▷ UK NFT Art: FUD attacks on an unprecedented scale threaten the future of NFTs

04.02.2022 – 06:12


London (ots/PRNewswire)

NFT entrepreneur Doctor Troller is calling for an end to the current toxic climate of FUD attacks in the NFT market.

The 35-year-old London-based NFT artist has warned that the proliferation of FUD (Fear, Uncertainty and Doubt) posts on social media has reached such epidemic proportions that it is now jeopardizing the entire future of NFTs.

Doctor Troller, whose real name is Andrew Brown, said: “Over the past year there has been a growing number of influencers who have consistently provided negative feedback on various NFT launches.

In such a volatile and unpredictable market, speculation about the validity of new NFTs is inevitable.

But lately, FUD rumors are killing promising NFTs before they’ve even started.”

With his own launch of Crocs League NFT collectibles, he fell victim to FUD attacks.

He said: “In multiple cases, there is evidence that influencers are being paid by competing companies to spread malicious rumors about new NFTs in order to destabilize their businesses while they prepare to launch. Several very good NFTs have been shot down this way in recent months and will likely never recover.

They start with rumors on social media platforms that are not based on any study and have no evidence. As these rumors spread and are repeated on social media, they gain traction simply because they are widely disseminated and shared. Once they reach critical mass, they often result in a massive sell-off of a particular NFT, which then plummets in price.

This then falsely confirms the rumor mill’s belief that they predicted a ‘rug pull’ or a ‘pump and dump’.”

Doctor Troller acknowledges the need for influencers to denounce bad practices in the NFT market, but cautions that it must be based on evidence and thorough investigation, not just unsubstantiated rumours.

He added: “It’s important for this market to regulate itself, that’s the point of decentralized markets, but for that to happen we must not get lost in this sea of ​​false FUD reporting.

The best we can do to counteract the fake FUDs is to report and block influencers who abuse their position and boycott the companies paying for fake posts. We need to build stronger networks and communities of trust if the NFT market is to thrive.”

Photo: https://mma.prnewswire.com/media/1739955/Doctor_Troller.jpg

Press contact:

Thomas Goodhall,
[email protected],
07949 774557

Original content from: UK NFT Art, transmitted by news aktuell


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