Ventures striving to duplicate major brands like Tesla, Jurassic Park, Meta, and Animoca Brands are seeking to entice people to purchase their crypto tokens.
To launch a new crypto initiative, one must first create a token, select a ticker, market it to the crypto industry via coin information websites, and then list it on decentralized exchanges or many new centralized crypto exchanges that will do almost everything for money.
Illicit organizations can easily come up with a creative brand name or pick a well-known brand and smear it with further phrases that could lead crypto newbies to believe it is related to its authentic version.
As a result, the crypto sector is filled with tokens that have nothing to do with the name or brand associated with them.
Here is a list of crypto ventures that are not associated with the well-known brands they depict:
The website for this project begins with a Tesla car hopping back and forth while displaying the Mini Tesla logo. The Mini Tesla brand asks visitors who are "tired of rug pulls and scam projects" to purchase their BSC-based token on PancakeSwap. Community folks, on either side, are dissatisfied with it and term it a fraud.
Many Twitter users, like JaferiMo and KabakciNiyazi, called the project a hoax.
Furthermore, while it seeks to resemble a legitimate electric vehicle manufacturer, there have been no formal statements from Tesla's official channels about being associated with this venture.
Several people have grown up adoring the Jurassic Park sequence and also the latest Jurassic World movies. Dinosaurs, on either side, are not as amazing when used by unrelated teams to appear to be associated with the franchise to make fast profits.
Jurassic Token seeks to attract users to buy its native digital asset with a site full of dinosaurs and the same style as that of the films.
Though, as with the other projects on this list, there is no hint that the project is tied to the classic Jurassic Park or Jurassic World movie franchises.
The recently released MetaNFT Marketplace project drew the attention of the crypto world because it was listed among CoinMarketCap's top 24-hour gainers. The project promotes itself as a cross-chain NFT marketplace, with an infinity-sign logo and a website that replicates tech conglomerate Meta's branding. Besides the absence of a statement from Meta's official platforms, it looks like few users are persuaded by the idea.
As per a Reddit thread, MetaNFT's platform is "all about security," but user Pronoobing disagrees.
Animoca Brands' metaverse token
When an ERC-20 token called Animoca Brands Metaverse was listed, purporting to be associated with the Hong Kong-based venture company, it became one of the most prominent recent examples of renowned brands being used to promote unaffiliated fake tokens.
On the other hand, the authentic Animoca Brands firm quickly reacted and stated that they are not involved with the Ethereum token that has their brand mark.