleasure Having you with me I look forward to Seeing you in the next one

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