An unpleasant situation for both the investors and developers
FameLadySquad is a project that was considered one of the first all-female generative art projects in the NFT space. The project was launched about a month ago, and most of the roadmap items focused on charitable donations to fight against violence against women. However, the developers and investors of the project find themselves in an unpleasant situation. Numerous investors and even influencers who promoted FameLadySquad accuse the developers of "catfishing" their supporters.A Twitter user named @FedorLinnik claims in a tweetstorm that he has proof that the developers behind FameLadySquad are a group of 3 men. The user had created an NFT project himself in the past and claimed that he was invited to join a Telegram group along with the actual creators of FLS. According to him, the creators had several projects, all of which were started under fake names. Later in the thread, he also provides evidence that Ethereum earned from the launch of FLS went to an Ethereum wallet owned by a user named "Mefi" and showed detailed research on why this person is a male and Russian.
Several influencers replied to the situation
Because the NFT project was not suspected of being a scam in the first place, many influencers supported the project when it launched. The co-founder of Pudgy Penguins, ColeThereum tweeted to apologize for promoting the project and confirmed that the project is fraudulent. He claims they are the same developers as @UnicornGGClub @M_PlanetsNFT @queenship_ and explains that it feels disgusting to have been deceived and lied to by their team for months.He also tweeted that the money he received for promoting FameLadySquad, a total of 4.1 ETH, will be given away to support African-American artists and minorities struggling to find light in this space. Since the incident must have been harrowing for his fan base, he also explains that he will be documenting the entire journey and wants to keep things 100% transparent.
Art Chick, another NFT influencer who supported FameLadySquad during their launch, tweeted "It's ok for a dev team to be anon as long as their marketing campaign isn't around race or gender," and joked that she had just confirmed that the team behind Vogus NOT are real robots.
FameLadySquad their response to the accusations
The project's Twitter account has made several statements, all of which come down to the fact that according to them, people are spreading false information about FLS and that they are disappointed in the people who post these statements, even though they have supported them in the past. The project also announced that they would be doing a livestream 12 hours ago, but that never happened, and a more recent tweet stated that they would be making a big announcement about the situation.The NFT project has plummeted about 90% on Opensea's secondary market and is now trading at 0.02 ETH. If the accusations are true, then that would be a good lesson for investors to be more careful about which projects they invest in, especially if they listen to the advice of influencers promoting those projects. Many developers in the NFT space are anonymous, which makes it harder for people to verify if people are telling the truth.
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