Cash Grab

There are tens of thousands of cryptocurrency and NFT projects, and it can be challenging to find solid projects with talented teams. Some cryptocurrency / NFT teams are in it for the long haul, and unfortunately, some are simply in it to make as much money as possible as quickly as possible. A “Cash Grab” refers to a project that is spun up quickly with little engineering effort to defraud investors. These operations are known for selling low-quality assets and then turning off their website, discord channel, and social media channels and disappearing. It’s important always to do your due diligence to reduce the chances of getting scammed and ripped off.