Stephen Findeisen, popularly known as “Coffeezilla” on YouTube, has accused artificial intelligence company Rabbit AI of orchestrating a nonfungible token (NFT) scam and attempting to cover it up.
Findeisen, a prominent investigator on the video-sharing platform, recently released a video on the Coffeezilla channel, shedding light on Rabbit AI’s alleged involvement in the NFT space.
According to Findeisen’s findings, Rabbit AI was previously known as Cyber Manufacture Co. and managed to raise $6 million for an NFT project named Gama.
However, the company’s founder and CEO, Jesse Lyu, later distanced Rabbit AI from the world of cryptocurrencies, stating that they would “never touch crypto” in Discord statements.
Fun Little Project
Lyu claimed that Gama was merely a “fun little project” he participated in during the COVID-19 pandemic and that he left the project once the associated game was open-sourced.
Contradicting Lyu’s claims, Findeisen presented recordings in which Lyu discussed ambitious plans for the Gama project.
In those recordings, Lyu expressed intentions of investing millions into Gama to create a groundbreaking NFT experience.
He also mentioned future plans for a concept called Gamaverse and the potential for a clean energy initiative in relation to Gama Coin.
Findeisen raised concerns about the $6 million funding raised for the Gama project, questioning where the money had been allocated.
Rabbit went viral at the beginning of this year, raising $30m in venture capital and selling $20m in consumer products.
But most people don't know that the company Rabbit Inc used to be called Cyber Manufacture Co, and raised $6 million for an NFT project. This project was WILD pic.twitter.com/1aQXTSVysu
— Coffeezilla (@coffeebreak_YT) May 21, 2024
Despite Rabbit AI’s assertion that the funds were solely used for the NFT project, Coffeezilla argued that Rabbit AI’s foundation was built on the remnants of the Gama project, making it a matter of concern.
Additionally, Findeisen criticized the overhyped nature of Rabbit AI’s viral R1 product, drawing parallels between the exaggerated promises made by both Gama and R1.
Coffeezilla’s allegations are not isolated, as others have also expressed skepticism about Rabbit AI’s offerings.
Josh Olin, the founder and CEO of WeGPT, previously labeled Rabbit’s project as a “scam,” characterizing it as a quick cash grab designed to lure in investors.
Logan Paul-Coffeezilla Cryptozoo Controversy
Online detective Coffeezilla has made himself a reputation by uncovering crypto scams.
Specifically, he made headlines last year for going after popular YouTuber and influencer Logan Paul to expose his “scam” project CryptoZoo.
CryptoZoo was launched in September 2021 with much fanfare, with Paul himself being one of the founders of the project.
The game utilized its own cryptocurrency called ZooCoin, with buyers able to purchase “eggs” that would hatch into randomized animals with different rarities.
These animals could then be bred to create cross-bred creatures that would act as NFTs. The NFTs could be held or burned to earn more ZooCoin, purportedly providing buyers with significant returns on their investments.
However, in a three-part series of videos uploaded at the end of 2021, Coffeezilla alleged that CryptoZoo had been largely abandoned shortly after its launch.
He claimed that Paul distanced himself from the project, despite the extensive pre-release attention he had given it.
In response to Coffeezilla’s allegations, Paul released a video blaming the co-founders and advisors of CryptoZoo for any wrongdoing and sensationalizing the story. He even threatened to sue Coffeezilla.
The post YouTube Investigator ‘Coffeezilla’ Accuses Rabbit AI of Involvement in an NFT Scam appeared first on Cryptonews.
