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NBA Players Get Involved in a $1.4M NFT Rug Pull
NBA players get involved in a rug pull. The rug pull got to almost $1.4 million. It was based on Players Only, an NFT launchpad.

NBA Player & NFT

Credits: https://cointelegraph.com/

Gary Harris, Marcus Zegarowski, Jerami Grant, Marcus Zegarowski, Terrence Ross, Dennis Smith Jr., Lance McCullers, and Michael Carter-Williams all participated in a rug pull at one point or another.

After the account’s followers made the first discovery of the rug pull, the user “ZachXBT” on Twitter put out a series of tweets in which he addressed the issue. They were exchanging their NFT participation for a chance to participate in a rug pull that was being held at Players Only. A total of one and a half million dollars and forty hundred thousand dollars was up for grabs in the prize pool for the rug-pulling competition.

A little time after the first few days of December 2021, Players Only was made accessible to the general public via the Doge Pound launchpad. For example, a company was introduced with the tagline “NFTs for sports fans by the players,” and it had elements such as simultaneous in-game and real-world (IRL) activities, in-game and real-world (IRL) merchandise, signatures and gifts, and many more. In addition to this, there have been allegations made that the launchpad billed itself as “NFTs for sports fans by athletes.” [citation needed]

This was first created at a value of 10,000 NFTs; however, in the third tweet, after some time had elapsed, it was dropped to a value of 4,456 NFTs. In spite of the changes, the total revenue for this year came in at the same amount of $1.4 million as it did last year. In addition to this, as stated in the tweet that was posted, the team has even gone as far as to insinuate that all holders are in the running for anything.

As soon as these athletes learned about this possibility for the first time, they immediately flocked to Twitter in order to debate it in big numbers. The players, Doge Pound, and the other members of the Brooks/Drew team will all get the monetary prizes to which they were entitled after the minting procedure has been completed.

After that, only a few more people shared their thoughts, and one of them said, “It is fairly evident that athletes have not donated anything even anywhere near to $1.4 million for the project.” Even though they did not get the prizes they had won via raffles, some athletes were nevertheless able to earn five- to six-figure sums as a consequence of their participation. This was the case even though they did not receive the prizes they had won. It is very disheartening to see athletes in the NBA and MLB publicly disrespect their fans while receiving no reward for doing so.

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