SNEAK PEEK
- Porsche alerts its clients about the fake NFTs selling on their name.
- Fake NFTs being advertised online in their name.
- “Rug-Pull” fraud is the most typical NFT scam.
Porsche alerted its clients and followers via a tweet about fake NFTs being advertised online in their name.
We’re concerned that NFTs are being offered in our name that are inauthentic. Please stay safe online and be mindful to purchase digital Porsche products only through the official Porsche channels or its subsidiaries.
— Porsche (@Porsche) November 7, 2022
In a recent tweet they said that they are concerned that fake NFTs were being offered under their brand. He further said, please use caution while shopping online and only buy digital Porsche products from Porsche’s parent company or authorized resellers, the tweet advised.
NFTs are unique cryptographic tokens on a blockchain tied to an asset (physical or digital) such as art, drawings, or music. In 2021, NFT trades shot 21,000%, a total of $17 billion in sales compared to 2020.
Porsche recently launched the new 911 GT3 RS ‘Tribute to Carrera RS Package’ in the United States to celebrate the 50th anniversary of its classic RS 2.7. The tribute package featured special graphics, a new track-honed coupe, a theme car cover and watch, and NFTs.
This isn’t the first time, Porsche explored the NFT industry. In early 2022, Porsche Deutschland and Porsche Australia released two NFTs for charity including a freehand sketch of the Porsche Taycan Cross Turismo and 911 by exterior chief designer Peter Varga, as well as, a techno-coloured Taycan artwork by Australian artist Nigel Sense.
The “Rug-Pull” fraud is the most typical NFT scam. As the name implies, dishonest developers will overhype an NFT to pique investors’ interest. After collecting a substantial sum of money from their targets, they will shut down the entire project
